The International Financial Services Centres Authority (IFSCA) on March 23, 2022 has issued The International Financial Services Centres Authority (Performance Review Committee) Regulations, 2022. The performance review committee constituted under the regulations shall deal with complaints against IFSCA. All complaints received by the Committee shall be registered and assigned a number, as per the procedure determined by the Committee. The Committee may seek requisite information or confirmation, as may be considered necessary, from the complainant for examining the complaint and shall submit report with its findings to the Authority.
The Authority after examining the complaint and the report, if satisfied that no prima-facie case is made out, may dismiss the complaint under intimation to the complainant and the Committee. In case the Authority is of the view that prima-facie the complaint has some merit, it may forward the same to the authority concerned, for appropriate action in accordance with the applicable laws.
