IFSCA Mandates ICSI Certification for IFSC CMIs by Sept 30, 2026

F. No. IFSCA-PLNP/80/2024-Capital Markets dated: 02.04.2026

The International Financial Services Centres Authority (IFSCA) has mandated a certification requirement for professionals associated with Capital Market Intermediaries (CMIs) operating in IFSCs.

1. Specified Certification Course

The prescribed certification is titled: “Regulatory Framework for Capital Market Intermediaries in IFSC”

• The course is offered by the Institute of Company Secretaries of India (ICSI)
• It is aimed at enhancing regulatory understanding and compliance capabilities

2. Applicability of the Requirement

The certification is mandatory for:

• Key Managerial Personnel (KMPs)
• Employees engaged in core activities of CMIs

3. Compliance Deadline

• The certification must be completed by 30th September 2026

4. Responsibility for Compliance

• CMIs and their controlling persons are responsible for ensuring compliance
• They must ensure that all relevant personnel complete the certification within the prescribed timeline

5. Objective of the Mandate

The requirement seeks to:

• Strengthen regulatory awareness and expertise
• Improve governance and compliance standards
• Enhance investor confidence in IFSC market intermediaries

6. Conclusion

This initiative reinforces IFSCA’s focus on building a well-informed and competent ecosystem, ensuring that key personnel in capital market intermediaries are equipped with the necessary regulatory knowledge and skills.

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