Regulatory Alerts2013-01-01
Securities (Recognition of Remote Custodians) Rules 2013
The Financial Services Commission of Mauritius issued these rules to establish a regulatory framework for recognizing foreign entities as remote custodians on licensed clearing and settlement facilities. Recognized entities must maintain a local Mauritian agent, satisfy anti-money laundering due diligence checks, and submit specified incorporation and regulatory evidence to obtain or maintain their status. The rules also prescribe applicable processing and annual fees, outline conditions for varying or withdrawing recognition, and amend existing licensing schedules to integrate remote custodians into the domestic securities market.
Share