Disciplinary Proceedings

The Chief Executive of the FSC may refer a matter to the Enforcement Committee (EC), pursuant to section 53 of the FSA, where he has reasonable cause to believe that a licensee:

• has contravened any relevant Act, any direction or order issued under a relevant Act or any condition of the licence;
• is carrying out his business in a manner which threatens the integrity of the financial system of Mauritius or is contrary or detrimental to the interest of the public;
• has committed a financial crime;
• no longer fulfils any condition or criteria specified under the relevant Act for the grant of a licence;
• no longer carries out the business activity for which it is licensed;
• has failed to commence business within 6 months from the date on which it is licensed; or
• is not a fit and proper person.