Signature of MoU between the FSC and the Bank of Russia

The Financial Services Commission, Mauritius (FSC) and the Central Bank of the Russian Federation (Bank of Russia) entered into a Memorandum of Understanding (MoU) on 8th June 2018.

The MoU was signed by Harvesh Seegolam, Chief Executive of the FSC and Ms Ksenia Yudaeva, First Deputy Governor of the Bank of Russia at the Presidential Library in Saint Petersburg on the margin of the 27th Annual International Financial Congress, which was attended by Governors of Central Banks, Chairmen and Chief Executives of leading regulatory bodies, as well as key representatives of international standard-setting organisations and other global financial institutions.

The MoU signed between the FSC and the Bank of Russia establishes a mechanism for mutual assistance and facilitating exchange of information between both authorities. This MoU will also contribute to further promote an efficient collaborative model between both jurisdictions, by inter alia enhancing the supervision of cross-border transactions in the fields of financial markets, insurance and pensions.

This initiative is in line with the FSC’s commitment to engage more actively with its counterparts in line with international best practices.