Regulators

Mauritius Financial Services Commission (FSC)

The Mauritius Financial Services Commission (FSC) is the general regulator of the non-banking financial services sector and global business.

Reminders for regulatory foreign exchange

According to the official website information query, the Mauritius Financial Services Commission (FSC) regulates leveraged foreign exchange.
Under Section 2 of the Securities Act of 2005, "securities" are defined as: options, futures, forwards and other securities or derivatives of commodities. In addition, the definition of "derivatives" includes: futures and options contracts on securities, indices, interest or other interest rates, currencies, futures or commodities. Therefore, it is inferred from the above that the definition of "securities" in the Securities Act 2005 includes contracts for difference.

List of Regulated Companies

A total of 67 companies are regulated and licensed foreign exchange brokers. The full name is abbreviation. Regulatory number. Regulatory status GMG INVESTMENT SOLUTIONS LTD GMG INVESTMENT SOLUTIONS under supervision EXINITY LIMITED Alfred under supervision ORBEX GLOBAL LTD Orbex under supervision HORSE FINANCIAL LTD Ma Hui under supervision AT GLOBAL MARKETS INTL LTD ATFX under supervision CGTRADE (MAURITIUS) LIMITED CGTRADE under supervision KOTAK MAHINDRA (INTERNATIONAL) LTD KOTAK MAHINDRA (INTERNATIONAL) under supervision MCB STOCKBROKERS LTD MCB STOCKBROKERS under supervision SWAN SECURITIES LTD SWAN SECURITIES under supervision VIBHS FINANCIALS LTD VIBHS FINANCI

Organization Profile

Institutional nature
The Mauritius Financial Services Commission (FSC) is the general regulator of the non-banking financial services sector and global business.
Institutional History
Established in 2001, the FSC is authorised by the Financial Services Act 2007 and authorises, regulates and regulates activities in these industries under the Securities Act 2005, Insurance Act 2005 and Private Pension Schemes Act 2012 .
Vision
To be an internationally recognised financial regulator dedicated to making Mauritius a sound and competitive financial services centre for its sustainable development.
Regulatory Objectives/Scope
To promote the development, fairness, effectiveness and transparency of Mauritian financial institutions and capital markets; to combat crime and fraud, and to provide protection for the public investing in non-bank financial products; to ensure the soundness and stability of the Mauritian financial system.

Licence application

In order to conduct global business and other financial services in Mauritius, an individual or institution must apply for a license from the FSC. FSC jurisdiction includes securities, insurance, pensions, global business and other non-bank financial institutions. The license application process for each category is different. For details, please refer to https://www.fscmauritius.org/en/being-licensed/licensed-activities. Click on the corresponding category to view the specific details.

License Type

Regulatory Inquiries

Method 1: Enter the website: https://www.fscmauritius.org/en/being-supervised/register-of-licensees-search-by-name, enter the company name to search

Method 2: Go to the website: https://www.fscmauritius.org/en/being-supervised/register-of-licensees, select "Securities Act 2005" and "Securities Act 2005" for Relevant Acts; Category (category) select "All Category" (all categories); Activity (activity) select the activity type
Note: Forex license: "Investment Dealer (Full Service Dealer Including Underwriting)" in Activity (including foreign exchange dealers) (full service dealers, including underwriting), "Investment Dealer (Full Service Dealer excluding Underwriting)" "Investment Dealer (full service dealer, excluding underwriting),"Investment Dealer (Broker)"Investment Dealer (Broker)

Regulatory complaints

The complaint handling process of insurance companies under the supervision of FSC is as follows:
Step 1:
If you wish to lodge a complaint against an insurer, the insurer should inform you of its internal complaint procedures in accordance with the published guidelines. You can file a complaint in writing or in person with the Insurance Company Complaints Coordinator.
Step 2:
If you are not satisfied with the handling of the Complaint Coordinator, you can fill in the Complaint Form (in English or French) and any supporting documents to the FSC after receiving the final response.
During this process, insurers must:
1) Let the "Complaint Coordinator" be on call at any time;
2) Notify the policyholder of the right to lodge a complaint;
3) Tell the policyholder the steps required to submit a complaint;
4) Confirm receipt of the complaint application within 3 working days;
5) Complete the complaint within 30 working days from the date of application.
For more information on the complaints procedure, see
https://www.fscmauritius.org/media/1224/je_veux_porter_plainte.pdf.
Complaints against other licensees regulated by the FSC:
To lodge a complaint against other institutions supervised by FSC, you can submit a complaint form (in English or French) and relevant supporting documents to FSC, and the person in charge (FSC Chief Executive Officer) information is as follows:
Address: FSC House, 54 Cybercity Ebene, Mauritius
Email: [email protected]
Tel: (+230) 403-7000
Fax: (+230) 467-7172
Submit a complaint online: https://www.fscmauritius.org/en/consumer-protection/complaints-handling/complaints-form

Example of punishment

1.FSC warns that Novatec LLP has never been granted a license. Details of Novatec LLP are: 225 Kingstown Park Road P.O Box 1818, Kingstone St, see https://www.fscmauritius.org/media/4097/notice -warning-against-novatec-llp.pdf.
2. The FSC warned that the Forex Live Fx license was not granted. The website of the Forex Live Fx trading platform is http://fxlivefx.com/company-profile.html. For details, please refer to https://www.fscmauritius.org/media/3287/investor_alert -forex_live.pdf.

FAQs

How does the FSC work with other regulators around the world?
The FSC signs memorandums of understanding with its corresponding international regulators to facilitate information exchange and strengthen capacity building. Since May 2012, the FSC is also a signatory to the International Organization of Securities Commissions (IOSCO) Multilateral Supervisory Cooperation Memorandum of Understanding (MMOU), which enables the Commission to enhance cooperation and information exchange with other IOSCO securities regulators.

Related Links

IOSCO: http://www.iosco.org/
International Association of Insurance Supervisors: https://www.iaisweb.org/
Basel Committee on Banking Supervision: https://www.bis.org/publ/bcbsca.htm

Contact information

Email: [email protected]
Phone: (230) 403-7000
Fax: (230) 467-7172
Address: Financial Services Commissission,FSC House 54 Cybercicy Ebene,Mauritius

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