Intermediary access in IFSCs permits registered intermediaries and associates to provide services without separate companies, subject to approval. SEBI amends IFSC guidelines to allow SEBI-registered intermediaries (except trading/clearing members) or their international associates to provide securities-market financial services in IFSCs without forming a separate company, subject to Board approval, with exceptions for services offered exclusively to institutional investors and for recognized foreign entities. Entities issuing or listing debt in IFSCs must prepare accounts under IFRS/US GAAP/Ind AS or home accounting standards; where not using those standards, a quantitative summary of significant differences from IFRS must be included in disclosure documents.