On 28 January 2021, the data privacy communities of the world celebrated the Data Protection Day which is an international effort to create awareness about the importance of respecting privacy, safeguarding data and enabling trust.
Our intellectual property and technology lawyers provide a full range of commercial, intellectual property law, privacy, sourcing and technology law services for leading businesses in Africa.
Intellectual property and technology law is at the core of any major business transaction or strategic dispute and has become one of the most critical legal areas as companies continue to expand and protect their technologies, brands, products, data and services around the globe.
We provide both litigation-related and strategic commercial advice to a wide range of industry sectors, helping clients achieve their objectives wherever they do business.
Experience has included advising:
- IBL, the biggest conglomerate in Mauritius, on data privacy matters as well as conducting training for its staff.
- Omnicane Group in conducting a data privacy compliance exercise.
- Harel Mallac Group in training staff on matters of data privacy.
- Manchester United on trademark issues in Mauritius.
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.
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.
New data protection regulations
The Financial Services Commission (“FSC”), the integrated regulator for non-banking financial services and global business sectors, which is highly supportive of Fintech-related initiatives, issued on 15 June 2020, pursuant to section 7(1)(a) of the Financial Services Act 2007, guidance notes on a common set of standards for Security Token Offerings and the licensing of Security Token Trading Systems.