Regulatory Alerts2021-01-01
Financial Services (Peer to Peer Lending) (Amendment) Rules 2021
The Financial Services Commission of Mauritius issued the Financial Services (Peer to Peer Lending) (Amendment) Rules 2021 to update the regulatory framework for peer-to-peer lending operators. The amendment replaces the definitions of "escrow account" and "sophisticated investors" with "expert investor", increases the applicable lending limit threshold from three to five, and exempts expert investors from these limits when lending through P2P operators. It further mandates P2P operators to segregate lenders' and borrowers' funds in designated Mauritian bank accounts, with the rules taking effect on 6 March 2021.
Share