The Chief Executive of the FSC reminded the audience in her welcoming address of the recent Award obtained by the FSC as Africa Investor's Most Innovative Capital Market Regulator for 2012. Ms Clairette Ah-Hen congratulated the Stock Exchange of Mauritius Ltd (‘SEM’) for having obtained the Most Innovative African Stock Exchange of the Year Award on this occasion.

She highlighted the importance of exchange of information and spoke on the graduation of Mauritius from appendix B to Appendix A as a Signatory of the IOSCO (‘International Organization of Securities Commissions’) Multilateral Memorandum of Understanding ('MMoU') since May 2012. The Chief Executive explained that the IOSCO MMoU is a document signed by IOSCO Members to facilitate sharing of information when investigating possible securities violations. She further spoke on the issue of liquidity on the Markets and made an appeal for the SEM and the Global Board of Trade to work on this.                                                                                                                               

The workshop was followed by a presentation made by Mr. Max Fulton, the Director of Surveillance; and the Heads of Capital Markets and Investment Funds & Intermediaries. The Director spoke on the aims of financial services regulation and surveillance, the regulatory framework in Mauritius and the structure of the FSC.

The Head of Capital Markets spoke on the types of licensees for capital markets, compliance perspective, surveillance including Risk Based Supervision, the joint cooperation between the FSC and the Bank of Mauritius as well as international standard setting bodies and regional grouping. The Head of Investment Funds & Intermediaries spoke on compliance according to IOSCO Principles in respect of Collective Investment Schemes (‘CIS’) and CIS Managers.

The last part of the workshop focused on future development in respect of the two Exchanges. The CEOs of SEM and GBOT gave an overview of the recent initiatives undertaken with respect to the internationalisation of projects and the diversification of their products range and their proposals for the future.