The International Financial Services Centres Authority (IFSCA) on May 31, 2023, issued a circular regarding Reporting Norms for Fund Management Entities under IFSCA (Fund Management) Regulations, 2022.
The following reporting norms for Fund Management Entities (FMEs) in IFSCs are as stated:
• The FMEs shall submit information to the Authority in the prescribed formats (provided at https://ifsca.gov.in/Downloadfile/Index) on a half-yearly basis.
• The half-yearly report to the Authority shall include
o Quantitative information about the fund management operations of the FME, which shall be submitted in an editable Excel file.
o A “Compliance Report”, the signed copy of which shall be submitted as a scanned PDF file.
• While the first report under this Circular, corresponding to the period October 01, 2022, to March 31, 2023, shall be submitted latest by June 21, 2023, the subsequent reports for each half-year period shall be submitted within 21 calendar days from the end of the half-year.
• The reports shall be submitted to the Authority by way of an email. A dedicated email id created for this purpose is mentioned in the reporting formats.
• The Authority will continue to monitor the fund management industry in IFSC and may supplement/update the reporting formats if so required. Accordingly, at the end of each half-year period, the FMEs shall access the latest reporting formats from the IFSCA website under the “Downloads” section (https://ifsca.gov.in/Downloadfile/Index).
[Circular No. 970/IFSCA/FME Supervision/2023-24]
