Interview Guidance Program (IGP) for UPSC CSE 2024, Registrations Open Click Here to know more and registration
Source: PIB
What is the News?
International Financial Services Centres Authority (IFSCA) has released the proposed IFSCA (Capital Market Intermediaries) Regulations, 2021.
- The regulations provide for regulatory requirements in respect of registration, obligations and responsibilities of various types of capital market intermediaries.
About IFSCA:
- International Financial Services Centres Authority (IFSCA) was established in 2020 under the International Financial Services Centres Authority Act, 2019.
- Role of IFSCA: The IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India.
- At present, the GIFT IFSC in Gandhinagar, Gujarat is the maiden international financial services centre in India.
- Prior to the establishment of IFSCA, the domestic financial regulators, namely, RBI, SEBI, PFRDA and IRDAI regulated the business in IFSC.
What are Intermediaries?
- The intermediaries play an important role by providing intermediation facilities between their clients and the various regulated financial products and financial services in the IFSC.
- Various types of Capital Market intermediaries include: broker dealers, clearing members, depository participants, investment bankers, portfolio managers, investment advisers, custodians, credit rating agencies, debenture trustees and account aggregators.
Discover more from Free UPSC IAS Preparation Syllabus and Materials For Aspirants
Subscribe to get the latest posts sent to your email.
