Nou zile, nou gazette!

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Subject: Nou zile, nou gazette!

Helloooooo thereeee People!

Undeniably, this week's theme had to be our Independence celebrations! 🔴 🔷 ⭐ 💚

We are going to spare you the usual narrative about the when, why, what, how we attained our Independence. Instead, let's have a little chat about being truly independent - financial independence is, we bet, the first we always think about (because obviously that's how you manage to travel the world or have the house of your dreams 😜).

Buuuuttttt... let's also face it. Today, more than ever, emotional independence plays a phenomenal role in your success. Being able to accept who you are (with your flaws and all), not letting others' opinions get the best of you and being your own Hero/ SHE-ro is true independence! 💖

TECHNICAL NEWS

Re-election of FSC Mauritius as the AMERC Representative to the IOSCO Board

The Financial Services Commission, Mauritius (“FSC”) has been re-elected as the Africa/Middle-East Regional Committee (“AMERC”) Representative to the International Organization of Securities Commissions (“IOSCO”) Board. As the AMERC Representative, the FSC joins the IOSCO Board to serve a new two-year term (2024- 2026). The FSC will be represented by its Chief Executive, Mr Dhanesswurnath Thakoor. Please see attached communique for additional information.

FSC Survey - Inflow and Outflow of income to and from Mauritius

The Financial Services Commission (“FSC”) is conducting a survey to collect information pertaining to Global Business Companies (“GBCs”) in respect to income received from and expenses paid to a list of countries.

The above-mentioned exercise calls for Income and Expenses for the year ended 2023 for a selected list of countries only. The information collected is needed to get insights into specific types of inflows and outflows as part of an impact assessment exercise conducted by the authorities following the agreement to the signing of a Protocol to amend the Double Taxation Avoidance Convention between the Government of the Republic of Mauritius and the Government of the Republic of India in order to comply with the BEPS minimum standards of the OECD.

FATF Guidance on Beneficial Ownership and Transparency of Legal Arrangements

Following the February 2023 revisions to FATF Recommendation 25 on Beneficial ownership and transparency of legal arrangements, the FATF has updated its risk-based guidance for this Recommendation. The guidance complements the existing guidance on Recommendation 24 on legal persons and aims to help stakeholders from the public and private sectors to implement the new requirements more effectively. The guidance has been attached for your reference.

Changes brought to the UNSC Consolidated List

Please refer to the attached changes brought to the UNSC consolidated list.

IN THE NEWS

Business Magazine | Shamin A Sookia from Perigeum Capital

ANNOUNCEMENTS

ITL | Brochure release

ITL has released a brochure on trading paper. Check it out as per attached.

Admin Communiques

1. Fridge

All food containers being placed in the fridge should be named. If not named, it should not be in the fridge.

If a bowl is in the fridge for more than one week, it will be on the list of wanted owner every week.

All milk, sugar and coffee containers once opened should be closed properly to avoid wastage and unwanted invitees to come inside.

2. Toilet 🚽

You are reminded that this toilet on Level 4 is for clients and Directors ONLY.

3. REMINDER

All openings should remain closed when AC is on.

General Cleaning | Level 3

A Level 3 cleaning is planned on Saturday 16^th March 2024 as from 8:30 a.m.

On the menu: deep vacuum, carpet shampoo, and cleaning of tiled floor, desks, PC screens, telephone, windows, blinds, amongst others. Consequently, please:

Tidy and clear up your desk, storing your belongings (pen, diary, laptop, etc...) in your drawer;
Remove all documents and boxes on, underneath and around your desk.

We count on your usual collaboration 😊

ITL | Outpace Programme

If you know anyone who might be interested in our Outpace Programme, please do share the below advert.

HAPPENINGS

Standard Chartered Presentation in Johannesburg

You may have noticed that the office of Varounen is currently empty - indeed, he joined Willem in Johannesburg. They were offered the opportunity to present the Mauritius IFC to the Standard Chartered Team in South Africa. 💪🏻

VAITOS - Class S licence

ITL has received its first in-principal approval for the licence under VAITOS. Congrats team and cheers to many more to come 😉

Bell ring 🔔

Happy to hear the bell ring on Level 4. Harsheenee has proudly rung the bell to announce the onboarding of a new client (his first appearance in the group). Congrats Harsheenee and team. 🎉

Independence day 🔴🔵🟡🟢

We have celebrated 'nou zile' this week at the office. We heard that those who were on local leave missed out on some delicious snacks. 😅

International Insights Initiative (III) Programme

Our veryyyyyyy first IIIer has spread her wings and flown to conquer new horizons! 👏👏👏👏👏

Ourvashi Chinappen landed in South Africa on Monday, whereby she will be spending two amazing weeks of learning and discovery with our SA Team. She has already settled down so nicely there and we cannot help but gush at her welcome goodie bag 🤗

One week's almost down and we hope you are making the most of it Ourvashi!

Stay tuned People as we will post updates about her adventure! 😃

Andersen | International Women's Day

Andersen team celebrated Women's Day by offering all their ladies a gift with a personalised card. Although we know that women should be celebrated each and every day, it does not hurt to have a kind gesture from time to time 🤩😊