IFSCA circular F. No. IFSCA-PLNP/80/2024-Capital Markets · 02 Apr 2026
Official title
Specification of Certification Course for KMPs and other employees of Capital Market Intermediaries under the IFSCA (Capital Market Intermediaries) Regulations, 2025
Summary
Check the official recordThe International Financial Services Centres Authority (IFSCA) has mandated a specific certification course for Key Managerial Personnel (KMP) and employees engaged in core business activities at Capital Market Intermediaries (CMIs) operating within the IFSC. The designated course is the "Regulatory Framework for Capital Market Intermediaries in IFSC" provided by The Institute of Company Secretaries of India. CMIs and their controlling persons are responsible for ensuring that all relevant staff successfully complete this certification by September 30, 2026. While mandatory for core operational staff, the Authority encourages employees in non-operational or support roles to also undertake the course to improve professional competence and regulatory compliance standards.
What you must do
Key dates
Who is affected
F. No. IFSCA-PLNP/80/2024-Capital Markets
April 02, 2026
To,
All Capital Market Intermediaries in the International Financial Services Centres (IFSC)
Dear Sir/Madam,
Sub: Specification of Certification Course for KMPs and other employees of Capital Market Intermediaries under the IFSCA (Capital Market Intermediaries) Regulations, 2025
Reference is drawn to sub-regulation (5) of regulation 9 of the International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2025 (‘CMI Regulations’), which empowers the Authority to specify certification courses for the employees of capital market intermediaries (‘CMIs’) in the IFSC.
Accordingly, the Authority hereby specifies the following certificate course:
"Regulatory Framework for Capital Market Intermediaries in IFSC" offered by The Institute of Company Secretaries of India.
The CMI shall ensure that its Key Managerial Personnel and all other employees discharging core business activities, successfully complete the said certification course on or before September 30, 2026.
The CMI and the person(s) in control of the CMI shall be responsible for ensuring timely completion of the specified certification course by its employees as specified in this circular.
Further, employees of the CMIs involved in providing non-operational / support services are encouraged to undertake this certification to enhance professional competence, ensure regulatory preparedness, and promote higher standards of operational excellence within the IFSC.
This circular is issued in exercise of the powers conferred under Sections 12 and 13 of the International Financial Services Centres Authority Act, 2019, read with sub-regulation (5) of regulation 9 and regulation 45 of the CMI Regulations, and shall come into force with immediate effect.
A copy of this circular is available on the website of the International Financial Services Centres Authority at www.ifsca.gov.in.
Yours faithfully,
Arjun Prasad General Manager Department of Capital Markets arjun.pd@ifsca.gov.in +91 79 6180 9815
