IFSCA has issued a circular titled “Complaint Handling and Grievance Redressal by Regulated Entities in the IFSC” on December 02, 2024, mandating the Regulated Entities to align their complaint handling procedures with the norms and requirements specified in the Circular, w.e.f. January 15, 2025.
IFSCA has received representations from Regulated Entities requesting an extension of the timeline, citing operational challenges related to the implementation of the Circular within the specified time frame. After careful review, it has been decided to extend the timeline for implementation of the Circular, as requested.
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.
