Regulatory Alerts2013-01-01
Securities (Disclosure Obligations of Reporting Issuers) (Amendment No. 2) Rules 2013
The Financial Services Commission of Mauritius issued these rules to amend the principal disclosure regulations by defining foreign investors and mandating monthly reporting obligations for listed companies. These entities must now file detailed transaction returns with the Commission and their respective securities exchange, specifying investor names, dealers, trade dates, quantities, prices, and the aggregate voting share percentage held by foreign investors. The amendments commenced on 1 April 2013, thereby standardizing transparency and regulatory oversight of cross-border equity investments in Mauritian markets.
The text below is an internet version of the Rules made by the Financial Services Commission under section 93 of the Financial Services Act 2007 and section 155 of the Securities Act 2005 and is for information purpose only. Whilst reasonable care has been taken to ensure its accuracy, the authoritative version is the one published in the Government Gazette of Mauritius. SECURITIES (DISCLOSURE OBLIGATIONS OF REPORTING ISSUERS) (AMENDMENT NO. 2 ) RULES 2013 FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act 2007 and section 155 of the Securities Act 2005
- Citation These Rules may be cited as the Securities (Disclosure Obligations of Reporting Issuers) (Amendment No. 2) Rules 2013.
- Interpretation In these Rules- “principal Rules” means the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007.
- Rule 2 of the principal Rules amended Rule 2 of the principal Rules is amended by inserting in the appropriate alphabetical order the following new definition – “foreign investor” means a non-citizen or an entity which is not resident in Mauritius.
- Principal Rules amended The principal Rules are amended by adding immediately after Rule 16, the following new Rule –
16A. Filing with the Commission and securities exchange Companies listed on a securities exchange in Mauritius shall, on a monthly basis, file with the Commission and the securities exchange on which they are listed a list of foreign investment transactions returns, including- (a) the name of the foreign investor; (b) the name of the investment dealer; (c) the date of the transaction; (d) the quantity of securities traded; (e) the price at which each security was traded; and (f) the percentage of shares carrying voting rights held by all foreign investors in the company. 5. Commencement These Rules shall come into operation on 01 April 2013. Made by the Financial Services Commission on 25 March 2013.