The Financial Services Commission (FSC) is the apex body responsible for licensing, regulating, monitoring and supervising all non-banking financial activities. The FSC was set up by Act of Parliament under the Financial Services Development Act 2001. The FSC has strong and effective powers of inspection under Part IV of the FSD Act 2001, and it may give directions, issue roles, guidelines or code for the proper conduct of business for non-bank financial activities, such as asset management, pensions schemes and pension management.
In carrying out its functions, the Commission is guided by its four main statutory objectives:
For further information, please contact:
Financial Services Commission
FSC House, 54 Cybercity, Ebene, Republic of Mauritius
Tel: (230) 403 7000
Fax: (230) 467 7172
Mauritius Anti-Money Laundering guidance notes and many other useful documents are available on the website of the Mauritius Financial Services Commission: www.fscmauritius.org
The Bank of Mauritius regulates and supervises banking institutions and non-bank deposit taking financial institutions under the provisions of the Banking Act 2004 and the Bank of Mauritius Act 2004. Money changers and foreign exchange dealers also fall under the purview of the Bank of Mauritius.
The regulatory and supervisory functions exercised by the Bank include:
In line with best international practice, the Bank is committed to the implementation of the 25 Core Principles for Effective Banking Supervision set by the Basel Committee on Banking Supervision (BCBS). The Core Principles provide an internationally agreed framework for effective banking supervision. Furthermore, the Bank of Mauritius forms part of the Offshore Group of Banking Supervisors and the Eastern and Southern Africa Banking Supervisors Group.