Financial Services Commission, Mauritius

Malaysia regulations

The Financial Services Commission (FSC) is, in its own words, “the integrated regulator for the non-bank financial services sector and global business” in Mauritius. It was established in 2001 and licenses, regulates, monitors and supervises business in the non-bank financial, insurance, pension, securities and virtual asset sectors.

SmartChecker links every fact on this page to FSC Mauritius’s own published source.

About Financial Services Commission, Mauritius

The FSC is the single supervisor for everything in Mauritian finance that is not a bank: insurance, pensions, securities, global business and virtual assets. Banks are the Bank of Mauritius’ responsibility, not the FSC’s.

It is mandated under six laws — the Financial Services Act, the Captive Insurance Act, the Insurance Act, the Private Pension Schemes Act, the Securities Act, and the Virtual Asset and Initial Token Offering Services Act.

What it does

  • Licenses, regulates, monitors and supervises the conduct of business in the sectors its laws cover.
  • Elaborates policies directed at the fairness, efficiency and transparency of Mauritius’ financial and capital markets.
  • Takes measures to prevent and address investment business abuse, market abuse and financial fraud.
  • Works with the Bank of Mauritius on the soundness and stability of the financial system.
  • Makes recommendations to the Minister on objectives, policies and priorities for the sector.

Can you rely on it?

For what it covers, yes. The FSC is the statutory licensing authority for non-bank financial services and global business in Mauritius, and its own register is the authoritative record of who holds a licence there. Two limits are worth knowing. It does not supervise banks — that is the Bank of Mauritius — so a Mauritian licence is not a banking licence unless it says so. And a Mauritius licence says nothing about whether a firm may deal with you where you live: a company licensed in Mauritius and soliciting Malaysians still needs Malaysian authorisation, and SmartChecker checks the Malaysian registers separately.

Source: Who we are

Who runs FSC Mauritius

Board of the FSC

The FSC is governed by its Board: a Chairperson, a Vice-Chairperson and seven independent non-executive directors. Members serve three-year terms and may be reappointed, and it is the Board that appoints the Chief Executive, who runs the Commission day to day. The FSC's page does not say who appoints the Board, so neither does this.

  • Mr Ramsamy ChinniahChairpersonFinancial Services Commission, Mauritius
  • Mr Rajeshsharma Ramloll, SCVice-ChairpersonFinancial Services Commission, Mauritius
  • Mr Sarwansingh PurmessurBoard Member
  • Mr Mahess RawoteeaBoard Member
  • Mr Hemraz Oopuddhye JankeeBoard Member
  • Mrs Shaheena Abdul CarrimBoard Member
  • Mr Hansraz MullooBoard Member
  • Mr Yashraj BhudoyeBoard Member
  • Mr An-Noor Hassam Abdool GaffoorBoard Member

Source: FSC Mauritius — Board of the FSC · as read on . Names and posts only; SmartChecker publishes no photographs from that page.

Regulator details

Full name
Financial Services Commission, Mauritius
Short name
FSC Mauritius
Type
Integrated regulator
Established
Set up under
Financial Services Act
Covers
Mauritius — non-bank financial services and global business
Official registers
FSC Online Public Register (OPR)
Source
Who we are
SmartChecker checked
Website
fscmauritius.org