The International Financial Services Centres Authority (IFSCA), on August 10, 2026, issued a clarification regarding its earlier Circular dated May 12, 2026 on “Implementation Services by Investment Advisers in the IFSC.” The clarification refers to Regulation 80 of the IFSCA (Fund Management) Regulations, 2025, which permits Fund Management Entities (FMEs) providing Portfolio Management Services to also offer advisory services in compliance with the IFSCA (Capital Market Intermediaries) Regulations, 2025.
IFSCA has clarified that the Implementation Services Circular dated May 12, 2026, which prescribes the manner in which registered Investment Advisers may provide implementation services under the Capital Market Intermediaries Regulations, does not apply to Fund Management Entities providing advisory services under the Fund Management Regulations.
The clarification has been issued in exercise of the powers conferred under Sections 12 and 13 of the International Financial Services Centres Authority Act, 2019, read with Regulation 146 of the IFSCA (Fund Management) Regulations, 2025, thereby providing regulatory certainty on the applicability of implementation service requirements to FMEs.
[Circular No. IFSCA-PLNP/94/2025-Capital Markets/10082026]
