The International Financial Services Centres Authority (IFSCA) on December 21, 2024, notified regarding the key changes in the IFSCA (Fund Management) Regulations, 2022.
The following key changes have been made to the proposed regulations: -
• For Non-Retail Schemes include reduced corpus requirements, extended PPM validity, increased FME/Associate contributions, joint investments, streamlined categorization, restrictions on related-party transactions, and valuation exemptions for fund of funds.
• For FMEs include relaxed KMP appointment procedures, additional KMP requirements for large AUMs, streamlined qualifications, and mandatory certifications for employees.
• For Registered FME (Retail) and Retail Schemes streamline track record criteria, reduce corpus requirements, revise investment caps, exempt certain fund-of-funds restrictions, and make listing optional for high-minimum-investment schemes.
Detailed notification is attached below.
