Expert committee on investment funds formed

The Committee has been constituted under the Chairmanship of Nilesh Shah, MD, Kotak Mahindra Asset Management

GN Bureau | May 26, 2021


#InvestmentFunds   #IFSCA   #InternationalFinancialServicesCentresAuthority   #KotakMahindra   #NileshShah  

International Financial Services Centres Authority (IFSCA), in its endeavour to develop a comprehensive and consistent regulatory framework based on global best practices with a special focus on ease of doing business, has constituted an expert committee on investment funds to recommend to IFSCA on the roadmap for the funds industry in the IFSCs. The Committee has been constituted under the Chairmanship of Nilesh Shah, MD, Kotak Mahindra Asset Management Co. Ltd. The Committee comprises of leaders from the entire Fund Management ecosystem including from areas such as technology, distribution, legal, compliance, and operations.

The International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services and financial institutions in the International Financial Service Centres (IFSCs) in India.

The fund industry has been playing an increasingly important role in intermediating between seekers of capital and investors. IFSC has been actively engaging with stakeholders to enhance the global reach of GIFT-IFSC. The regulatory approach has been to benchmark with global standards and adopt a facilitative framework to provide ease of operations for seeker as well as provider of capital.

While the committee has been constituted to holistically review the global best practices and make recommendations to IFSCA on the roadmap for the industry, the following shall be the specific terms of reference of the Expert Committee:

- To recommend IFSCA on long term vision for operations of Investment Funds in IFSC.

- To make recommendations with respect to structure of Investment Funds in IFSC.

- Short term in nature that can be implemented by IFSCA immediately (i.e. less than 3 months). Such suggestions may fall under the exclusive regulatory purview of IFSCA.

- Recommendations that may be implemented in mid-term (6 months to 1 year). Such suggestions may also pertain to regulatory purview of other regulators.

- To identify issues that may be critical for development of the Investment Funds industry at IFSCs including inter-regulatory issues.

- Any other relevant item on building the ecosystem inter-alia on asset managers, hedge funds, PE, VC, sovereign funds, family offices, and the accompanying professional services.

Comments

 

Other News

Remove unauthorized constructions without pressure: Thackeray to BMC

Maharashtra chief minister Uddhav Thackeray has instructed the Mumbai civic authorities to take immediate action on unauthorized constructions on war footing. In a virtual meeting held on Wednesday, Thackeray said no illegal construction will be tolerated in Mumbai and called upon the BMC to

Covid norms relaxed; Mumbai restaurants, shops to remain open longer

After extending timings of shops and restaurants as well as the reopening of cinema halls and theatres under specified SOPs from October 22, in view of the festive cheer, the Maharashtra government has allowed restaurants and eateries to remain open till 12AM and shops and establishments to function till 1

Global Hunger Index data collection flawed: Arvind Panagariya

Rubbishing the recently released Global Hunger Index 2021, wherein India has slipped to 101 position to be placed below Pakistan, Nepal and Bangladesh, Arvind Panagariya, professor of economics at Columbia University and former vice chairman, NITI Aayog, has said that data collection and methodologies used

‘Blue Zones’ concept of healthy living and its relevance in India

A long life span free from diseases and disability, the so-called healthy aging, has been a matter of prime interest to humanity. It is widely held that the life expectancy is a function of interplay between various genetic and environmental factors. There is scientific evidence to support the fact that on

Motilal Nehru too had petitioned for release of his son: Vikram Sampath

Defence minister Rajnath Singh’s statement, that Mahatma Gandhi had asked V.D. Savarkar to file a mercy petition before the British, has ignited a debate. Vikram Sampath, a historian and author of a recent biography of Savarkar, says two weeks after Jawaharlal Nehru was lodged in Nabha jail, his

Gati Shakti: The National Master Plan

The launch of the Gati Shakti master plan will be a booster dose for India growth story. The plan, as the name indicates, will ensure Gati, i.e., speed and Shakti, i.e., empowerment to the ₹1 trillion national infrastructure pipeline. The plan will break inter-ministerial silos. For examp

Visionary Talk with Dr Arvind Panagariya, Professor, Columbia University & Former VC, NITI Aayog



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter