Mauritius FSC Appoints Harvesh Seegolam as New Head

The Financial Services Commission (FSC) in Mauritius, the island-nation’s financial watchdog, announced today the appointment of Harvesh Kumar Seegolam as its new Chief Executive in an official statement.

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Mr. Seegolam will join the commission with immediate effect from his most recent role as senior investment advisor at Board of Investment, where he has been at the forefront of delivering the high profile reform of financial services Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term.

Mr Seegolam served previously as the CEO of the Financial Services Promotion Agency (FSPA). Before that, Harvesh was Director of the Innovation, Technology & Services cluster at the Board of Investment (BOI), the Investment Promotion Agency of Mauritius.

He has successfully advised a number of global players on setting up operations in Mauritius in the fields of banking, private equity, investment funds, legal services and wealth management, manufacturing and ICT, amongst others.

Harvesh holds a BSc in Economics and an MSc in International Finance, in addition to several other qualifications in accountancy and finance. He is an alumni of the London School of Economics & Political Science, the University College London and Durham University, as well as the SKEMA ‘Grande Ecole de Commerce’ in France.

Mr Seegolam leads the regulator during a crucial time where he will be required to make contribution to the ability of the FSC to meet the ever increasing demands of both the financial sector and international regulatory requirements.

Mauritius was for a long time a preferred destination for those interested in operating an offshore Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term broker due to the softer financial requirements, which make it a better option than many European jurisdictions.‎

‎The benefits list includes limited setup costs, low capital requirements of about €17,000, and ‎a favorable tax regime. But recently it has become increasingly difficult to apply for and obtain a forex licence in Mauritius, to the point that most providers have changed their destination to Belize, despite the higher capital requirements and the more expensive fee structure.‎