Regulatory Alerts2016-01-01
Financial Services (Investment Banking) Rules 2016
The Financial Services Commission of Mauritius issued these Rules to regulate holders of an Investment Banking Licence by mandating specific corporate governance, capital, and operational standards. Licensees must maintain a minimum stated unimpaired capital of 50 million rupees, ensure their boards comprise at least five directors with forty percent independence, and appoint a Chief Executive Officer with fifteen years of relevant experience. The Rules further require documented internal controls, targeted insurance policies, and the submission of audited annual reports prepared under IFRS within ninety days of the balance sheet date.
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