Regulatory Alerts2020-01-01
Financial Services (Consolidated Licensing and Fees) (Amendment No 4) Rules 2020
The Financial Services Commission of Mauritius issued the 2020 Amendment No. 4 Rules to update licensing requirements by replacing the Third Schedule of the principal 2008 regulations. The amended schedule introduces a comprehensive Personal Questionnaire mandating applicants and respondents to disclose detailed personal, academic, professional, and career history data alongside fitness declarations regarding convictions, bankruptcies, litigation, and politically exposed person status. Effective 1 November 2020, the rules empower the Commission to conduct background checks using the submitted questionnaire and impose criminal penalties for misleading information, thereby standardizing licensing applications.
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