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CS Professional · IFSCA - Regulations, Listing and Compliances · IFSCA Ecosystem and Regulatory Framework

The Central Government wants to propose Ms Kavita, a professional with special knowledge of economics and accountancy, as a Member. Which qualification standard does the IFSCA Act, 2019 lay down for Members?

Ms Kavita can qualify. The Act requires persons of ability, integrity and standing with capacity in financial sector matters or special knowledge or experience in law, finance, economics, accountancy, administration or another discipline useful to the Authority in the Central Government's opinion.

  1. APersons of ability, integrity and standing with capacity in financial sector matters or special knowledge or experience of law, finance, economics, accountancy, administration or another useful disciplineCorrect
  2. BOnly persons who have previously served as RBI or SEBI officers
  3. COnly chartered accountants with ten years of practice
  4. DOnly persons holding a degree in law

Explanation

The Act requires persons of ability, integrity and standing who have shown capacity in financial sector matters or have special knowledge or experience of law, finance, economics, accountancy, administration or another discipline the Central Government considers useful. Economics and accountancy expertise therefore qualifies; the other options impose restrictions not found in the Act.

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