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Financial Services Law in Mauritius
The regulatory architecture behind Mauritius's international financial centre: licensing, banking, securities, and the AML/CFT framework that every transactional and compliance practitioner navigates daily.
The statutory backbone
- Financial Services Act 2007: the Financial Services Commission's founding statute: licensing of non-bank financial services and the global business regime.
- Banking Act 2004: banking licences and supervision under the Bank of Mauritius, alongside the Bank of Mauritius Act 2004.
- Securities Act 2005: public offers, listings, market intermediaries, and market abuse.
- Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA): the AML/CFT core, with its regulations and the FIU's guidance.
- Insurance Act 2005 and the Private Pension Schemes Act 2012: sectoral regimes under FSC supervision.
- Data Protection Act 2017: increasingly central for licensees handling client data.
What the case law and practice keep deciding
- Regulatory enforcement. Challenges to FSC decisions (licence revocations, directions, administrative penalties) and the review mechanisms available to licensees.
- Global business substance. What tax residence and substance require of GBC structures, a question with domestic and treaty dimensions frequently tested in litigation.
- AML/CFT compliance. The reach of customer due diligence and reporting duties, and the consequences of failures, an area reshaped after Mauritius's successful exit from the FATF grey list.
- Banking disputes. Account freezes, banker's duties, and guarantees.
- Cross-border insolvency and asset recovery involving Mauritian vehicles, often ending at the Privy Council.
Researching financial services law with AI
This practice area layers statutes, subsidiary regulations, regulator guidance, and case law more densely than any other in Mauritius. Themis holds all 17,800+ regulations alongside the Acts and judgments, so a single query, "What are a management company's obligations when a client is a PEP?", surfaces every applicable layer, cited.
Research financial services law in minutes
Themis is in private beta with Mauritian practitioners. Every answer cited to the Act, regulation, or judgment it comes from.
Request Early Access →General information, not legal advice. For advice on a specific matter, consult a member of the Mauritian bar. Explore more topics in the Mauritius Law Hub.