IFSCA Amends Performance Review Committee Regulations 2025

  • Blog|News|FEMA & Banking|
  • 2 Min Read
  • By Taxmann
  • |
  • Last Updated on 14 October, 2025

Latest from Taxmann

IFSCA Performance Review Committee Amendment 2025

Notification F. No. IFSCA/GN/2025/009, Dated: 29.09.2025

1. Introduction

The International Financial Services Centres Authority (IFSCA) has introduced an important regulatory update through the International Financial Services Centres Authority (Performance Review Committee) (Amendment) Regulations, 2025. This amendment seeks to strengthen governance and accountability within the Performance Review Committee by adding new provisions on resignation procedures and ethical standards for members.

2. Key Amendment on Member Resignation

A notable feature of the amendment is the insertion of provisions allowing committee members to resign by submitting a written notice of not less than six weeks. This change provides a clear and structured mechanism for voluntary exit, ensuring continuity in the functioning of the Committee and sufficient time for the authority to process such resignations in an orderly manner.

 3. Introduction of a Code of Conduct

The amendment also introduces a new Regulation 3A, which lays down a formal Code of Conduct for members of the Committee. This Code is intended to uphold high ethical standards, integrity, and professionalism in the functioning of the Committee. It sets expectations regarding the behaviour, responsibilities, and accountability of members.

 4. Declaration of Fidelity and Secrecy

In addition to the Code of Conduct, members are now required to sign a declaration of fidelity and secrecy. This provision ensures that sensitive information accessed by committee members during the course of their duties is handled with the highest level of confidentiality. This step enhances trust in the regulatory processes of the IFSCA and safeguards the integrity of financial operations within the IFSC ecosystem.

5. Conclusion

The IFSCA’s amendment to the Performance Review Committee regulations is a progressive step toward strengthening governance frameworks. By introducing a structured resignation process, a formal Code of Conduct, and a confidentiality declaration, the Authority aims to promote transparency, accountability, and ethical conduct. This move is expected to enhance institutional credibility and reinforce confidence among stakeholders in the IFSC regime.

Click Here To Read The Full Notification

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Taxmann editorial team

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied

Leave a Reply

Your email address will not be published. Required fields are marked *

«
»

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied