On May 30, 2025, the International Financial Services Centres Authority (“IFSCA”) released a Revised Consultation Paper dated May 08, 2025, proposing significant amendments to its earlier framework regarding Global Access in the International Financial Services Centre (“IFSC”). IFSCA invites comments and suggestions from the stakeholders on this draft revamped regulatory framework latest by June 09, 2025. (“Revamped Framework”)[1]
I. Objectives for the issuance of the Revamped Framework:
- To enhance the regulatory environment to better facilitate cross-border dealings in securities and other permitted financial products via broker-dealers and intermediaries operating in the IFSC.
- To provide a clear regulatory path for entities currently offering access to global markets from within India (in an unregulated environment) to transition into a regulated ecosystem within the IFSC.
- To protect the interests of Indian retail investors, particularly those investing under the Liberalised Remittance Scheme (LRS).
II. Revamped Framework: The updated and revised draft regulatory framework for Global Access has now been provided in Annexure A of the Revised Consultation Paper. IFSCA is inviting further public and stakeholder comments on this revised draft.
[1]https://ifsca.gov.in/Viewer?Path=Document%2FReportandPublication%2Frevised-consultation-paper-on-draft-revamped-regulatory-framework-for-global-access-in-the-ifsc30052025073151.pdf&Title=Revised%20Consultation%20Paper%20on%20draft%20Revamped%20Regulatory%20Framework%20for%20Global%20Access%20in%20the%20IFSC&Date=30%2F05%2F2025