Clarifications regarding Status of operations at Disaster Recovery (DR) Site of the Broker Dealers and Clearing Members registered with IFSCA

LegalitySimplified

IFSCA on May 09, 2023 has issued following clarifications regarding Status of operations at Disaster Recovery (DR) Site of the Broker Dealers and Clearing Members registered with IFSCA:

  1. Broker Dealers and Clearing Members registered with IFSCA under the IFSCA (Capital Market Intermediaries) Regulations, 2021, are permitted to set up their DR Sites in India.
  2. It is hereby clarified that operations carried out by the Broker Dealers and Clearing Members, from their respective DR sites located outside GIFT-IFSC and within India, shall be deemed to have been carried out at GIFT-IFSC.

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