IFSCA directions on Contribution to Settlement Guarantee Fund
IFSCA has clarified that the contribution of a Clearing Corporation to its Settlement Guarantee Fund shall be considered as part of its net worth. Additionally, the interest on cash contribution to the SGF shall also accrue to the SGF and pro-rata be attributed to the contributors in proportion to their contribution.
Operating oil field to be a financial product – IFSCA proposal
The comments may be sent by email to Mr. Sri Vishnucharan, Assistant Manager, at financecomp-queries@ifsca.gov.in with a copy to Ms. Riddhi Bhandari, General Manager at riddhi.bhandari@ifsca.gov.in with the subject line “Comments on the draft notification to enable operating lease including any hybrid of operating and financial lease of Oil Field Equipment in IFSC ‘, latest by March 28, 2025.
GIFT City to promote India’s aviation sector
The Union Ministry of Civil Aviation jointly with Federation of Indian Chambers of Commerce & Industry (FICCI) with the support of the International Financial Services Centre Authority (IFSCA), organised the second “India Aircraft Leasing and Financing Summit” at Gandhinagar in Gujarat.
SEBI proposals: Minimum subscription size at Social Stock Exchanges
The Social Stock Exchange Advisory Committee (SSEAC) and SEBI had organized a special outreach session for NPOs and Donors to help increase further interest in the SSE platform.
MCA announces new location of Kolkatta ROC office
MCA has announced shifting of following offices involving IT asset movement, Server Room setup, Cable testing, end to end setup etc on nomination/ single source basis in compliance of Rule 194 of GFR, 2017.
Second Edition of IFSCA Chintan Shivir
The discussions emphasised the design, development, and establishment of a robust regulatory ecosystem in GIFT IFSC, aligned with this vision.
International conference on PLI Schemes
In the inaugural session, CTIL launched its monthly investment law newsletter, ‘Investment Law Compass: Navigating through the Global Investment Framework’ which aims to highlight the developments in the investment law landscape and transform it into an accessible and insightful journey for enthusiasts and professionals alike. The newsletter will be available online at www.ctil.org.in.
Financial Action Task Force (FATF) High risk and other monitored jurisdictions
In this latest update, FATF has highlighted both “high-risk jurisdictions subject to a Call for Action” and “jurisdictions under increased monitoring” based on their continued efforts or lack thereof in addressing AML/CFT deficiencies. These classifications are essential for FATF’s global work in promoting financial integrity and ensuring the safety of international financial systems. FATF has urged its members and other countries to remain attentive to the guidance issued in its February 2020 and October 2022 statements and to adhere to its continued calls for action.
SEBI Relaxation in timeline for reporting of differential rights issued by AIFs
A one time reporting requirement has been mandated for AIFs/schemes of AIFs whose PPMs were filed with SEBI on or after March 01, 2020, and have issued differential right(s) which do not fall under the implementation standards formulated by Standard Setting Forum for AIFs. Such information
was to be submitted to SEBI in the prescribed format, on or before February 28, 2025. Based on representation received from the AIF industry requesting additional time to meet the reporting requirement, it has been decided to extend the timeline to March 31, 2025, for ease of compliance.
When Spain Gives You Oranges: India Imposes Conditions of Import
The amendment removes specific import conditions previously applied to all citrus fruits (lemon, lime, orange, grapefruit, mandarins, etc.) from Spain, specifically regarding the Mediterranean fruit fly (Ceratitis capitata). This removes the previous options of specific cold treatments or methyl bromide fumigation for all citrus and specifically imposes them only on oranges.
