ESMA approves agreement with Mauritius FSC for Mauritius Fund business in Europe.

04 Nov 2013
 
 

The European Securities and Markets Authority ‘ESMA’ confirms approval of a cooperation agreement with the Mauritius Financial Services Commission which effectively enables Mauritius Based - Licensed Funds to continue to market in Europe under the private placement regimes of EU Member States came into force on 22 July 2013 with the introduction of the EU Alternative Investment Fund Managers Directive ‘AIFMD’.  The ESMA’s board of Supervisors approved an MOU on behalf of the 27 EU Member State securities regulators as well as the authorities from Croatia, Iceland, Liechtenstein and Norway on the 22 May 2013. In addition to the MOU with ESMA, it is expected that bilateral agreements will also be signed between each EU securities regulator and non-EU authorities such as the Mauritius FSC. The CEO of the Mauritius FSC, Ms Clairette Ah-Hen issued the following statement :

“ The ESMA MOU reaffirms the FSC’s commitment to the highest standards in international engagement and information sharing. The milestone is set to contribute towards sustaining the Mauritius International Financial Centre as an attractive jurisdiction for basing Funds. The FSC looks forward to working with ESMA counterparts. ” 



 
 
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