Rules & Regulations

Click here to download the Listing Rules in Word format

1. Stock Exchange (Conduct of trading operations by dealer's authorised clerks) Rules 1992
2. Stock Exchange (Investment Clubs) Rules 1994 (GN 83/1994)
3. Stock Exchange (Communication with the public) Rules 1993
4. Stock Exchange (Dealer's representatives' examinations) Regulations (GN 76/1992)
5. Stock Exchange (Debt Securities Listing) Rules 1992
6. Stock Exchange (Stockbrokers Examinations) Regulstions 1993 (GN 95/1993)
7. Brokerage Fee For Debentures
8. Stock Exchange (Licensing) Regulations (GN 60/1989)
9. Stock Exchange (Investment by foreign investors) Rules 1994
10. Stock Exchange (Operation of the Over-The-Counter Market) Rules
11. Stock Exchange (Register of Interests in Securities) Rules (GN 155/1989)
12. Listing Committee Regulations
13. Stock Exchange (Brokerage) Regulations 1989 (GN 119/1989)
14. Stock Exchange (OTC) Regulations (GN 53/1990)
15. Approved Investment Institution Rule

Regulation

The Stock Exchange of Mauritius (SEM) is supervised and regulated by the Financial Services Commission (FSC) under the Stock Exchange Act 1988. The Act constitutes the legal framework for the operations of the stock market.

The SEM has statutory authority to adopt rules governing the conduct of its members and listed companies and to enforce these regulations. All the rules and regulations of the SEM are subject to prior approval by the FSC.

The SEM is expected to review the present legislation so as to reflect the standards observable in sophisticated stockmarket and to ensure that the new legislation be in line with the harmonisation process which is underway in the Southern African Development Community (SADC). It is expected that the harmonisation of the Listing Rules in the SADC region will pave the way to cross-listing and cross-border activities.

In this context, a reform of the listing function of the SEM has recently taken place, whereby the Stock Exchange assumes responsibilities for front-line regulation of the listing function of the Exchange's activities and a new listing rules.

Another structural reform which has been completed is the opening up of the Exchange. The opening up of the Exchange has promoted greater transparency in the conduct of business, and in the ownership and membership of the Exchange.

The SEM is also working on a Code of Conduct of Business and capital adequacy of stockbroking companies. The SEM is also currently reviewing the regulatory framework of the Over-The-Counter (OTC) Market.