The International Financial Services Centres Authority (IFSCA) on December 06, 2024, issued the Draft International Financial Services Centres Authority (KYC Registration Agency) Regulations, 2024.
The following has been stated namely: -
• It aims to centralize KYC records in IFSC, streamlining client onboarding and enhancing Customer Due Diligence for regulated entities.
• It specifies the:
o registration requirements,
o fit and proper requirements,
o Annual Audit,
o Inspection,
o Risk Management and
o Code of Conduct to be followed by KRAs
• The comments may be sent by email at [email protected] and [email protected] with the subject line “Comments on draft IFSCA (KYC Registration Agency) Regulations, 2024” latest by December 27, 2024.
Detailed notification is attached below.
