International Financial Services Centers Authority (Fund Management) Regulations, 2022
On 19th April 2022, the International Financial Services Centres Authority (IFSCA) issued Notification No. IFSCA/2021-22/GN/REG024, titled “International Financial Services Centres Authority (Fund Management) Regulations, 2022” (IFSCA – Fund Management Regulations 2022).
The IFSCA Fund Management Regulations, 2022 include the registration requirements and grant schemes for a Fund Management Entity (FME) as per IFSCA. The document elaborates on the obligations and eligibility criteria for various categories of FMEs. These regulations also include schemes for Fund Management businesses, including Venture Capital Schemes, Restricted Schemes, Retail Schemes, and Special Situation Funds. Regulations regarding Exchange–Traded Funds (ETFs), and Environmental, Social and Governance (ESG) are also covered.
These regulations also detail permitted activities for FMEs, like Portfolio Management Services (PMS) Investment Trust and Family Investment Funds. The document also states the listing regulations for open-ended schemes, close-ended schemes, ETFs, and Investment Funds for FMEs, along with their delisting. General obligations and regulations, inspection and audit regulations, liabilities, and power regarding additional requirements in the document provide a holistic insight into the FME regulations.
