Regulatory Alerts2021-01-01
Financial Services (Funeral Scheme Management) (Amendment) Rules 2021
The Financial Services Commission of Mauritius issued the 2021 Amendment Rules to strengthen solvency and asset management requirements for licensed funeral scheme managers. The amendments mandate that admitted assets remain invested locally and consistently cover admitted liabilities, while requiring liquid asset holdings to equal at least three months of certified expenses. Managers must promptly address asset-liability shortfalls by submitting actuary-certified solvency reports and remedial plans, alongside updated schedules detailing excluded assets and long-term cash flow projections.
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