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problem1. What are the objects, functions and powers of the Financial Services Commission as laid down in The Financial Services Act 2007.

problem2. The Government of Mauritius introduced a series of legislation in 2002 to promote a clean and reputable financial service centre. One of the legislations is the Financial Intelligence and Anti-Money Laundering Act under which the Financial Intelligence Unit (FIU) was set up.

problem3. What are the functions of the FIU and the role of the Board as set out in the Act.

problem4. Describe the reporting process of suspicious transactions and the relevant information that should be submitted to FIU.

problem5. ‘The Borrower Protection Act 2007 provides the legal framework for the setting up of an Office of the Commissioner for the Protection of Borrowers whose credit facilities not exceeding Rs 2 million and stipulates clearly the obligations of lender and borrower.’ Discuss.

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