The Financial Services Commission of Mauritius ("FSC") has issued a circular letter on the 06 November 2020 on the "Code on the Prevention of Money Laundering & Terrorist Financing". The circular letter makes mention that the Code on the Prevention of Money Laundering & Terrorist Financing issued by the Financial Services Commission (the 'Commission') in March 2012 ('Code 2012') is repealed until the issuance of any additional enforceable AML/CFT requirements.
The circular letter highlights that the repeal of the Code 2012 shall not:
- Affect any obligations or liability incurred under the repealed Code 2012;
- Affect the previous operations of the repealed Code 2012 or anything duly done or suffered under the repealed Code 2012;
- Affect any regulatory action already taken as a result of non-compliance with the repealed Code 2012; or
- Affect any investigation carried out under the repealed Code 2012.
Please click HERE to read the full circular letter.
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