Regulatory Alerts2021-12-06
Guideline on Private Banking
Issued by the Bank of Mauritius, this guideline establishes the regulatory framework for licensed banks conducting private banking business in the jurisdiction. It mandates specific exemptions regarding minimum capital, ownership thresholds, and board structures for exclusively licensed private banks while enforcing strict compliance controls, risk mitigation measures, and customer eligibility criteria based on investable assets or income. The document further delineates permissible ancillary services, digital delivery options, and detailed operational standards for staff conduct, portfolio management, and ongoing supervisory reporting.
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