International Financial Services Centers Authority (Authority) on 31st May, 2023 has specified that the reporting norms for Fund Management Entities (FMEs) in IFSCs shall be as under:
- Submission of information to authorities in the prescribed format on half yearly basis (https://ifsca.gov.in/Downloadfile/Index).
- Report shall include quantitative information about fund management and a signed copy of ‘compliance report’ as a scanned pdf.
- First report under this circular shall be submitted by June 21, 2023 the subsequent reports for each half-year period shall be submitted within 21 calendar days from the end of the half-year.
- The reports shall be submitted to the Authority by way of an email.
- The Authority will continue to monitor the fund management industry in IFSC and may supplement/update the reporting formats.