International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2021
On 18th October 2021, the International Financial Services Centres Authority (IFSCA) issued Notification No. IFSCA/2021-22/GN/REG018, titled “International Financial Services Centers Authority (Capital Market Intermediaries) Regulations, 2021.
IFSCA Capital Market Intermediaries Regulations, 2021 states the registration process and requirements for various intermediaries, their general and specific obligations and responsibilities, cross-border business provisions, and inspection requirements. These provisions are aimed at intermediaries, including broker–dealers, clearing members, depository participants, Investment bankers, investment advisers, and others.
These regulations also incorporated cross–border business provisions applicable to registered capital market intermediaries incorporated in an IFSC. It is mentioned that the companies should compile and submit a report as per the regulations specified in this Chapter and the regulatory requirements specified by the Authority within 90 days of the end of each fiscal year. These regulations aim to make functioning capital markets in an IFSC systematic, seamless, and efficient.
