COMMUNIQUÉ
High level discussions between the Financial Services Commission (FSC) and the Securities and Exchange Board of India (SEBI)
The Chief Executive of the FSC and his delegation had a meeting with the SEBI on Wednesday 18th July 2018 in Mumbai.
The meeting was held within the framework of the existing MoU between the two regulatory bodies, and was cordial, constructive and fruitful. Both institutions reaffirmed the need for constant engagement and collaboration in regulatory matters between Mauritius and India.
In line with discussions held, FSC received the comfort that SEBI acknowledges all initiatives undertaken by Mauritius to ensure full adherence to best international norms and practices with respect to regulatory oversight and enforcement.
SEBI gave the assurance that it is neither working on, nor contemplating to produce any list at its level, which will identify Mauritius as a High Risk jurisdiction.
SEBI further affirmed that recent media reports are speculative in nature regarding Mauritius and that it has no adverse concerns with respect to the Mauritius jurisdiction.
Both FSC and SEBI have agreed to continue their collaboration and the FSC Representative Office in Mumbai continues to be a key point of contact for SEBI.
Other avenues of collaboration between FSC and SEBI in areas of Financial Technologies and capacity building have equally been discussed.
Financial Services Commission
19 July 2018
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