Informed consumers make better financial decisions. Given the complexity of the financial services sector, in an effort to reach out and be more visible to the public, the FSC embarked on its Consumer Education Outreach Programme in 2012. To this effect, the FSC launched the Consumer Education Roadshow in November 2012 in various parts of the island including Rodrigues. During this Campaign to sensitise consumers about financial services, officers of the FSC went to various localities of Mauritius, including Rodrigues Island, to talk on insurance, capital markets and other investment products and services and explain the risks and benefits as well as the importance of terms and conditions when investing. The FSC highlights to the public the importance of verifying and ensuring that companies offering financial products and services are duly licensed and authorised by the FSC or the Bank of Mauritius (BOM).
The success of the programme in 2012 advocated the need for the development further initiatives under the FSC Consumer protection mandate. Thus, the FSC regularly conducts consumer awareness talks for the different sections of the Mauritian population in a targeted approach. The focus of the programme are direct consumers of financial services and products on the one hand and on the other, stakeholders dealing with consumers on a regular basis. This approach ensures reaching the maximum number of consumers effectively and in a timely manner as these stakeholders are often the first interface with the public. The objective, therefore, is to provide them with the necessary information they need to counsel members of the public who come to them with financial products-related issues.
List of initiatives already undertaken: