International Financial Services Centres Authority (“IFSCA”), in exercise of powers conferred by Section 12 and Section 13 of the International Financial Services Centres Authority Act, 2019 (“IFSCA Act”) read with Regulation 120 of the IFSCA (Fund Management) Regulations, 2025 (“FM Regulations”), vide Circular No. F. No. IFSCA-IF-10SUP/1/2024-Capital Markets,[1] dated April 03, 2025 (“Circular”), revised the reporting formats for the Fund Management Entities (“FMEs”) in the International Financial Services Centre (“IFSC”). The Circular shall come into effect immediately.
The key highlights of the Circular are as follows:
I. Change in Reporting Frequency: Initially, as per the IFSCA Circular dated May 31, 2023, the reporting frequency for FMEs had been set at half-yearly. The same was subsequently revised to quarterly reporting in the amended Circular dated November 03, 2023.
II. Revisions in Reporting Formats: As part of ongoing enhancements, a review of the reporting formats was conducted to:
- Capture more detailed information, particularly concerning Retail Schemes.
- Obtain granular data for effective supervision.
- Restructure certain tables for greater clarity and ease of use.
- Include guidance notes where necessary to assist FMEs in adhering to reporting standards.
- Align the formats with the recently notified FM Regulations.
III. Access to Updated Reporting Formats: The updated reporting formats are now available for download on the IFSCA website. FMEs are advised to access the latest formats from the “Downloads” section on the IFSCA website.
[1] https://ifsca.gov.in/Viewer?Path=Document%2FLegal%2Frevision-in-reporting-formats-for-fund-management-entities-in-ifsc03042025071927.pdf&Title=Revision%20in%20reporting%20formats%20for%20Fund%20Management%20Entities%20in%20IFSC&Date=03%2F04%2F2025