The Financial Services Commission, Mauritius (FSC) is the integrated regulator for the non-bank financial services sector and global business. Established in 2001, the FSC is mandated under the Financial Services Act 2007 and has as enabling legislations the Securities Act 2005, the Insurance Act 2005 and the Private Pension Schemes Act 2012 to license, regulate, monitor and supervise the conduct of business activities in these sectors.

The vision of FSC

The vision of the FSC is "to be an internationally recognised Financial Supervisor committed to the sustained development of Mauritius as a sound and competitive Financial Services Centre".

The mission of FSC In carrying out its mission, the FSC aims to:

promote the development, fairness, efficiency and transparency of financial institutions and capital markets in Mauritius;

suppress crime and malpractices so as to provide protection to members of the public investing in non-banking financial products; and

ensure the soundness and stability of the financial system in Mauritius.

Core functions of the FSC

  1. Regulate and supervise - the FSC regulates and supervises entities licensed and/or registered under its Enabling Laws.
  2. License - the Financial Services (Consolidated Licensing and Fees) Rules 2008 apply to all entities licensed and regulated by the FSC and aim at streamlining the licensing process by providing a comprehensive set of licensing criteria and requirements within a well-defined and consolidated framework.
  3. Enforce regulatory and compliance requirements - the FSC requires that its licensees demonstrate compliance with the requirements set out in the legislative framework. Our legislation has over the years been consolidated to reinforce our powers to mitigate risks while creating an innovative business environment.
  4. Policy formulation - the FSC elaborates policies which aim at ensuring fairness, efficiency, transparency and stability of the financial system in Mauritius.
  5. Combat fraud and money laundering - the FSC takes measures to prevent and address investment business abuse, market abuse and financial fraud in relation to any activity conducted in the non-banking financial services and global business sector by implementing an Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) framework and adhering to international norms and standards.
  6. Promote development of the sector - the FSC has the statutory obligation to promote development in the financial services sector so as to respond to new challenges and achieve economic stability. In this respect, the FSC values the contribution of the industry and other stakeholders.
  7. Ensure consumer education and protection - the FSC through its legislative framework ensures the protection of consumers and investors. The FSC promotes access to financial services through dissemination of financial information and awareness of the benefits and risks associated with the financial markets.

FSC One Platform

The FSC One Platform was officially launched on 12 August 2021 by the Honourable Pravind Kumar Jugnauth, Prime Minister of the Republic of Mauritius. The National Budget Measures for 2021/2022 announced the introduction of the FSC One platform as an online licensing portal.

At the initial phase, the platform will help in tracking the authorisation process and provide more visibility to stakeholders and licensees on applications submitted to the FSC. This integrated innovative digital system will also enable seamless, streamlined and optimised process for the filing and conduct of oversight of FSC’s licensees at a later stage, thereby allowing the FSC to gear up in its paperless policy and step into the league of sustainable environmental-friendly organisations.

Visit the website of the Financial Services Commission.