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

Making sense of the ‘crisis of political representation’

Imprints of the Populist Time By Ranabir Samaddar Orient BlackSwan, 352 pages, Rs. 1105 The crisis of liberal democracy in the neoliberal world—marked by massive l

Budget: Highlights

Union minister of finance and corporate affairs Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament on Wednesday. The highlights of the Budget are as follows: PART A     Per capita income has more than doubled to Rs 1.97 lakh in around

Budget presents vision for Amrit Kaal: A blueprint for empowered, inclusive economy

Union Budget 2023-24, presented by finance minister Nirmala Sitharaman in the Parliament on Wednesday, outlined the vision of Amrit Kaal which shall reflect an empowered and inclusive economy.  “We envision a prosperous and inclusive India, in which the fruits of development reach all regions an

Soumya Swaminathan to head M S Swaminathan Research Foundation

Former World Health Organisation (WHO) chief scientist Soumya Swaminathan takes charge as chairperson of M S Swaminathan Research Foundation (MSSRF) from February 1.   Founded by her father, the legendary agricultural scientist M S Swaminathan, MSSRF was set up to accelerate the use of m

m-Governance: Key to Digital India

The digital revolution is being led by India. Digital governance is a key component of the government's ambition to transform India into a society where everyone has access to the internet. It includes both M-governance and E-governance, which are major methods for the delivery of services via mobile devic

A sacred offering of the beauty of ‘Saundarya Lahari’ – in English

Saundarya Lahari: Wave of Beauty Translated from the Sanskrit by Mani Rao HarperCollins, 218 pages, Rs 399 ‘Saundarya Lahari’, usually ascribed to Adi Shankaracharya, has a unique status among the religious-spiritual works of Hinduism.

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter