The Financial Services Commission, Mauritius (the ‘FSC’) is the integrated regulator for the non-bank financial services sector and global business.
FSC Mauritius Certification Requirements
The FSC operates under the aegis of the Ministry of Finance and Economic Development within an internationally recognised legal framework which includes the FSC Act, the Securities Act and the Insurance Act, it licenses, regulates, monitors and supervises the conduct of business activities in the non-banking financial services sector.
BELOW ARE FSC MAURITIUS CERTIFICATION REQUIREMENTS:
Draft Offer document Outline Memorandum Private Placement Memorandum (“PPM”) or Prospectus of the CEF providing details including but not limited to the following:
Read Also: Mauritius Work Permit Requirements
A. General information regarding the CEF namely its objectives, size of the fund and minimum
B. Investment objective/investment policy/investment restrictions;
C. Investment Process (if known at this stage);
D. Target sector(s) of investment and investment instrument;
E. Country/Region of investment;
F. Exit Strategies for Investors;
G. Details of risks involved in the scheme (if known at this stage);
H. An indication of the profile and location of Investors;
I. Capital structure, classes of shares, rights and obligations attached to each class of shares and
indication of the holder(s) of each class of shares;
J. Compliance requirements of other regulatory bodies (if any);
K. Details and track record on the Functionaries (e.g. Investment Manager, Investment Advisor,
Custodian, Administrator, Prime Broker, Registrar/Secretary);
L. Duties and obligations of each functionary;
M. Details on the core investment management team;
N. Responsibility for Net Asset Value calculation/reporting and basis of calculation;
O. Any Corporate Governance Issues related to independence between the Board of the CEF and
the Board/Investment team of the Investment Manager/Investment Advisor;
P. An indication as to who will be responsible to carry out the CDD and Anti-Money Laundering
(‘AML’) check on investors in the CEF; and
Q. Confirmation as to where the CDD and AML check documents will be kept.
What is the importance of FSC Mauritius?
FSC regulates all non-banking activities in Mauritius, precisely in the following sectors: Insurance; • Capital Markets; • Funds; • Global Business; • Pensions.
What is the Financial Services Commission FSC regulation in Mauritius?
The Financial Services Commission (FSC) (French: Commission des Services Financiers de Maurice) is a regulatory authority responsible for the regulation, supervision and inspection of all financial services other than banking institutions and global business in Mauritius.
Why do I need an FSC certificate?
FSC forest management certification confirms that the forest is being managed in a way that preserves biological diversity and benefits the lives of local people and workers while ensuring it sustains economic viability. FSC-certified forests are managed to strict environmental, social and economic standards.