FSC issues new regulatory framework for crowdfunding

The Financial Services Commission (FSC) has issued the Financial Services (Crowdfunding) Rules 2021  – a new regulatory framework to shape and improve access to finance for individuals, entrepreneurs, as well as Small and Medium Enterprises (SMEs) operating in or from Mauritius.

According to Mr. Dhanesswurnath Thakoor, Chief Executive of the FSC, the introduction of these rules on investment-based Crowdfunding represents “another key regulatory milestone for the FSC and demonstrates the fruitful collaboration between the regulator and the industry with the objective of enabling the provision of new financial products/services for the ultimate interests of our stakeholders.”

It is meant to complement the Peer-to-Peer Lending Rules that was issued last year.

In order to cater for this new licence, the Securities (Exemption) Rules 2021 has also been introduced and the Financial Services (Consolidated Licensing and Fees) Rules 2008 has been amended.

The FSC is the integrated regulator for the non-banking financial services sector and global business in Mauritius.