FSC communicates indicative timelines for the processing of applications for funds and advisory services
FSC communicates indicative timelines for the processing of applications for funds and advisory services
- Applicants must demonstrate that they are able to abide by all legislative requirements pertaining, but not limited to, Know Your Customer, Customer Due Diligence, Anti-Money Laundering and Counter Terrorist Financing, as well as, substance requirements on an ongoing basis;
- Applicants must meet the Fitness and Propriety requirements. They must respond promptly to the FSC’s queries and fully disclose all requested information that is relevant to the assessment of the application. The FSC takes very seriously any non-disclosure or misleading information that could impact its assessment; and
- The Management Company will have to respond within 15 days to the FSC’s initial queries and a further 10 working days for subsequent queries.
Management Companies are also reminded of their obligations to submit complete applications to the Commission as per the relevant Licensing Criteria.
Applications submitted to the FSC not meeting the above will not be guaranteed a turnaround of 60 days.
The FSC reaffirms its commitment to work in close collaboration with industry stakeholders in maintaining the competitiveness of the Mauritius International Financial Centre.