Regulatory relaxation permits tailored enforcement where IFSC financial-market development justifies it, subject to applications, fees and recorded reasons. The Authority may relax strict enforcement of KYC Registration Agency requirements to support development of the IFSC financial services market, provided ... Summary
Regulatory relaxation permits tailored enforcement where IFSC financial-market development justifies it, subject to applications, fees and recorded reasons.
The Authority may relax strict enforcement of KYC Registration Agency requirements to support development of the IFSC financial services market, provided written reasons are recorded. Applicants must provide details and grounds for relaxation and pay the prescribed non-refundable fee. Complete applications, including responses to clarifications, must be processed within thirty days, with reasons recorded for acceptance or refusal.
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