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 SEBI 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 Gujarat International Finance Tec-City (GIFT) in Gandhinagar.
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