FSC issues draft Guidance Notes on Whistleblowing for public consultation

FSC issues draft Guidance Notes on Whistleblowing for public consultation

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The Financial Services Commission (FSC) of Mauritius released a draft of the Guidance Notes on Whistleblowing (“Draft Guidance Notes”) for public consultation on 19 March 2024. This initiative is part of the FSC’s commitment to maintaining a transparent rule-making process. The aim of these Guidance Notes is to establish minimum standards for whistleblowing policies that FSC’s licensees should adopt.

These standards are intended to protect whistleblowers and are built upon good practices already existing within parts of the financial services industry. The specific whistleblowing policy requirements will vary depending on the size and nature of each licensed entity, taking into account the principles outlined in the Draft Guidance Notes.

It is expected that the Guidance Notes on Whistleblowing, once finalized, will not apply to Authorised Companies and Global Business Companies, except for those having a financial services license.

Members of the public as well as industry stakeholders are invited to submit their comments to the FSC by 30 April 2024. This process allows for industry and public input to shape the final regulations, ensuring they are well-suited to the needs and realities of Mauritius’ financial services sector.

To access full communique issued by the FSC, please click here