Mauritius is set to put several global and India-focussed funds wanting to set up structures in Mauritius under the country’s regulatory glare, Business Standard reported.
Mauritius’ financial services regulator, Financial Services Commission, is undertaking extensive background checks on fund managers and KYC information of new fund applications, the report said citing sources, adding that it is also reaching out to other countries’ financial regulators to verify the same.
The increased scrutiny is pushing back timelines and jacking up costs of setting up India-focussed funds in Mauritius, said the report.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Supreme Court dismisses plea seeking postponement of CA exams; details here
Apr 29, 2024 2:29 PM
Just 8% women candidates contested first two phases of Lok Sabha polls
Apr 29, 2024 12:00 PM
The sexual assault case against Prajwal Revanna — here's what we know so far
Apr 29, 2024 11:36 AM
Repolling underway at one polling booth in Chamarajanagar LS segment in Karnataka
Apr 29, 2024 10:32 AM