Public Notice
INVESTOR ALERT
All entities providing non-banking financial services in Mauritius must be licensed/ authorised /registered or approved (‘regulated’) (as may be appropriate) by the Financial Services Commission, Mauritius (the ‘FSC Mauritius’).
Statement
The FSC Mauritius alerts members of the Public and all other Stakeholders to the fact that there may be a number of entities engaged in financial services or financial services business activities as defined under the Financial Services Act 2007 (‘the FSA’) which are operating without being regulated under the relevant Acts.
The FSC Mauritius urges the Public/Stakeholders to exercise necessary caution prior to undertaking any financial services or financial business activities, and to deal only with persons/entities which are duly regulated by the FSC Mauritius under the relevant Acts. The FSC Mauritius cautions the Public/Stakeholders that there are numerous risks associated in dealing with unregulated entities. These may include losing money invested through fraudulent means.
The legal position
The FSC Mauritius is empowered, under section 6 of the FSA to, inter alia:
(a) license, regulate, monitor and supervise the conduct of business activities in the financial services sector and of global business;
(b) carry out investigations and take measures to suppress illegal, dishounorable and improper practices, market abuse and financial fraud in relation to any activity in the financial services and global business sectors; and
(c) take measures for the better protection of consumers of financial services.
All relevant entities wishing to engage or engaged in financial services shall apply for the appropriate licence(s)/authorisation/registration or approval for the conduct of their respective businesses.
Action
The Public/Stakeholders are invited to consult the Register of Licensees available on the FSC Mauritius website through the link,
before dealing with any entity. They may also wish to check for any investor alerts or any communiqués posted on FSC Mauritius website.
Stakeholders and the Public are also invited to contact the FSC Mauritius at
fscmauritius@intnet.mu or on + 230 403 7000, should they hold any material information/evidence that any person/entity may be infringing the relevant provisions of the FSA. All communication with the FSC Mauritius will be treated as strictly confidential.
Financial Services Commission, Mauritius
10 September 2018
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