Regulatory Alerts2025-01-01
Financial Services (Framework for the Imposition of Administrative Penalties) (Amendment) Rules 2025
The Financial Services Commission of Mauritius has amended its administrative penalties framework to implement a four-stage settlement discount schedule ranging from fifty percent for early resolutions to zero percent for post-remission cases. The updated rules stipulate that discounts apply exclusively to Commission-approved settlements, explicitly excluding proceedings where a decision notice has been issued, a review application is active, or the matter has been remitted for reconsideration. Furthermore, the amendment formally classifies financial crimes as serious breaches and takes effect on 24 February 2025.
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