Registration of capital market intermediaries: new IFSC rules mandate eligibility, net worth, conduct and supervisory compliance. These regulations create a comprehensive IFSC framework requiring registration of specified capital market intermediaries, prescribe applicant eligibility including net worth and fit and proper criteria, mandate qualification and experience norms for principal and compliance officers, set ongoing obligations (records retention, codes of conduct, audits, business continuity, cyber security and risk management), enumerate category specific duties for intermediaries including disclosure and conflict management, and empower the Authority with inspection and enforcement tools along with transitional and repeal provisions.
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Registration of capital market intermediaries: new IFSC rules mandate eligibility, net worth, conduct and supervisory compliance.
These regulations create a comprehensive IFSC framework requiring registration of specified capital market intermediaries, prescribe applicant eligibility including net worth and fit and proper criteria, mandate qualification and experience norms for principal and compliance officers, set ongoing obligations (records retention, codes of conduct, audits, business continuity, cyber security and risk management), enumerate category specific duties for intermediaries including disclosure and conflict management, and empower the Authority with inspection and enforcement tools along with transitional and repeal provisions.
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