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Regulators

Suspension of the Management Licence of Belvedere Management Limited 

30 Apr 2015 by OneStopBrokers
FSC Mauritius logo

Notice is hereby given that in accordance with Section 27(7) of the Financial Services Act 2007 (the “FSA”), the Management Licence of Belvedere Management Limited (‘BML’), having its registered address at 7A, 7th Floor, Ebene Mews, 57 Ebene Cybercity, Mauritius has been suspended with immediate effect.

The Financial Services Commission, Mauritius (the ‘Commission’) has taken this decision under Section 27 of the FSA, inter alia, on the following grounds:

BML has failed to:

(i) comply with the specific provisions provided under the FSA;

(ii) comply with the Code on the Prevention of Money Laundering and Terrorist Financing; and

(iii) adhere to its duties as Management Company, Registered Agent, Company Secretary and CIS Administrator.

Furthermore in accordance with Section 27(5) of the FSA, BML shall cease to carry out the activity authorised under its licence but shall remain subject to the obligations of a licensee and to the directions of the Commission unless and until the suspension of the licence is cancelled.

Source: FSC Mauritius – Suspension of the Management Licence of Belvedere Management Limited

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