IFSCA Circular on Late Payment of Fees
The International Financial Services Centres Authority (IFSCA) has recently released an important circular regarding the interest charged on late payments of fees for entities undertaking permissible activities within the International Financial Services Centres (IFSC). The circular, issued on February 26, 2025, brings clarity to the fee structure and introduces a revised interest rate for late payments, which will come into effect starting March 1, 2025.
Industry standards for SEBI listing
The industry associations which are part of ISF (ASSOCHAM, FICCI and CII) and the stock exchanges shall publish the industry standards note on their websites.
SEBI directions to associations: opening of demat accounts
SEBI has issued a circular on February 25, 2025 that focuses on the facilitation of demat accounts for AoPs to hold securities such as mutual funds, corporate bonds, and government securities in dematerialized form. The decision comes after SEBI received numerous representations requesting the option for AoPs to directly open demat accounts in their name.
UTI Income Plus Arbitrage Active Fund of Fund: A Comprehensive Overview
The UTI Income Plus Arbitrage Active Fund of Fund is designed to offer investors an optimal mix of debt-oriented schemes and arbitrage opportunities. As an actively managed fund, it aims to capitalize on the potential of both the debt and equity markets, offering a diversified investment approach.
Appointment of KMP: new process for fund management entities
The International Financial Services Centres Authority (IFSCA) issued a circular to all Fund Management Entities (FMEs) operating within IFSCs, regarding the appointment and changes to Key Managerial Personnel (KMPs). This regulatory directive clarifies the procedure and responsibilities FMEs must follow to ensure compliance with the newly outlined regulations concerning KMP appointments. This move aims to strengthen governance and operational efficiency within fund management entities registered in the IFSCs.
Good news for investors: Stock Brokers to make better grievance redressal measures
In order to ensure transparency in the Investor Grievance Redressal Mechanism, all the Stock Brokers shall continue to disclose on their respective websites, the data on complaints received against them or against issues dealt by them and redressal thereof, latest by 7th of succeeding month.
SEBI proposals for investment in angel funds
The key proposal in the consultation paper was to mandate that Angel Funds shall on board and offer investment opportunities only to Accredited Investors, so as to ensure that only investors with commensurate risk appetite, invest in Angel Funds. Other flexibilities proposed in the first consultation paper were envisaged based on strength and regulatory comfort of allowing only AIs to invest in Angel Funds. The comments / suggestions shall be submitted on or before March 14, 2025, via online web based form.
SEBI clarification regarding Investor Education and Awareness Initiatives
SEBI has directed AMCs to annually set apart atleast 2 basis point on daily net assets within the maximum limit of total expense ratio for investor education and awareness initiatives. In this regard, it is clarified that initiatives under Investor Education and Awareness include financial inclusion initiatives as may be approved by SEBI from time to time.
SEBI Guidelines for Follow-on offer by Real Estate Investment Trusts
The comments and suggestions along with rationale should be submitted latest by March 13, 2025.
SNRR accounts of IFSC units: new process to fund financial services
It is clarified that all units in an IFSC shall ensure transacting or receiving the monetary consideration relating to delivery of a financial service (i.e. funds/fees/amount) only through an account maintained with a Banking Unit in IFSC.
