New Financial Services Legislations amendments – Seychelles The President of the Republic of Seychelles, Mr. Wavel Ramkalawan vetted the new financial services legislation amendments following the approval of the National Assembly. The amendments have been gazetted on the 6th of August 2021. The proposed amendments pertain to the International Corporate Service Providers (ICSP) Act that governs businesses that are known as Corporate Services […]
Consultation Paper on – The Regulatory Framework for Structured Investment-Linked Insurance Business in Mauritius (SILIB)
Introduction – Structured Investment-Linked Insurance Business As announced in the National Budget 2020-2021, the Financial Services Commission Mauritius (FSC) will introduce a regulatory framework for Insurance Wrappers, which will henceforth be referred to as Structured Investment-Linked Insurance Business (SILIB) in order to enhance the competitiveness of the financial services sector. The FSC is proposing to introduce the SILIB within […]
Auction of 91-Day, 182-Day and 364-Day Treasury Bills
Auction of 91-Day, 182-Day and 364-Day Treasury Bills The Central Bank of Kenya is putting 91-Day, 182-day and 364-Day treasury bills on auction this Thursday 29th July with the value dated set on next Monday 2nd August. The previous average interest rates of the bills were 6.477%, 6.955%, and 7.432%, respectively. What are Treasury Bills Treasury Bills are secure, short-term investments on […]
Auction of New Benchmark Three-Year Government of Mauritius Treasury Notes.
Under the section 5 of the Public Debt Management Act 2008, and section 57 of the Bank of Mauritius Act 2004, the Bank of Mauritius is happy to advertise the publishing of a New Benchmark Three-Year Government of Mauritius Treasury Notes that will be maturing on 27 July 2024 through an auction, which is to be held […]
Auction of new benchmark five-year Government of Mauritius Bonds 2021
According to the issuance plan dated April 22nd, 2021 and under section 5 of the Public Debt Management Act 2008 and section 57 of the Bank of Mauritius Act 2004, the Bank of Mauritius (BoM) is pleased to advertise the issue of a New Benchmark Five-Year Government of Mauritius Bonds. They will mature on May […]
Estate Planning in 2021: What you need to know – effective solutions.
With the uncertainty we face during the COVID-19 pandemic, the need for effective estate planning has become more apparent. Furthermore, the prospect of important changes to the federal transfer tax regime makes 2021 the ideal time for attorneys to help their clients focus on updating old estate planning documents, create new ones to ensure assets […]
Introduction of a Regulatory Framework to Facilitate Foreign Currency Borrowings by Licensed Finance Companies 2021
The Monetary Board of the Central Bank of Sri Lanka (CBSL) issued directions on foreign currency borrowings by Licensed Finance Companies (LFCs) on 9th April 2021 with a view to provide flexibility for LFCs to obtain low-cost funding from foreign sources to support their business expansions. The objectives of these directions are to stabilize any […]
Mauritius : Statement Of Guidance On Income Subject To Partial Exemption 2021
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. […]
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