Subject: ITL Newsletter - Financial Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021

PDF Version

Financial Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021

In an effort to encourage licensed service providers in Mauritius to adopt new and emerging technologies, the Financial Services Commission (FSC) has taken the initiative to introduce a regulatory framework, reinforced by the issue of the Financial Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021 (the “Rules”).


As per the Rules, the holder of a Robotic and Artificial Intelligence Enabled Advisory Services licence will be entitled to provide advisory services (including discretionary and non-discretionary investment and portfolio management services) through expert systems and/or computer programs using artificial intelligence enabled algorithms, with limited human intervention. As such, the following set of Rules have been introduced and amended to cater for this licence:


  • The Financial Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021;

  • The Securities (Investment Advice) Rules 2021;

  • The Securities (Solicitation) (Amendment) Rules 2021; and

  • The Financial Services (Consolidated Licensing and Fees) (Amendment No. 3) Rules 2021.


The salient obligations for a licensee under the Financial Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021 are as follows:

The above is not an exhaustive list and the FSC may impose other conditions upon the issue of the licence.


Access the FSC communique here for more information.


If you have any questions or you require more information on the Financial Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021, please get in touch with your usual contact person at ITL or write to us on info@intercontinentaltrust.com



ITL Data Protection compliance programme - Reminder

As you are aware, we hold your contact details on our database and have been sending you regular newsletters and updates about the latest developments in the Mauritius financial landscape and other areas of interest.

Following recent changes in the EU General Data Protection Regulation (GDPR) and the Mauritius Data Protection Act 2017, we now require your consent to hold your personal data. Please click here to confirm that you still want to hear from us and get the latest news about the Mauritius International Financial Centre.


Should you wish to opt out of our future e-mail communications, please click here to stop receiving correspondence from ITL. Alternatively, you may use the unsubscribe button at the bottom of all our communications or send us an e-mail at unews@intercontinentaltrust.com


Data security and protection is of prime importance to us and we invite you to read our privacy policy which provides information about how we manage and process your personal information.


We are only a phone call or an e-mail away. If you have any comments, questions or concerns about any of the information in our policy, or any issues relating to the processing of personal data by ITL, please contact your regular contact person at ITL or write to us on dpo@intercontinentaltrust.com

DISCLAIMER

The information in this e-newsletter was prepared by Intercontinental Trust Limited to provide potential clients with a broad overview of the opportunities available in Mauritius. While all reasonable care has been taken in the preparation of this e-newsletter, Intercontinental Trust Limited accepts no responsibility for any errors it may contain, whether caused by negligence or otherwise, or for any loss, however caused, sustained by any person that relies on it. Readers are advised to consult with appropriate, qualified professional advisors before taking action. Intercontinental Trust Limited will be pleased to discuss any specific issues.

    This is an online snapshot of a newsletter created by the owner of enews2015 (Intercontinental Trust Limited, Level 3 Alexander House, 72201 Ebene, Mauritius) and sent via GetResponse on 2021-07-12. Report abuse