Mauritius - The Financial Services Commission (the “Commission”) publishes its Enforcement Manual (“Manual”) this 12 June 2020.
15/06/2020
The Manual provides an overview of the Commission’s approach to enforcement and the exercise of its enforcement powers. It sets out general policies and procedures which the Commission uses as guidance in detecting, investigating, and taking actions in cases where the relevant laws and /or any other relevant guidelines have been breached.
This Manual is issued with the intent of increasing transparency, certainty, and consistency, and, more generally, to promote the rule-of-law principles that underpin all of the Commission’s enforcement actions.
Chief Executive, Dhanesswurnath Thakoor, said
- “The publication of the Enforcement Manual delivers on the Commission’s commitment to facilitate a better understanding and give broader perspective about the Commission’s efforts to meet its statutory objectives, vision and mission. The Manual aims at increasing the level of clarity and transparency in our work, which in turn promotes a better understanding of our credible deterrence approach.”
The Commission does not intend, by the publication of this Manual, to waive any applicable privileges or protections.
In furtherance, this Manual is not intended to, does not, and may not be relied upon to create any rights be it substantive or procedural and is not enforceable by any party in any matter, civil or criminal.
The Manual will periodically be reviewed and updated.
RELATED LINKS
- The Enforcement Manual can be accessed through this link. https://www.fscmauritius.org/media/84928/enforcement-manual-12-06-2020-final.pdf
- FAQs on the Enforcement Manual can be accessed through this link. https://www.fscmauritius.org/media/84929/faq_enforcement-manual_12june2020-final.pdf
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.