IFSCA informed on various guidelines, circular/directions applicable for undertaking non-core activities by an FC/FU

May 05, 2021 | by Avantis RegTech Legal Research Team

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Industry Specific Compliance

The International Financial Services Centres Authority (IFSCA) on May 3, 2021 has issued the information on various guidelines/circular/directions applicable for undertaking non-core activities by an FC/FU. 

All FC/FU registered with the Authority intending to undertake the following non-core activities shall be in compliance with the following as amended from time to time are as follows: -

• Authorized person 

• Trusteeship Services

• Investment Advisory services

• Portfolio Management Services 

• Distribution of Mutual Fund Units 

• Distribution of Insurance Products 

• Function as trading and clearing members or professional clearing member of exchanges and clearingcorporations set up in IFSC

• Transactions permitted under the Framework for Aircraft operating Lease, as specified by the authority

• Asset Management support services permitted under the Framework for Enabling Ancillary by the Authority

[Notification No- 172/ IFSCA/Finance Company/Unit Regulations/2021-22/5]

 


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