Summary
- The International Financial Services Centres Authority (IFSCA) has amended the "Master Circular for Distributors in the IFSC" to include UAE, Singapore, Australia, and the European Union as eligible jurisdictions.
- This amendment follows stakeholder representations and introduces new paragraphs 5.1A and 5.1B in Chapter III of the Master Circular.
- Jurisdictions identified will not qualify if classified as high-risk by the FATF or Central Government for money laundering or terrorism financing.
- The changes take effect immediately and clarify that "jurisdiction" refers to the domicile of capital market products, not the location of managing entities.
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