The International Financial Services Centres Authority vide its notification dated 30th November 2021 has clarified that the disclosure of dealing in securities by the Directors and Key Management Personnel shall only be applicable with respect to dealings in securities in GIFT-IFSC.
IFSCA had earlier issued an guidelines on the “Code of Conduct and Code of Ethics for the Directors and Key Management Personnel (KMP) of recognized Market Infrastructure Institutions (MIIs) in GIFT-IFSC in which clause 5 (c), clause 9 and clause 10 of the circular pertain to disclosure of dealing in securities by the Directors and Key Management Personnel.
However, through this notification, it has been clarified that the aforementioned clauses will only be applicable with respect to dealings in securities in GIFT-IFSC.
