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Press Release - 20 January 2006

The Jersey Financial Services Commission (the “Commission”) and the Financial Services Commission of Mauritius (the “FSC Mauritius”) have signed a Memorandum of Understanding.

The Memorandum of Understanding establishes a formal framework for mutual assistance and the exchange of information between each regulator to facilitate the enforcement of, and compliance with, the laws of each jurisdiction. Such collaboration should help to protect investors and depositors and to promote the integrity of financial services markets in the two jurisdictions. The Memorandum of Understanding commits both regulators to providing help within the limits of each jurisdictions’ laws, and establishes procedures and liaison points so that requests for information needed for tackling financial regulatory offences can be handled rapidly and efficiently.

David Carse, Director General of the Commission, said:

“I am delighted to sign this Memorandum of Understanding with the Financial Services Commission of Mauritius. It is the latest in a number established between the Commission and other regulators around the world and reflects the Commission’s commitment to cross-border regulatory co-operation.”

Milan Meetarbhan, Chief Executive of the FSC Mauritius, said:

“Mauritius is keen to establish itself as a reputable International Financial Centre and in addition to our wide Double Taxation Treaty network which already provides for extensive exchange of information, we now have a number of agreements on exchange of information with regulators across the world. We are pleased to have an MOU with Jersey Financial Services Commission as this will further enhance the cooperation between our two jurisdictions.”
- Ends -

For further information please contact: -

David Carse, Director General
Jersey Financial Services Commission

Tel: + 44 (0) 1534 822011
Fax:+ 44 (0) 1534 822001
Email: l.johns@jerseyfsc.org

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