FSC: Suspension of the Management Licence of Belvedere Fiduciary Limited
FSC Mauritius – Notice is hereby given in accordance with Section 27(7) of the Financial Services Act 2007 (the “FSA”) that the Management Licence of Belvedere Fiduciary Limited (“BFL”), 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, inter alia, on ground that BFL has breached its fiduciary duty under Section 37 of the Trust Act 2001.
Furthermore, in accordance with Section 27(5) of the FSA, BFL 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 until the suspension of the licence is cancelled.
Source: FSC Mauritius – Suspension of the Management Licence of Belvedere Fiduciary Limited
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