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CS Professional · IFSCA - Regulations, Listing and Compliances · India International Bullion Exchange (IIBX)

Aarav Bullion Pvt Ltd wishes to operate as a trading member of IIBX to deal in precious metals for Indian jewellers. Which authority frames the regulatory framework under which the exchange recognises and supervises such participants?

IFSCA, the unified regulator of International Financial Services Centres, frames the regulations for IIBX and supervises its members and participants. SEBI alone, the Ministry of Mines and BIS do not regulate bullion exchange membership in the IFSC, though BIS standards may relate to product quality.

  1. ASecurities and Exchange Board of India under the SEBI Act alone
  2. BMinistry of Mines through the Mines Act
  3. CInternational Financial Services Centres Authority, as the unified regulator of IFSCCorrect
  4. DBureau of Indian Standards through hallmarking rules

Explanation

IFSCA is the unified regulator for financial products, services and institutions in IFSCs, including bullion exchanges and their members. SEBI alone, the Ministry of Mines and BIS do not frame the IFSC exchange framework, though BIS hallmarking may be relevant to product quality.

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