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The International Financial Services Centres Authority defers the regulatory fee for the listing of privately placed debt securities on recognised stock exchanges in the IFSC until March 31, 2023. This change applies to recognised stock exchanges in the IFSC. The authority issues this update to promote the primary listing of debt securities during the nascent stage of the debt market. Stock exchanges must submit the chartered accountant certification for regulatory fees on an annual basis.
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[Image omitted. See the official document.]
CIRCULAR
F. No. IFSCA-PLNP/5/2021-Capital Markets
December 23, 2021
To, All stock exchanges in the International Financial Services Centre (IFSC)
Dear Sir/Madam,
Sub: Regulatory fee structure for recognised stock exchanges in the IFSC
The recognised stock exchanges in the IFSC are required to pay regulatory fee in accordance with the applicable regulations and IFSCA circular on "Fee structure for Market Infrastructure Institutions (MIIs) and participants" dated April 13, 2021. As per the regulations, such fee has to be accompanied with a statement of computation of fee certified by a chartered accountant. In this context, it is clarified that the certification by a chartered accountant may be submitted on an annual basis.
Further, IFSCA vide circular IFSCA-PLNP/5/2021-Capital Markets dated September 15, 2021 prescribed the fee structure for issuance and listing of securities on the recognised stock exchanges in the IFSC.
It has been represented by the stakeholders that considering the nascent stage of debt market at IFSC, the levy of fees for listing of privately placed debt securities may be deferred till development of the market at IFSC. Accordingly, in order to promote primary listing of debt securities on the recognised stock exchanges in the IFSC, it has been decided to defer the levy of regulatory fee of USD 1,000/ - in respect of listing of privately placed debt securities, till March 31, 2023.
This circular is issued in exercise of powers conferred under section 12 of the IFSCA Act, 2019 and regulation 183 of the IFSCA (Issuance and Listing of Securities) Regulations, 2021.
A copy of this circular is available on the website of IFSCA at www.ifsca.gov.in/Circular.
Yours faithfully,
Arjun Prasad Deputy General Manager arjun.pd@ifsca.gov.in
