![]() Substance requirements for the FME have been defined.A green channel route to launch Venture Capital Schemes or non-retail schemes soliciting money from accredited investors. ![]() A Fund Management Entity (FME) will be registered with IFSCA and will be able to manage different types of funds and schemes subject to meeting the eligibility criteria A unified registration for multiple fund activities by regulating the fund manager instead of the existing approach of regulating the Funds.The highlights of the Regulations are as under: The Regulations have been issued in furtherance of IFSCA’s objective to develop a best-in-class regulatory regime for funds and fund managers within IFSC that will support the growing aspirations of the asset management industry and development of IFSC as a leading global destination for the industry. SEBI (Alternative Investment Funds) Regulations, 2012 and the circulars issued by SEBI and the IFSCA in this regard. The Regulations would, inter alia, supersede the existing framework for set up of funds in IFSC i.e. Kasprzak at 21 or Mary Anne Furlong at 21.A Committee of Experts on Investment Funds was set up by International Financial Services Centres Authority (IFSCA) to review global best practices and make recommendations to the IFSCA on the roadmap for the investment funds industry, and accordingly on 31 January 2022 a committee report together with draft IFSCA (Fund Management) Regulations, 2022 were issued for public comments.Īfter receiving public comments, the IFSCA has issued final Fund Management Regulations (Regulations) which will come into effect from 30 th day from the date of passing notification in official gazette i.e., 19 April 2022. Questions relating to Exchange Rule 350 ("Compensation or Gratuities to Employees of Others") may be directed to Stephen A. Questions relating to Guidelines for Exchange employees may be directed to Diane Moreno at 21 or Frank Z. Questions relating to the Guidelines for member organization employees on the Exchange Trading Floor may be directed to Harry Weber 21. Members and member organizations should circulate this memo within their organization since Exchange employees are required to return any gifts and gratuities as well as file a report with Exchange management. This memo is to advise that the Guidelines as described here, in part, reflect the most up-to-date position of the Exchange and must be adhered to by members and member organizations. Members and member organizations may note that Exchange Rule 350 is more permissive than the Exchange Guidelines. An exception is also provided for certain Exchange employees in service provider roles to the Trading Floor, such as coatroom and washroom attendants, who may accept usual and customary gratuities commensurate with the particular services provided. Limited exceptions are provided for Exchange Operations/Clerical Trading Floor employees, who may accept usual and customary gratuities, not in excess of $50 per year, from a member, allied member or member organization. The Guidelines prohibit most Exchange employees from accepting gifts and gratuities from members, allied members and member organizations. With the approaching holiday season, members and member organizations are reminded of the Exchange's policy relating to gifts and gratuities applicable to all Exchange employees. EXCHANGE GUIDELINES ON GIFTS AND GRATUITIESĬHIEF EXECUTIVE OFFICER, MANAGING PARTNERS, COMPLIANCE AND LEGAL DEPARTMENTS
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