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CS Professional · Strategic Management and Corporate Finance · An Overview on Listing and Issuance of Securities in International Financial Services Centre

Which body has the statutory duty under the IFSCA Act, 2019 to develop and regulate financial products, financial services and financial institutions in IFSCs, including securities listed on IFSC exchanges?

The International Financial Services Centres Authority has the statutory duty to develop and regulate financial products, financial services and financial institutions in IFSCs, using measures it considers fit. This covers securities listed on IFSC exchanges, so SEBI or RBI alone are not the regulator here.

  1. AThe International Financial Services Centres AuthorityCorrect
  2. BThe Securities and Exchange Board of India alone
  3. CThe Reserve Bank of India alone
  4. DThe Special Economic Zone Development Commissioner

Explanation

Section 12(1) makes it the duty of the Authority to develop and regulate financial products, financial services and financial institutions in IFSCs by such measures as it deems fit. The other bodies are not given this overall duty under the Act, so listing of securities in an IFSC falls under the Authority.

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