The Mauritius Revenue Authority on 27th January 2021 released a statement on income subject to partial exemption intended to provide clarifications to tax payers and practitioners on the application of partial exemption on specific income following amendments brought to the Second Schedule of the Income Tax Act by the Finance Act 2018 and to the […]
The FSC Issues Special Purpose Funds Rules (2021) For Mauritius
A new set of rules under the Special Purpose Fund (SPF) regime has been released by the Mauritius Financial Services Commission (FSC) to provide further flexibility and ease access to new markets. The Mauritius National Budget which included the modernizing of the existing Special Purpose Fund (SPF) regime to provide further flexibility and ease access […]
SEC Adopts New Framework for Fund of Funds Arrangement 2021
The Securities and Exchange Commission introduced a new rule 12d1-4 under the Investment Company Act of 1940, the “Investment Company Act” and amended rule 12d1-1 and Form N-CEN, for the fund of funds arrangement. A fund of funds (FOF)—also known as a multi-manager investment—is a pooled investment fund that invests in other types of funds. […]
Fintech Trends as a Future for Banking 2020
The rate of disruption occurring in the financial services industry in an exceptional level, with increasingly more fintech organizations, climbing the positions and changing the manner in which innovation upgrades the experience of moving cash. For organizations in the financial services industry, the disturbance brought about by innovation drove changes has been relentless. The […]
Establishment of the Capital Market Authority in Ethiopia 2020
The National Bank of Ethiopia (NBE) drafted a bill on Capital Market Authority, that is expected to be legislated before the end of 2020. For the past year, a technical committee characterized by members drawn from the central bank, the Ministry of Finance, the Office of the Attorney General and external advisors, has been […]
Adoption of Mobile Money in Africa Post Covid 19
As COVID-19 developed in the landmass’ significant economies, Africa’s leader in digital payment adoption have turned to mobile money as a public-health tool. In the midst of the innumerable estimates that have been reported as of late because of the Covid pandemic, both public and private, many nations across Africa have just dispatched and […]
Mauritius Financial Services Peer to Peer Lending Rules 2020
The Financial Services Commission of Mauritius (FSC) has issued the Financial Services (Peer to Peer Lending (P2P Lending)) Rules 2020 (Peer to Peer Lending Rules) (GN 184 of 2020). The Peer to Peer Lending Rules enable the operation of Peer to Peer lending platforms in Mauritius by P2P Operators which hold Peer to Peer […]
Gibraltar Gambling Industry Post Brexit
The uptake of online gambling in the British market has been significantly high. The aftershocks of Brexit are being felt across a number of industries in Britain, notwithstanding the gambling industry. The impact of Brexit brings speculations and uncertainties, especially with regard to tax revenues generated from the industry. Gibraltar is a go to home […]
Cyprus as a Destination for FinTech companies
Cyprus has become an increasingly attractive FinTech Hub, as the, Financial services remain the fastest growing sector of the Cypriot economy. Firstly, Cyprus has a strong and sophisticated financial services center with a full legal framework. The Cyprus Securities and Exchange Commission (CySEC) governs activities and ensures financial regulations and operations comply with the European MiFID […]
Uncertificated Securities Market in Hong Kong
The implementation of the uncertificated securities market (USM) proposed operational model conclusions in Hong Kong has been arrived at by the joint consultation between the Securities and Futures Commission, HKEX and the Federation of Share Registrars Limited. The consultation was triggered by market concerns that the operational model proposed would compromise some of the settlement […]