The Financial Services Commission, Mauritius (FSC Mauritius) is issuing the Guidelines for Advertising and Marketing of Financial Products (the ‘Guidelines’) as part of its “Fair Market Conduct Programme”. The Guidelines set the recommended standards for licensed entities, regarding their advertising function, and promotional roles and responsibilities vis-à-vis consumers of non-banking financial products and services.
The aim of the Guidelines is to promote responsible, ethical and professional conduct by Promoters in relation to the advertising and marketing of non-banking financial products and services, targeting consumers of financial services in Mauritius.
The Guidelines will notably ensure that promoters provide clear, accurate and balanced information in their advertising and marketing materials, and that they do not engage in misleading or deceptive conduct.
The Guidelines moreover comprise some innovative clauses that would allow the FSC Mauritius to monitor the disclosure and release of promotional materials, both in printed and electronic formats. The practice of “cold calls”, which is becoming more frequent nowadays, is inter-alia addressed in the Guidelines.
The FSC Mauritius would like to thank the representatives of the various industry associations, consumer protection bodies and other stakeholders who have worked collaboratively on the Consultative Committee to finalise the Guidelines.
The Guidelines will be effective as from 01 January 2015.
Financial Services Commission, Mauritius
27 October 2014
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