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CS Professional · IFSCA - Regulations, Listing and Compliances · Fund Management Services

Aarav Capital, a Mumbai-based asset manager, wants to set up a fund in GIFT IFSC that will pool money from investors and invest in securities. Which authority regulates the registration and conduct of fund management entities operating from the GIFT IFSC?

The International Financial Services Centres Authority regulates fund management in GIFT IFSC. It is the unified regulator for IFSC financial services and administers the IFSCA (Fund Management) Regulations, 2022, so fund managers there register with it rather than SEBI, RBI or IRDAI.

  1. ASecurities and Exchange Board of India alone
  2. BInternational Financial Services Centres AuthorityCorrect
  3. CReserve Bank of India alone
  4. DInsurance Regulatory and Development Authority of India alone

Explanation

IFSCA is the unified regulator for financial products, services and institutions in IFSCs, and fund management activity there is governed by the IFSCA (Fund Management) Regulations, 2022. SEBI, RBI and IRDAI regulate domestic business and do not register fund managers operating in the IFSC under the IFSCA framework. SEBI alone is therefore wrong.

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