The Financial Services Commission, Mauritius (FSC Mauritius) entered into a Memorandum of Understanding (MoU) concerning consultation, cooperation and exchange of information related to the supervision of Alternative Investment Fund Managers’ Directive (AIFMD) entities with the Autorité des Marchés Financiers (AMF), France with effect from 19 September 2014. The Chief Executive of the FSC Mauritius, Ms Clairette Ah-Hen, signed the MoU in the presence of His Excellency Mr Laurent Garnier, French Ambassador to Mauritius at the FSC House on 14 October 2014.
The AIFMD primarily introduces a number of requirements with the objective to:
a) create a comprehensive and effective regulatory and supervisory framework for Alternative Investment Fund Managers (AIFMs);
b) enhance the transparency of the activities of these AIFMs and their funds (broadly categorised as non-harmonised funds/Alternative Investment Funds (AIFs) in the form of hedge funds, private equity funds and real estate funds amongst others) towards investors and public authorities; and
c) improve the macro-prudential oversight of the sector in the EU.
Upon signing of the MoU, Ms Clairette Ah-Hen, Chief Executive of FSC Mauritius stated that:
“The signature of this MoU came to reaffirm FSC Mauritius commitment to the highest standards of international engagement and information sharing. Strong cultural and emotional links exist between Mauritius and France due to history and current relationship between the two countries. With the signature of this MoU, the FSC Mauritius looks forward to intensify cooperation with France especially in the field of financial services.”
The FSC Mauritius has so far signed 25 MoUs with European Regulators with regards to the supervision of AIFMD entities.
Financial Services Commission, Mauritius
15 October 2014
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