Ensuring efficient market conduct supervision has been at the forefront of the Bank of Mauritius agenda

On 22-23 November 2023, FinCoNet (the International Financial Consumer Protection Organisation) held its Annual General Meeting (AGM), hosted by Bank of Mauritius. The AGM also marked the 10th anniversary of the formal establishment of FinCoNet as an international network of market conduct supervisors.

Representatives from nearly 50 jurisdictions around the world, as well as international organisations, participated in the AGM in-person or virtually. The meeting was held back-to-back with an International Seminar on Market Conduct Supervision in Challenging Times on 24 November 2023 coorganised by FinCoNet and the Bank of Mauritius.

In his welcome address to attendees to open the AGM, Harvesh Kumar Seegolam, Governor of the Bank of Mauritius said: “Over the recent years, ensuring efficient market conduct supervision has been at the forefront of the Bank of Mauritius’ agenda. In the light of the Covid-19 pandemic and rapid digitalisation of the Mauritian financial ecosystem, providing greater protection to the Mauritian consumers is key to deliver on the central bank’s financial stability mandate.”

The AGM was chaired by the new Chair of FinCoNet, Ms. Juliana Sandri, Head of the Department of Conduct Supervision at the Banco Central do Brasil. Ms. Sandri was elected Chair of FinCoNet on the first day of the AGM, after previously serving as Vice-Chair and Acting Chair of the organisation. Upon her election as Chair, Ms. Sandri said:

“It is an honour and privilege to be appointed Chair of FinCoNet on its 10th anniversary. Looking back, I realise how much has been built. I appreciate the efforts of all members and former chairs who have contributed to address so many challenges in market conduct supervision. I am confident that to overcome the challenges of the next ten years, we will find the same energy, effort and dedication among our current and future members.”

At the AGM, FinCoNet Members also appointed Mr. Yuji Yamashita of the Japan Financial Services Agency as its new Vice Chair and Mr. Frank Kajungu of National Bank of Rwanda as its Treasurer.