The Financial Services Commission of Mauritius (FSC) had issued an Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) Handbook on 13 January 2020.
Arvin Halkhoree is passionate about emerging technologies including blockchain and finTech, Technology, Media and Telecommunications (TMT), corporate and commercial law, aviation and project finance, as well as business strategy.
Arvin advises on technology solutions and is at the forefront of emerging technologies. Currently, he is particularly focusing on the use of blockchain technology and Securities Token Offerings (STOs). He has significant experience in applying the law to the issues raised by new technologies.
Besides advisory and transactional work, Arvin has considerable experience in contentious matters covering all forms of dispute resolution, and in particular litigation in the civil and commercial courts.
Arvin’s aviation practice involves advisory work in relation to sale and leaseback transactions, aircraft repossessions, aircraft structured finance and civil aviation regulatory matters.
Arvin’s clients include major banks, airlines, FMCG companies, IT service providers, various name brand and multinational companies, and startups.
Arvin is a registered trainer with the Mauritius Qualifications Authority and delivers regular trainings in areas like tax, finTech, and banking law, both in public workshops and tailored-made seminars for specific client needs. Arvin speaks regularly at conferences, both locally and internationally.
Experience has included advising:
- A startup on the legal and regulatory framework for digital assets custodian and securities token offerings
- On the setting up of a primary security token issuance platform in Mauritius with an investment dealer license to tokenize shares in Mauritian incorporated companies and to further provide for a blockchain based real-time security token exchange platform for the trade of those tokens in an innovative investment environment
- A US-based company focusing on the delivery of technology using a decentralized cloud network on the legal and regulatory framework applicable to its prepaid tokenized vouchers sold via a simple agreement for future tokens (SAFT) or a public utility token sale
- A Kenyan pioneer in the use of mobile technology for small-scale agriculture to improve the lives of rural communities through mobile innovation and artificial intelligence, in relation to matters of corporate and regulatory laws for its first round of seed investment
- Airbus on local data protection and privacy laws in relation to rolling out of www.iflya380.com to Mauritian customers
- IOX Cables on the legal and regulatory aspects of laying submarine cables connecting Mauritius and Rodrigues to India and Africa with particular focus on the construction of cable landing stations in Mauritius and Rodrigues and the application for an International Long Distance (ILD) license
- A Mauritian-based SPV on its shareholders agreement and share subscription agreement in connection with the development of a geothermal plant in Kenya of up to 140 MW anticipated geothermal resource potential
- An Irish aircraft lessor on the sale and finance leaseback of seven (7) Bombardier Dash 8 Series aircraft for sublease to a Kenyan aircraft operator involved in humanitarian air transportation in Africa, with particular emphasis on the security package which included a pledge over bank account
- Credit Agricole Corporate and Investment Bank in relation to renewal of aircraft mortgages, discharge of aircraft mortgages and deregistration of aircrafts from the aircraft register
- Consortium Suzlon-Padgreen on the financing, construction and operation of a 29.4 MW wind farm together with a site pooling station and transmission lines in Mauritius
- Renewable Energy Performance Platform on a financing through convertible promissory notes to Virunga Power Holdings Limited, a Mauritius incorporated company which is in the business of developing and operating renewable energy generation and local distribution assets in the region of East Africa
- Barrister-at-Law admitted to the Bar of Mauritius (2008)
- University of Mauritius, (distinction) with specialization in Financial Services, (2014)
- University of London, Queen Mary, LLM with Specialisation in Computer and Communications Law (2005)
- Council of Legal Education, Vocational Course for Barristers (2005)
- University of Mauritius, LLB with First Class Honours (2004)
- Ranked 1st at the Council of Legal Education, Vocational Exams for Barristers (2005)
- Commonwealth Scholar in the UK (2005-2006)
- 2010 to 2014, Managing Director, an offshore management company / corporate service provider
- 2008 to 2010, private practice
- Mauritius Bar Association
- Commonwealth Scholarship Commission (UK) Alumni
The Financial Services Commission (FSC) has issued a Consultation Paper in relation to the introduction of a regulatory framework for Robotic and Artificial Intelligence Enabled Advisory Services (hereinafter RAIEAS). RAIEAS was coined in the National Budget of 2019/2020 and the Finance (Miscellaneous Provisions) Act 2020 added RAIEAS as a financial business activity in Schedule 2 of the Financial Services Act requiring a licence from the FSC. The aim of the Consultation Paper, which is inspired from approaches and models implemented by other jurisdictions, is to invite views and comments from relevant professionals, the industry and the public at large.
The Financial Services Commission (FSC) has on 6 November 2020, by way of a Circular Letter referenced as CL061120 repealed the March 2012 Code on the Prevention of Money Laundering & Terrorist Financing until the issuance of any additional enforceable Anti Money Laundering / Combatting Terrorist Financing (AML/CFT) requirements.
P2P lending has, worldwide, been hailed as an innovative solution that democratises financing. Start-ups and small entrepreneurs have typically relied on bank finance to grow. But they present risks that banks are not always prepared to take — at least not cheaply. Online platforms that connect borrowers directly with investors bypass the problem of getting bank financing.
The Court of Civil Appeal of the Supreme Court of Mauritius has recently opined in the case of Essar Steel Ltd v Arcelormittal USA LLC [2020 SCJ 191] that the directors of a company, which has been placed in administration retain no residual power to initiate proceedings on behalf of the company.