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The International Financial Services Centres Authority clarifies that specific disclosure clauses for dealing in securities apply only to dealings within GIFT-IFSC. This rule affects all recognized Market Infrastructure Institutions in GIFT-IFSC. The rule applies to Directors and Key Management Personnel. The affected persons follow the clarification for security dealings under the previous circular.
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CIRCULAR
286/IFSCA/ CMD-DMIIT/PM/2021/001
November 30, 2021
To,
All Market Infrastructure Institutions (MIIs) in GIFT-IFSC including Bullion Exchange, Bullion Clearing Corporation and Bullion Depository
Dear Sir/Madam,
Subject: Clarification regarding disclosure of dealing in securities by Directors and Key Management Personnel of the all recognized MIIs in GIFT-IFSC
Vide circular 286/IFSCA/ CMD-DMIIT/PM/2021 dated September 13, 2021 (“the circular”) IFSCA had issued the guidelines on the “Code of Conduct and Code of Ethics for the Directors and Key Management Personnel (KMP) of recognized Market Infrastructure Institutions (MIIs) in GIFT-IFSC.”
Clause 5 (c), clause 9 and clause 10 of the circular pertain to disclosure of dealing in securities by the Directors and Key Management Personnel. It is hereby clarified that the aforementioned clauses will only be applicable with respect to dealings in securities in GIFT-IFSC.
This circular is issued in exercise of powers conferred by section 12 of the International Financial Services Centres Authority Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres.
A copy of this circular is available on the website of the International Financial Services Centres Authority at www.ifsca.gov.in
Yours faithfully,
Praveen Kamat
Deputy General Manager
Division of Market Infrastructure Institutions & Technology
Capital Markets Department
email: praveen.kamat@ifsca.gov.in
Tel: +91-079-61809820
