Mauritius Financial Services Commission

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‘Remove alert about Jean-Claude Bastos de Morais’, writes his London attorney

March 13, 2024
Letter from Peter Baker, a partner with law firm Quinn Emanuel Urquhart & Sullivan UK LLP, of London, England, on behalf of its client, Jean-Claude Bastos de Morais, a Swiss-Angolan businessman, requesting the removal from OffshoreAlert's website of a disqualification notice against Bastos de Morais that was published by the Mauritius Financial Services Commission on August 26th, 2020, falsely claiming that OffshoreAlert had not published the subsequent cancellation of the disqualification, even though we actually published it on October 2nd, 2020 - a mere one day after it was first published by the MFSC, and cross-linking it to the disqualification notice, no less.

SB Global Ltd.: License Suspension

September 20, 2022
Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License and Collective Investment Scheme License of fund manager SB Global Ltd.

Asset Capital Growth Fund Ltd.: License Suspension

September 20, 2022
Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License of Asset Capital Growth Fund Ltd. and its Authorization to operate as a Collective Investment Fund and CIS Expert Fund.

AIP Global Ltd.: License Revocation

May 12, 2022
Public Notice by the Mauritius Financial Services Commission that it has revoked the "Authorised Company" authorization of AIP Global Ltd.

Emerging India Fund Management Ltd.: License Revocation

May 12, 2022
Public Notice by the Mauritius Financial Services Commission that it has "revoked the Global Business Licence and Collective Investment Scheme Manager Licence of Emerging India Fund Management Ltd." for regulatory breaches.

Rosebery Management LLP: License Revocation

November 29, 2021
Public Notice by the Mauritius Financial Services Commission that it has revoked the 'Global Business License' of Rosebery Management LLP "in order to protect the good repute of Mauritius as a centre for financial services".

JP Markets (Mauritius) Ltd.: License Revocation

September 21, 2021
Public Notice by the Mauritius Financial Services Commission that it has revoked the license of JP Markets (Mauritius) Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Mauritius Corporate and Business Registration Department showed that JP Markets (Mauritius) Ltd. was incorporated on February 6th, 2020, that its directors are Justin George Paulsen and Kurt Anton Paulsen, and that it is managed by Toukan Corporate Services Limited. On the group's website at www.jpmarkets.co.za, it is claimed that "JP Markets is a global Forex powerhouse". The site is operated by South African firm JP Markets SA, which, according to records kept by the South African Companies and Intellectual Property Commission, was incorporated in South Africa on March 29th, 2016, went into in liquidation in 2020, and whose only current director is Justin Paulsen, 34, while Kurt Paulsen, 41, is a former director, both of whom are citizens of South Africa.

CYBERservices ASIA: License Revocation

August 4, 2021
Public Notice by the Mauritius Financial Services Commission that it has revoked the Payment Intermediary Services Licence of CYBERservices ASIA for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Mauritius Corporate and Business Registration Department showed that CYBERservices ASIA was incorporated in Mauritius on June 7th, 2012 and its directors are Ritesh Kumar Bissessur and Jacques Wensley Caroopen.

Taysun Corporate Services Ltd.: License Revocation

July 29, 2021
Public Notice by the Mauritius Financial Services Commission that it has revoked "the Management License and the Approval to act as Captive Insurance Agent" of Taysun Corporate Services Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Mauritius Corporate and Business Registration Department showed that Taysun Corporate Services Ltd. was incorporated in Mauritius on February 11th, 2010, its sole director is Sundara Rajen Sooben and its sole shareholder is Álvaro de Oliveira Madaleno Sobrinho, of Angola.

BAO Asset Managers Ltd.: $19K Fine

July 5, 2021
Public Notice by the Mauritius Financial Services Commission that it has imposed a fine of US$19,571 on BAO Asset Managers Ltd. for breaches of "numerous statutory obligations". Editor's Note: Research by OffshoreAlert in the Mauritius Corporate and Business Registration Department showed that BAO Asset Management Ltd. was incorporated in Mauritius on December 15th, 2010, its directors are Shailendr Ramsagur, Achsah Conhyea, and Michael Cargill Southam, and its manager is Rockmills Financials Ltd.

Rosebery Management LLP: License Suspension

July 2, 2021
Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License of Rosebery Management LLP. Editor's Note: A search by OffshoreAlert of the online database maintained by the Mauritius Corporate and Business Registration Department produced no hits for any legal entity with the word 'rosebery' in its name and no entity with that word in its name appears on the "Register of Licensees" on the website of the Mauritius FSC.

Black River Trust Company Ltd.: Liquidation

March 4, 2021
Public Notice by the Mauritius Financial Services Commission that "the Official Receiver, Mr. Vasoodayven Virasami, has been appointed as the liquidator of Black River Trust Company Ltd.". Editor's Note: Research by OffshoreAlert in the Mauritius Corporate and Business Registration Department showed that Black River Trust Company Ltd. was incorporated in Mauritius on October 10th, 2005 and its directors are Michael Robert Charlton, David Perry Gaskell, and Luc Allan Penny Hack.

