Regulatory Alerts2015-01-01
Private Pension Schemes (Auditor and Actuary) Rules 2015
The Financial Services Commission of Mauritius issued the Private Pension Schemes (Auditor and Actuary) Rules 2015 to standardize the appointment, qualifications, and regulatory oversight of auditors and actuaries for licensed private pension schemes. The Rules require schemes to secure Commission approval for independent professionals within 90 days of licensing or upon a predecessor's departure, while enforcing strict timelines for resignation notifications, audited financial statement submissions, and extended scope examinations. Additionally, the regulations impose comprehensive whistleblowing duties on these professionals to report financial impairments or regulatory breaches directly to the Commission, while granting them statutory protection against civil, criminal, and disciplinary proceedings for good-faith disclosures.