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Mauritius: FSC issues Administrative Penalties Regulatory Framework
The Financial Services Commission ('FSC') issued, on 19 August 2019, its Administrative Penalties Regulatory Framework ('the Framework'). In particular, the Framework sets out the general principles and the approach adopted by the FSC regarding the imposition of administrative penalties pursuant to Section 52(3) of the Financial Services Act, Act No. 14 of 2007. Moreover, the Framework applies, among other things, to violations of the Financial Intelligence and Anti Money Laundering Act 2002.
You can read the Framework here.
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