RegAlert

Rule · FSC · 3 Sep 2020

Financial Services (Administrative Penalties) (Amendment) Rules 2020

enforcement
disclosure

The Financial Services Commission issued these amendment rules to modify the administrative penalty schedule for investment banking compliance. The changes insert a new schedule item establishing a fixed penalty of Rs 300 (US$10) per business day for failing to file annual reports as mandated by the 2016 Investment Banking Rules. The amended provisions commenced operation on 3 September 2020.

MauritiusFinancial Services Commission Mauritius

Government Notices 2020 647
Government Notice No. 210 of 2020 THE FINANCIAL SERVICES ACT 2007 FSC Rules made by the Financial Services Commission under
Section 93 of the Financial Services Act 2007

  1. These rules may be cited as the Financial Services
    (Administrative Penalties) (Amendment) Rules 2020.
  2. In these rules –
    “principal rules” means the Financial Services (Administrative Penalties) Rules 2013.
  3. The Schedule (Rule 3) to the principal rules is amended by
    inserting the following new item – Legal Obligation Amount of administrative penalty for each business day of non-compliance (Rupees /US$*) An obligation, pursuant to Rule 11 of the Financial Services (Investment Banking) Rules 2016, to file an annual report with the Commission within such time as may be required. Rs 300 (US$ 10)
  4. Commencement
    These rules shall come into operation on 3 September 2020. Made by the Financial Services Commission on 3 September 2020.

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RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.

Regulation of 2013Not in RegAlertRegulation of 2013 — Not in RegAlertMentions (1)a document this one mentionsopen the list below the graph ▾Mentions (1): a document this one mentions without changing it — open the list below the graphFinancial Services(Administrative Penalties) (A…2020-09-03 · this documentFinancial Services (Administrative Penalties) (Amendment) Rules 2020 (2020-09-03)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (1)
Amends
  • Regulation of 2013Not in RegAlert

    “The Schedule (Rule 3) to the principal rules is amended by inserting the following new item”

Mentions (1): 1 document this one mentions without changing it
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Source: Financial Services Commission Mauritius — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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