International Financial Services Centres Authority (IFSCA) recently released Draft IFSCA (Capital Market Intermediaries) Regulations, 2024 for public consultation. These proposed regulations provide the revised regulatory framework for registration, regulation and supervision of capital market intermediaries set up in the IFSC and to facilitate intermediation of financial services in the capital market ecosystem focusing on protection the interests of investors and maintaining the integrity of the markets. The salient features of the New CMI Regulations, include Research Entity as new Category of Intermediaries, Key Changes in existing categories such as Distributors, ESG Ratings and Data Products Provider, Broker Dealers desirous of accessing global markets only, Rationalisation of Net Worth requirements, Principal Officer, Compliance Officer and Other Human Resources among other changes. 

The New CMI Regulations also aim to promote ease of doing business for the entities participating in the capital markets by simplifying and rationalizing requirements based on feedback and suggestions received from the stakeholders.

Public comments may be submitted by 12^th December, 2024.

Click the icon to access the Draft regulations-