Mauritius likely to put India-focussed funds under its regulatory lens, says report

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.