Summary
- The International Financial Services Centres Authority (IFSCA) has proposed new guidelines for engaging Financial Solicitation Professionals (FSPs) to enhance access to financial services in International Financial Services Centres (IFSCs).
- FIs must conduct due diligence on FSPs, who will be required to disclose their affiliation and provide accurate information without misleading clients.
- The guidelines emphasize transparency, with FIs responsible for the actions of their engaged FSPs and mandated to publish updated lists of these professionals.
- Stakeholders can submit comments on the draft guidelines until 30 November 2026, as the proposals are still subject to consultation.
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