Regulatory Alerts2018-01-01
Financial Services (Administrative Penalties) (Amendment) Rules 2018
The Financial Services Commission of Mauritius issued these amendment rules to modify the administrative penalty framework for licensed entities. The regulations amend Rule 3 of the principal 2013 rules by adding a new paragraph that caps penalties for specified violations committed after 31 December 2017 at 150,000 rupees (USD 5,000). Deemed effective from 1 January 2018, the amendments establish a clear monetary ceiling for regulatory enforcement actions against licensees.
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