Brief Overview:
IFSCA has proposed revamping its regulatory framework to enable broker-dealers in the GIFT-IFSC to access global financial markets.
This development follows SEBI’s announcement to allow SEBI registered stockbrokers to establish operations in GIFT-IFSC through a Separate Business Unit (SBU) without any specific approval.
Technical Details:
Recognizing evolving market dynamics, IFSCA proposes a modernized framework to enable IFSC broker-dealers to operate on global stock exchanges. The proposed framework is designed to:
1) Expand global access for GIFT-IFSC broker-dealers
2) Regulate outbound investments from India
3) Streamline operational protocols
4) Strengthen risk management practices
5) Align with global regulatory standards.
JC takeaway:
The initiative aims to strategically position GIFT-IFSC as a key regional center for facilitating international investment and cross-border financial services.
For further details, please see:
https://ifsca.gov.in/ReportPublication?MId=nQFcGR8-JBM=
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