You are here: Home » Markets » News
Business Standard

IFSCA issues regulatory framework for market access via authorised persons

An Authorised Person is any individual, partnership firm, LLP or body corporate who provides access to the trading platform of a stock exchange as an agent of the stock broker, the IFSCA said in a sta

Topics
regulatory structure | Sebi | Gujarat

Press Trust of India  |  New Delhi 

Photo: Reuters
Photo: Reuters

International Financial Services Centres Authority on Wednesday issued a regulatory framework for market access through Authorised Person to widen the investor base for exchange-traded products in the IFSC and enhance the secondary market liquidity.

An Authorised Person is any individual, partnership firm, LLP or body corporate who provides access to the trading platform of a stock exchange as an agent of the stock broker, the IFSCA said in a statement.

"Under the framework, the stock brokers/ trading members (registered with either IFSCA or or both) of the stock exchanges shall be permitted to provide market access to investors through Authorised Persons based in foreign jurisdictions," it said.

Gujarat-headquartered IFSCA has been authorised to regulate all financial services at international financial services centres (IFSCs) in Gandhinagar.

The IFSCA was established on April 27 this year with head office in Gandhinagar.

In December 2019, Parliament passed a bill to set up a unified authority for regulating all financial activities at the IFSCs in the country.

The first IFSC in the country has been set up at International Finance Tec-City (GIFT) in Gandhinagar.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, October 14 2020. 23:19 IST
RECOMMENDED FOR YOU
.