IFSC: Sebi amends norms for intermediaries

New Delhi: Markets regulator Sebi on Thursday amended the guidelines for intermediaries operating at the International Financial Services Centre (IFSC), wherein such entities will be permitted to carry out operations without forming a separate company.

The facility - subject to various conditions, including Sebi nod - would not be applicable for trading and clearing members.

Besides, the watchdog has changed the guidelines for reporting of financial statements by issuers listing their debt securities at IFSC.

The regulator said the changes are being made to "further streamline the operations at IFSC, based on the internal discussions and consultations held with the stakeholders".

In this regard, amendments have been made to the Sebi (International Financial Services Centres) Guidelines, 2015.

Currently, Gujarat International Finance Tec-City (GIFT) is the lone IFSC in the country.

Sebi-registered intermediaries or its international associates may provide financial services relating to securities market in IFSC, without forming a separate company subject to the regulator's prior approval, according to a circular.