International Financial Services Centres Authority (“IFSCA”) in exercise of powers conferred under Section 28(1) read with Section 12(1) and Section 13(1) of the International Financial Services Centres Authority Act, 2019, Section 30 read with Section 28(C) of the Securities and Exchange Board of India Act, 1992, and Section 25 read with Section 23(G) of the Depositories Act, 1996, vide Notification No. F. No. IFSCA/GN/2025/003,[1] dated April 11, 2025, issued the International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2025 (“CM Regulations”)
Following the issuance of a consultation paper on the draft International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, IFSCA received numerous public comments, suggestions, and feedback. A compilation of these responses has also been made available on the IFSCA official website. Taking into account the inputs received, the IFSCA has now notified the final CM Regulations.
These CM Regulations aim to establish the regulatory framework for the registration, regulation, and supervision of capital market intermediaries operating within International Financial Services Centres (IFSCs) in India, with the aim of safeguarding investor interests and upholding the integrity of the securities market.
The CM Regulations can be accessed at https://ifsca.gov.in/Viewer?Path=Document%2FLegal%2Fifsca-cmi-regulations-202517042025051646.pdf&Title=IFSCA%20%28Capital%20Market%20Intermediaries%29%20Regulations%2C%202025&Date=17%2F04%2F2025
[1]https://ifsca.gov.in/Viewer?Path=Document%2FLegal%2Fifsca-cmi-regulations-202517042025051646.pdf&Title=IFSCA%20%28Capital%20Market%20Intermediaries%29%20Regulations%2C%202025&Date=17%2F04%2F2025