International Financial Services Centre rules expand acceptable foreign identity documents and relax record retention obligations for foreign-national clients. Amendments permit reporting entities located in an International Financial Services Centre to treat the head of the entity as a specified person, accept foreign national identity or voter cards and foreign bank statements as valid documents, and exempt IFSC-based entities from record reception, storage, safeguarding and retrieval obligations for clients who are foreign nationals.
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Provisions expressly mentioned in the judgment/order text.
International Financial Services Centre rules expand acceptable foreign identity documents and relax record retention obligations for foreign-national clients.
Amendments permit reporting entities located in an International Financial Services Centre to treat the head of the entity as a specified person, accept foreign national identity or voter cards and foreign bank statements as valid documents, and exempt IFSC-based entities from record reception, storage, safeguarding and retrieval obligations for clients who are foreign nationals.
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