Worldwide Wealth Management PCC: License Suspension

February 26, 2021
Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License of Worldwide Wealth Management PCC. Editor's Note: Research by OffshoreAlert in the Mauritius Corporate and Business Registration Department showed that Worldwide Wealth Management PCC was incorporated on December 26th, 2014, its directors are Yann Aldric Marie Robbiola and Jonathann Richard Marcel Savigny, and its management company is IQ EQ Corporate Services (Mauritius) Ltd.

Capricorn Finance: License Revocation

January 18, 2021
Public Notice by the Mauritius Financial Services Commission that it has revoked the "Investment Adviser (Restricted) Licence" of Capricorn Finance for regulatory breaches,

Xavier Rault: Disqualification

January 18, 2021
Public Notice by the Mauritius Financial Services Commission that it has disqualified Xavier Rault for regulatory breaches.

Aleksei Korotaev: Disqualification (Mauritius)

December 30, 2020
Public Notice by the Mauritius Financial Services Commission that it has disqualified Aleksei Korotaev, a citizen of Russia, who was described as "the director and ultimate beneficial owner" of Private Kapital Partners Asset Management (Mauritius) Limited, for regulatory breaches.

Arvinsingh Canaye: Disqualification

December 30, 2020
Public Notice by the Mauritius Financial Services Commission that it has disqualified Arvinsingh Canaye, who was described as the "General Manager of Beaufort Management Services Ltd.", for regulatory breaches.

Chan Yew Poa Yat: Disqualification

December 30, 2020
Public Notice by the Mauritius Financial Services Commission that it has disqualified Chan Yew Poa Yat, described as "a director of Beaufort Management Services Ltd.", for regulatory breaches.

Hemavadi Poolay Soondram: Disqualification

December 30, 2020
Public Notice by the Mauritius Financial Services Commission that it has disqualified Hemavadi Poolay Soondram, who was described as a "director of Beaufort Management Services Ltd.", for regulatory breaches.

Sanjay Kumar Mehta: Disqualification

December 30, 2020
Public Notice by the Mauritius Financial Services Commission that it was disqualified Sanjay Kumar Mehta, who was described as a "director of Beaufort Management Services Ltd.", for regulatory breaches.

Aldrex Suppliers Ltd. – Pension & Life Assurance Scheme: License Revocation

December 10, 2020
Public Notice by the Mauritius Financial Services Commission that it has terminated the license of Aldrex Suppliers Ltd - Pension & Life Assurance Scheme, "administered by SWAN Life Ltd.". Editor's Note: Research by OffshoreAlert in the Corporate and Business Registration Department in Mauritius showed that Aldrex Suppliers Ltd. was incorporated in Mauritius on March 18th, 1998, its directors are Bernard Dupont, Louis Joseph Denis Lincoln, Marie Christine Alexandra Lincoln, Gerard Marie Sophie Rambert, and Joseph Desire Tristan Rambert, and that its shareholders are Gerard Rambert and Marie Lincoln.

Century Sharia Fund Ltd. et al: Administrator Appointment

December 9, 2020
Public Notice by the Mauritius Financial Services Commission announcing the appointment of an administrator for Century Global Ltd. and Century Sharia Fund Ltd. Editor's Note: Research by OffshoreAlert in the Corporate and Business Registration Department for Mauritius showed that Century Sharia Fund Ltd. was incorporated on May 19th, 2014, its sole director is Shah Nawaz Abdool Rahim Paraouty, of Mauritius, and its sole shareholder is Century Global Ltd.; Century Global Ltd. was incorporated on April 10th, 2012, its sole director is Shah Nawaz Abdool Rahim Paraouty, of Mauritius, its management company is Bramer Global Services Ltd., and its sole shareholder is Century Banking Corporation Ltd.; and Century Banking Corporation Ltd. was incorporated on May 21st, 2008, its directors are Waleed Qassim Bangash, of Bahrain; Charles Mark Broadley, of Hong Kong; Shakil Ibrahim Moollan, and Rajendra Kumar Ujoodha, both of Mauritius; its secretary is Rawat Muhammad Houmayd Sulleman, of Mauritius, and its shareholder is CBC Capital Limited, whose domicile is not identified.

Jacques McKay: Public Notice

December 9, 2020
Public Notice by the Mauritius Financial Services Commission that it intends to disqualify Jacques Desire Frederick McKay.

Nirvi Management Ltd. et al: Liquidator Change

October 20, 2020
Communiqué by the Mauritius Financial Services Commission that Bhavish Bhooshan Ramdhony has been appointed as the liquidator of Nirvi Management Ltd. and Lotus Fund Ltd., replacing Mohammad Reaz Emambocus.