October 06, 2020

The Financial Services Commission (“FSC”) of Mauritius has issued practice notes for qualified trustees and management companies when providing corporate trusteeship services and recording beneficial ownership information

The FSC is committed to engage with various international standard setting bodies including the Financial Action Task Force (the “FATF”). The FATF revised its 2012 Recommendations which, inter alia, include recommendations on transparency and beneficial ownership information, customer due diligence and record keeping obligations of Financial Institutions.

 

The objective of these Practice Notes is to provide for guidance on maintaining beneficial ownership information for Qualified Trustees and Management Companies when they provide corporate trusteeship services as well as to enhance transparency of Legal Arrangements.

 

For more information on the practice notes, we invite you to click on the link.



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