Circular No. IFSCA/13/2026-Capital Markets/1, Dated 01.04.2026
The International Financial Services Centres Authority (IFSCA) has introduced a mandatory certification requirement for professionals associated with Fund Management Entities (FMEs) operating in IFSCs.
1. Specified Certification Course
The Authority has prescribed a certification titled:
“Regulatory Framework for Fund Management in IFSC – AIFs and Retail Schemes”
- The course is offered by the Institute of Company Secretaries of India (ICSI)
- It is designed to enhance understanding of the regulatory framework governing fund management activities
2. Applicability of the Requirement
The certification is mandatory for:
- Key Managerial Personnel (KMPs)
- Employees engaged in core fund management activities of FMEs
3. Compliance Deadline
- The certification must be completed by 30th September 2026
4. Responsibility for Compliance
- FMEs and persons in control are responsible for ensuring compliance with this requirement
- They must ensure that relevant personnel complete the certification within the prescribed timeline
5. Encouragement for Wider Ecosystem
While mandatory for specified personnel, the Authority has also:
- Encouraged other ecosystem participants to undertake the certification
- Aimed to promote broader regulatory awareness and professional competence
6. Conclusion
This initiative strengthens the IFSC regulatory ecosystem by ensuring that key professionals possess adequate regulatory knowledge and expertise, thereby enhancing governance standards and investor confidence in fund management activities.
Click Here To Read The Full Circular
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