Further to our communiqué of 19 March 2020 (https://www.axis.mu/newsroom/important-communique-covid-19-update-2/), where we informed you that Mauritius was entering into a period of national confinement for a period of two weeks, the Honourable Prime Minister announced on the evening of 30 March 2020 that the existing curfew will be extended until 8 pm local time on Wednesday 15 April 2020. This decision has been taken after a review of the prevailing situation in the country, the number of confirmed cases of Covid-19 and the risks associated with terminating the curfew this week.
Our Business Continuity Plan remains operational and our employees are working from home in order to service client needs.
The Financial Services Commission (“FSC”) of Mauritius has also issued a communiqué (the “Communiqué”) with regards to filing and reporting obligations of licensees during this curfew period. The FSC is reminding Licensees that their filing and reporting obligations must be submitted through the Online Data Capture platform (ODCS) which is serviceable and the FSC will continue its online operations. The FSC also informs that it shall apply a flexible approach when monitoring compliance to the filing and reporting obligations falling strictly during the curfew period, provided submissions are made by 30 June 2020.
With respect to administrative penalty and to alleviate regulatory burden on the licensees during such global crisis, the FSC will not charge administrative penalties for late filing and reporting obligations due for end March 2020, arising strictly because of the COVID-19 curfew period, provided submissions due for end March 2020 are made on or before 30 June 2020. This shall not apply to outstanding filing and reporting obligations and outstanding penalties for previous years which are in non-compliance with regulatory requirements.
Please read the FSC Communiqué on: https://bit.ly/2UT0RVA
We wish you, your families, and your staff continued health and safety throughout this challenging period.
Kind Regards
The Axis team
