RegAlert

Rule · FSC · 11 Jun 2022

Financial Services (Administrative Penalties) (Amendment) Rules 2022

enforcement
disclosure

The Financial Services Commission of Mauritius amended the penalty schedule to establish a fixed US$ 10 per business day administrative penalty for non-compliance with the annual financial summary filing obligation. The rules delete a redundant reference to financial summaries in the existing schedule and explicitly codify this new penalty amount under section 71A(10) of the Financial Services Act 2007. These amendments commenced on 11 June 2022 and apply to all regulated entities required to submit their financial summaries annually.

MauritiusFinancial Services Commission Mauritius

LEGAL SUPPLEMENT 2181 to the Government Gazette of Mauritius No. 82 of 11 June 2022 OliImac1 / Govt Notices 2022 / The FS (Administrative Penalties) (Amend) Rules 2022 / 1 Proof - 09/06/22 Government Notice No. 140 of 2022 THE FINANCIAL SERVICES ACT 2007 FSC Rules made by the Financial Services Commission under Section 93 of the Financial Services Act

  1. These rules may be cited as the Financial Services
    (Administrative Penalties) (Amendment) Rules 2022.
  2. In these rules –
    “principal rules” means the Financial Services (Administrative Penalties) Rules 2013.
  3. The Schedule to the principal rules is amended –
    (i) by deleting the words “or financial summaries,” in the second row under the heading “Legal Obligation”; and (ii) by adding the following new item – Legal Obligation Amount of administrative penalty for each business day of non-compliance (Rupees /US$*) An obligation, pursuant to
    section 71A (10) of the Act,
    to file with the Commission, once in every year, a financial summary. US$ 10
  4. Commencement
    These rules shall come into operation on 11 June 2022. Made by the Financial Services Commission on 11 June 2022. By Authority: Government Printing Department, La Tour Koenig 82/06/2022 – 1045

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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.

FINANCIAL SERVICES ACT 2007Not in RegAlertFINANCIAL SERVICES ACT 2007 — Not in RegAlertFinancial Services (AdministrativePenalties) Rules 2013Not in RegAlertFinancial Services (Administrative Penalties) Rules 2013 — Not in RegAlertFinancial Services(Administrative Penalties) (A…2022-06-11 · this documentFinancial Services (Administrative Penalties) (Amendment) Rules 2022 (2022-06-11)
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 (2)
Amends
  • Financial Services (Administrative Penalties) Rules 2013Not in RegAlert

    ““principal rules” means the Financial Services (Administrative Penalties) Rules 2013. The Schedule to the principal rules is amended”

Issued under
  • FINANCIAL SERVICES ACT 2007Not in RegAlert

    “THE FINANCIAL SERVICES ACT 2007 FSC Rules made by the Financial Services Commission under Section 93 of the Financial Services Act”

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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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