The Financial Services Commission (FSC) remains highly supportive of Fintech-related initiatives in Mauritius. In this respect, the FSC now takes a step further in ensuring more regulatory certainty with the issue of Guidance Notes on the Security Token Trading Systems under section 7(1) (a) of the Financial Services Act 2007.
The purpose of the Guidance Note is to provide for the implementation of a common set of standards for the licensing of Security Token Trading Systems in Mauritius. While commenting on the release, Mr Dhanesswurnath Thakoor, the Chief Executive of the FSC declared that:
“As part of our core strategy, the FSC is aiming at positioning Mauritius as a regional hub of sound repute in the field of Fintech. The publication of a
Guidance Note on Security Tokens Offering (STO) and Security Tokens Trading Systems is another stepping stone in building an open and transparent regulatory regime for Fintech in Mauritius. We already have a growing interest in these specific licences and are expecting to receive several applications in the upcoming months”.
The Guidance Notes also highlight the requirements to comply with Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) laws and codes, data protection laws, as well as, on the implementation of good market practice for an efficient,
transparent and integrated financial market.
About the FSC
The FSC is the integrated regulator for the non-bank financial services sector and global business. The vision of the Commission is to be an internationally recognised Financial Supervisor committed to the sustained development of Mauritius. As a sound and competitive Financial Services Centre 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 to provide protection to members of the public investing in non-banking financial products; ensure the soundness and stability of the financial system in Mauritius.
For more information, download the full Guidance Notes.
Photo by Xavier Coiffic on Unsplash
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