Notification No. IFSCA-PLNP/80/2024-Capital Markets; Dated: 04.09.2025
1. Introduction
The International Financial Services Centres Authority (IFSCA) has issued an important circular revising compliance timelines under the IFSCA (Capital Market Intermediaries) Regulations, 2025. These regulations were introduced to strengthen the governance framework for intermediaries operating in the International Financial Services Centre (IFSC).
2. Revised Norms For Key Appointments
As per the regulations, intermediaries are required to adhere to revised norms governing the appointment of the principal officer and the compliance officer. These roles are central to ensuring that entities maintain strong internal controls, follow regulatory standards, and operate in line with global best practices.
3. Original Compliance Deadline
Initially, the regulations mandated that all existing capital market intermediaries comply with the revised requirements on or before October 1, 2025, or by any other date specified by the Authority. This timeline was set to give entities sufficient opportunity to align their operations with the updated framework.
4. Extension Of Deadline
Recognising the practical challenges faced by intermediaries, the IFSCA has now decided to extend the compliance deadline to December 31, 2025. This extension provides additional time for entities to make necessary adjustments, recruit suitable personnel for key positions, and establish stronger compliance systems without disrupting ongoing operations.
5. Conclusion
The circular, which comes into effect with immediate effect, reflects IFSCA’s balanced approach of promoting robust compliance while accommodating industry readiness. By granting additional time, the Authority ensures that capital market intermediaries in the IFSC can smoothly transition to the new regulatory framework and continue contributing to the growth and stability of India’s international financial ecosystem.
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