The International Financial Services Centers Authority vide circular dated December 03, 2021 has declared that a banking unit licensed by the IFSCA shall be permitted to undertake investment banking activities in the IFSC, in accordance with the below framework:
- The banking unit shall intimate to the Authority before commencing operations relating to investment banking, along with fees.
- The banking unit operating as an investment banker shall comply with all the provisions applicable to an investment banker in the IFSC, including obligations and responsibilities prescribed in the CMI Regulations, the requirements prescribed in this circular and such requirements as may be specified by the Authority from time to time.
- The banking unit shall maintain arm’s length relationship between its investment banking activity and other activities.
