FSC

15.11.2018

The FSC regulator (stands for the Financial Services Commission of Mauritius) exercises functions of monitoring, supervising and issuance of licensing documents to the companies of a non-banking financial services and global business segments. For example, Insurance and Pension Plans, leasing and banking institutions, along with brokerage companies.

The Basic Premise

The FSC regulator is entrusted with these objectives and targets:

  1. Keeping track of and conducting control action over broker organizations that have received relevant licensing documents.
  2. Issuance of permits after the fulfillment of numerous criteria set by the regulator.
  3. The company accepts current requirements and agrees to their full execution by purchasing a license.
  4. Policy design.
  5. Bringing in fast-track measures aimed at detection of the fraudent activities and illegal money laundering.
  6. FSC contributes to the favorable development of the monetary sector in order to normalize the economy in the country.
  7. Befit and risk communication, as well as consumer advocacy and investment security.

 

To accomplish these targets the FSC is obliged to meet certain requirements:

The central problem set by FSC is achievement of a perfect compliance with international quality standards (bringing policies and laws to a proper condition, which will be congruent with international standardization conditions regarding regulation and supervision in the non-banking segment).

The regulator’s internal structure is organized in such a way as to increase the efficiency of its functional responsibilities. Its main task is to optimize the correlation between commercial activity and regulation.

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