IFSCA Introduces Definition of ‘Distributor’ in IFSCA (Capital Market Intermediaries) Regulations, 2021
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- Last Updated on 6 July, 2023
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Notification No. IFSCA/2023-24/GN/REG040, Dated 03.07.2023
The IFSCA has notified amendment in IFSCA (Capital Market Intermediaries) Regulations, 2021. A new clause ‘ga’ & ‘oa’ introducing the definitions of ‘capital market intermediary’ & ‘distributor’ has been inserted in Regulation 2.
The distributor means a person who for remuneration engages with clients on behalf of an issuer or a service provider to facilitate investment or subscription into “capital market products” or “capital market services”.
Further, an addition of word ‘distributor’ has been notified in Regulation 3(1) i.e., Obligation to seek registration. Now, distributors can commence operations in an IFSC after obtaining a certificate of registration from the Authority.
Click Here To Read The Full Notification
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