Regulatory Alerts2014-03-13
Bank of Mauritius Guideline on Control of Advertisement
The Bank of Mauritius requires all licensed banks and non-bank deposit-taking institutions to submit advertisements related to deposits for pre-approval at least seven days prior to publication. This guideline shifts the regulatory focus from mandatory approval of all product advertisements to a submission-based system, mandating that institutions ensure ads are fair, objective, and clearly disclose interest rates, terms, and the regulatory status of agent-marketed products. Financial institutions must prominently display disclaimers, restrict foreign currency billboard advertisements, verify merchant discount fulfillment, and specify target markets for structured products to prevent misleading claims.
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