Regulatory Alerts2020-01-01
Financial Services (Peer to Peer Lending) Rules 2020
The Financial Services Commission of Mauritius issued the Peer to Peer Lending Rules 2020 to regulate operators facilitating online lending platforms. The rules mandate licence requirements, capital thresholds, and strict borrowing and lending limits for both natural and legal persons. They further enforce comprehensive disclosure standards, due diligence procedures, segregated client funds, quarterly reporting, and a two-day cooling-off period while clarifying that platform-transacted funds do not qualify as statutory bank deposits.
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