High level discussions between the Financial Services Commission (FSC) and the Securities and Exchange Board of India (SEBI)
A recent press release from the Financial Services Commission (FSC) confirmed a meeting with the Securities and Exchange Board of India (SEBI) on Wednesday 18th July 2018 in Mumbai. The meeting was a high level discussion where SEBI gave the assurance that it is neither working on, nor contemplating to produce any list at its level, which will identify Mauritius as a High Risk jurisdiction. The communication from the FSC describes the meeting as cordial, constructive and fruitful. Both institutions reaffirmed the need for constant engagement and collaboration in regulatory matters between Mauritius and India.
In line with discussions held, FSC received the comfort that SEBI acknowledges all initiatives undertaken by Mauritius to ensure full adherence to best international norms and practices with respect to regulatory oversight and enforcement. SEBI further affirmed that recent media reports are speculative in nature regarding Mauritius and that it has no adverse concerns with respect to the Mauritius jurisdiction. Both FSC and SEBI have agreed to continue their collaboration and the FSC Representative Office in Mumbai continues to be a key point of contact for SEBI. Other avenues of collaboration between FSC and SEBI in areas of Financial Technologies and capacity building have equally been discussed.
To see the original communication from the FSC, please click HERE.