Regulatory Alerts2022-01-01
Financial Services (Administrative Penalties) (Amendment) Rules 2022
The Financial Services Commission of Mauritius amended the penalty schedule to establish a fixed US$ 10 per business day administrative penalty for non-compliance with the annual financial summary filing obligation. The rules delete a redundant reference to financial summaries in the existing schedule and explicitly codify this new penalty amount under section 71A(10) of the Financial Services Act 2007. These amendments commenced on 11 June 2022 and apply to all regulated entities required to submit their financial summaries annually.
Share