Reporting norms for Fund Management Entities in IFSC

PUBLISHED ON: 05-06-2023

IFSCA has issued a circular dated May 31, 2023, (available here) specifying certain additional reporting norms for fund management entities (“FMEs”) under the IFSCA (Fund Management) Regulations, 2022 (“FME Regulations”), the overview of which is set out hereunder:

• FMEs to submit a half yearly report to the IFSCA by way of email. Such half yearly report would include quantitative information about the fund management operations as well as a compliance report stating that the FME has complied with the FME Regulations.
• The first half yearly report pertaining to the period from October 1, 2022, to March 31, 2023, to be submitted by June 21, 2023. The subsequent half yearly reports would be submitted within 21 days from the end of the half year.