Quick Summary
The IFSCA Authority (Authority) met on March 15, 2021 andinter aliatook the following decisions: 1. IFSCA (Market Infrastructure Institutions) Regulations, 2021 (MII Regulations) The market infrastructure institutions (MIIs) viz. stock exchanges, clearing corporations and depositories are of c
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FAQ :
The Authority approved the IFSCA (Market Infrastructure Institutions) Regulations, 2021, the International Financial Services Centres Authority (Finance Company), Regulations, 2021, and the International Financial Services Centres Authority (Banking) (Amendment), Regulations, 2021.
The MII Regulations aim to provide more flexibility in shareholding, prescribe enhanced governance norms, ensure adequate risk management, and align with global standards for stability and continuity of MIIs in IFSC.
Banking units operating in IFSC can now offer portfolio management services and investment advisory services.
Non-bank entities, both Indian and foreign, from FATF-compliant jurisdictions can set up units to undertake a wide range of financial services activities.
The Authority approved the fee structure for Market Infrastructure Institutions (MIIs), Market Intermediaries, and Investment Banking Units (IBUs) operating in GIFT IFSC.
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