The FSC Encourages Members of Legal Profession to Become Interested in Financial Services

The scale of development so far recorded in the financial services sector as well as its many prospects are the two elements in this Thursday, July 26, 2012 prompted the Financial Services Commission (FSC) to change her mind shoulder time one afternoon.

16 to 18.30, the FSC has traded his coat regulator to plead the cause of the financial services sector in Mauritius who has a huge need for a range of legal powers. That was before an audience made up of lawyers who practice in both the private and the public sector.

They were four to expose the many uncorked not sufficiently exploited by Mauritian lawyers. It was Ken Poonoosamy, Managing Director of the Board of Investment, State agency responsible for promoting the Mauritian destination for foreign investors Vipin Mahabirsingh, Managing Director of the Central Depository & Settlement Co Ltd, Central filings and company responsible for validating regulations related to securities transactions Hawabhay Kamal, president of the Association of Trust & Management Companies, which includes companies specializing in business management and foreign investors Sri Nivasan Vaideswaran, president of the Insurers Association of Mauritius.

Like a leitmotif, the urgent appeal to specialized legal skills associated with a rapidly expanding sector is back on the lips. It is this long list of skills. Were mentioned among other things, that brokers, custodian banks of goods, money managers, advisors on investment, experts in the field of conciliation, arbitration, in the interpretation agreement provisions for the removal of double taxation and investment protection, or even that of experts in international stock trading.

"We are very pleased with the importance that the lawyers have given to the approach of the Financial Services Commission. The Mauritian financial services sector is full of possibilities for the legal profession. The growing interest in African destination has two opportunities for our lawyers. Not only they can offer their expertise to investors on the floor of Mauritius, our lawyers like many accounting firms can export their competence squarely in Africa. This workshop has helped staff the Financial Services Commission to take advantage of an interaction with the lawyers. We will follow up the workshop. We will study the possibility of organizing such an exchange for other professions, " insisted Mark Hein, president of the FSC.

Shalini Gokhool, Advocate of the Stock Exchange of Mauritius , Arvin Halkhoree the stock exchange, a lawyer who is also director of a management company or the procurator-Arveena Ghose Dawaking are part of this new breed of members legal profession very familiar with the Mauritian financial services sector. Arveena Ghose-Dawaking raises the problem of access to this area by small firms of lawyers. She wishes there were all given the opportunity to offer their skills in this sector. It is not against the idea that operators in this sector have recourse to tendering for the service of lawyers. Arvin Halkhoree believes that the financial services sector will allow lawyers Mauritius to diversify their responsibilities. "It is essential that our lawyers are familiar with the specific legislation in the financial services sector in Mauritius," says Shalini Gokhool .

"The Financial Services Commission," said Clairette Ah-Hen, Chief Executive Officer CEO of CSF, "is committed to making Mauritius a financial center stable, credible and trustworthy, and where it is comfortable to invest" .

Yatin Varma, the Attorney-General, said that the development of the Mauritian financial services sector has changed the landscape of the practice of the legal profession in Mauritius over the past ten years. "The outlook for the financial services sector in Mauritius indicate that this sector has numerous and uncorked a challenge. Maurice needs highly competent lawyers to meet demand in this sector. "

Xavier-Luc Duval, Deputy Prime Minister and Finance Minister, expressed the determination of the Government of Mauritius does not skimp on the means necessary to protect the reputation of the financial services sector in Mauritius. "We advocate the tolerance level zero with respect to offenses may be committed in a financial services center. Those in the first line should go as far as possible in terms of the profiling of their customers. Our reputation is our treasure. "