On May 08, 2025, the International Financial Services Centres Authority (“IFSCA”) issued a Consultation Paper inviting public and stakeholder feedback on the proposed revamped regulatory framework for Global Access in the International Financial Services Centre (“Proposed Revamped Framework”). IFSCA has called for comments and suggestions from stakeholders and the public on the Proposed Revamped Framework provided in Annexure A of the said circular[1] latest by May 19, 2025.
The Proposed Revamped Framework aims to bolster IFSCA’s role as a global capital markets gateway by facilitating seamless cross-border trading and investment. It seeks to enable investors to access international financial markets efficiently through a transparent and well-regulated ecosystem.
Key Proposals of the Proposed Revamped Framework include Registration of Global Access Providers, Operational Framework and Modalities for Global Access, Client Disclosures and Transparency Requirements, Know Your Customer (KYC), Anti-Money Laundering (AML), and Combating the Financing of Terrorism (CFT) Norms, among others.
[1]https://ifsca.gov.in/Viewer?Path=Document%2FReportandPublication%2Fconsultation-paper-on-draft-revamped-regulatory-framework-for-global-access-in-the-ifsc08052025125426.pdf&Title=Consultation%20Paper%20on%20draft%20Revamped%20Regulatory%20Framework%20for%20Global%20Access%20in%20the%20IFSC&Date=08%2F05%2F2025