Expert panel on Variable Capital Company submits report to IFSCA
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Expert panel on Variable Capital Company submits report to IFSCA. Image Source: IANS News
New Delhi, June 1 : An expert committee has suggested separate legal framework akin to Variable Capital Company (VCC) for the purpose of conducting fund management activity in the International Financial Services Centres (IFSCs).
In its report submitted to International Financial Services Centres Authority (IFSCA) Chairperson Injeti Srinivas, the K.P. Krishnan-headed expert committee on feasibility of VCCs in the IFSCs recommended that a legal framework governing entities that undertake fund management would provide certainty and clarity to investors.
Economy > Investments
Expert committee set up to advise IFSC on investment funds
26 May 2021
The union finance ministry on Tuesday announced the setting up of of an expert committee to recommend a road map for the fund industry to the International Financial Services Centres Authority (IFSCA).
IFSCA has been constituted as a unified regulator to develop and regulate financial products, financial services and financial institutions in the International Financial Service Centres (IFSCs) in India.
Since the fund industry plays an increasingly important role in intermediating between seekers of capital and investors, IFSC has been actively engaging with stakeholders to enhance the global reach of GIFT-IFSC. The regulatory approach has been to benchmark with global standards and adopt a facilitative framework to provide ease of operations for seeker as well as provider of capital.
IFSCA constitutes Nilesh Shah headed expert committee on Investment Funds
May 25, 2021
Panel will recommend long-term vision for operation of Investment Funds in IFSCs
Gift city regulator IFSCA has constituted an expert committee on Investment Funds to recommend the roadmap for the funds industry in the International Financial Services Centres (IFSCs).
The committee – headed by Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Co Ltd – has been tasked to recommend to the IFSCA on long-term vision for operation of Investment Funds in IFSC.
The 12-member panel comprises leaders from the entire fund management ecosystem including from areas such as technology, distribution, legal, compliance and operations.