IFSCA issues List of Public Holidays and banking business hours for IBUs
IFSCA has issued List of Public Holidays and banking business hours for IBUs. It is clarified that IBUs shall observe Public Holiday on second and fourth Saturdays of every month. The banking business hours of IBUs shall be from 9:45 a.m. to 5:30 p.m. during working weekdays and working Saturdays.
SEBI SMART 2025
A Symposium on India’s Securities Market Tech Stack was organized in Mumbai by SEBI along with market participants which showcased India’s tech journey in the Securities Market. Regulators, market participants from across the world participated in the Symposium.
Consultation paper on certain amendments to SEBI LODR Regulations, 2015
SEBI has issued Consultation paper on certain amendments to SEBI LODR Regulations, 2015 with the objective of encouraging dematerialization of securities and streamlining certain processes in view of current regulatory landscape.
Extension of timeline for implementation of the Circular titled “Complaint Handling and Grievance Redressal by Regulated Entities in the IFSC”
It has been decided that the said Circular shall now come into force with effect from April 01, 2025. The Regulated Entities are therefore directed to ensure the implementation of the Circular w.e.f. April 01, 2025, without fail.
IFSCA cautions the public on phishing attempts impersonating IFSCA employees
The rise in phishing attempts impersonating IFSCA employees serves as a timely reminder of the importance of cybersecurity vigilance. Whether you are an individual, a regulated entity, or part of the broader financial services community, staying informed and adopting robust security practices is critical. The IFSCA’s proactive approach in cautioning the public reinforces its commitment to safeguarding the integrity of the financial ecosystem within the IFSCs.
IFSCA Consultation Paper on SPV Framework for Co-Investment and Leverage Transactions
This initiative aims to streamline co-investment and leverage transactions within International Financial Services Centres (IFSCs). By operationalizing the SPV model, the IFSCA seeks to bolster alternative investment avenues, enhance transparency, and foster ease of doing business in the region.
SEBI Consultation paper on proposal to increase the size criteria (set to guard against potential circumvention of Press Note 3 stipulations) in the additional disclosure framework
The Securities and Exchange Board of India (SEBI) has released a consultation paper proposing an increase in the size criteria under the additional disclosure framework for Foreign Portfolio Investors (FPIs) and Offshore Derivative Instrument (ODI) subscribers. This move aims to address concerns about potential circumvention of Press Note 3 (PN 3) stipulations and adapt to the rapidly growing Indian securities market.
SEBI Circular on Revise and Revamp Nomination Facilities in the Indian Securities Market
On January 10, 2025, SEBI released a circular detailing a revised and revamped framework for nomination facilities in demat accounts and mutual fund (MF) folios. This update addresses critical gaps, aims to prevent unclaimed assets, and provides a streamlined process for asset transmission.
SEBI revises Procedure for seeking waiver or reduction of interest in respect of recovery proceedings initiated for failure to pay penalty
SEBI has delegated the power to waive or reduce the interest levied only in respect of recovery proceedings initiated for failure to pay penalty, to the Competent Authority
Framework for Special Purpose Vehicle (SPV) for Co-Investment and Leverage Transactions
The International Financial Services Centres Authority (IFSCA) has introduced a consultation paper to operationalize a structured framework for Special Purpose Vehicles (SPVs) under the IFSCA (Fund Management) Regulations, 2022. This initiative aims to enhance the ease of doing business and foster the growth of the alternative investment industry within International Financial Services Centres (IFSCs).
