Regulator revokes Global Business License of JP Market (Mauritius) Ltd

The Global Business Licence of JP Markets (Mauritius) has been revoked by the Financial Services Commission of Mauritius over several statutory breaches of the Financial Services Act 2007.

The revocation took effect on September 21, 2021 after JP Markets (Mauritius) was found to have acted in breach of:

• Section 19(1) (a) of the FSA;
• Section 22(1) of the FSA;
• Section 71(3) (a) (iii) of the FSA;
• Section 71(3) (b) (i) of the FSA;
• Its licensing condition which states that “The Company shall at all times have a Management Company as Secretary”; and
• Its licensing condition which states that “The Company shall not conduct business other than that which is consistent with such purpose as stated in the business plan submitted to the Commission”.