Regulatory Alerts2020-10-02
Guidelines on Fitness and Propriety
The Financial Services Commission of Mauritius issued these Guidelines to establish comprehensive criteria and ongoing assessment procedures for determining whether licensees, applicants, directors, officers, and shareholders meet the "fit and proper" standard. The document mandates that regulated entities implement internal controls, submit a Fit and Proper Person Questionnaire, and promptly disclose material changes or breaches to maintain their licenses. By applying a cumulative assessment of honesty, competence, and financial soundness, the FSC ensures high market conduct standards while protecting consumer interests and deterring regulatory abuse.
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