In line with the objective of positioning Mauritius as a reputable FinTech hub, the Ministry of Finance announced a proposed legislation for the establishment of “a regime for Robotics and Artificial Intelligence Enabled Financial Advisory Services.”

Taking the cue in October 2020, the Financial Services Commission (the “FSC”) issued a consultation paper (the “Consultation Paper”) seeking views on the proposal to introduce a regulatory framework for services providers of Robotic and Artificial Intelligence Enabled Advisory Services.

Finally, in June 2021, the FSC issued the Financial Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021 (the “Rules”) to govern this innovative area of the financial services sector.

In this paper, we attempt to provide a brief summary of the Rules, by addressing its basis, the key points which it has laid out, and our analysis of these changes.