IFSCA (Fund Management) Regulations, 2025
Registration, governance, scheme and conduct rules for fund management entities and their schemes in GIFT IFSC, replacing the 2022 Regulations.
- Applies in
- India
- Edition
- Notified 19 Feb 2025; consolidated to 10 Sep 2026
- Area
- Investment & funds
What an assessor reads first.
The headline requirements in Amoreg’s catalogue, in the issuer’s own numbering where it has one. They are where a review starts, not a transcription of the text.
- Reg. 3Obtain IFSCA registration as an FME before commencing operationsAuthorisation
- Reg. 7Designate a principal officer and appoint qualified KMPs, including a compliance officerGovernance
- Reg. 8Maintain the Second Schedule net worth at all timesCapital
- Reg. 118FME, fiduciaries and KMPs follow the Third Schedule Code of ConductConduct
- Reg. 119Maintain books of account, records and documents per schemeRecords
- Reg. 121-122Maintain a business continuity plan and a cyber security and resilience frameworkResilience
- Reg. 123Operate sound risk management and internal controls, including over outsourcingRisk management
- Reg. 132 / 135Appoint an independent custodian and have scheme accounts independently auditedCustody & audit
How Amoreg keeps you on it.
Enable the IFSCA (Fund Management) Regulations, 2025 and the Monitor suggests IFSCA as a source. Every publication it records keeps its source, stage and date.
Inspector reads your policies against these 8 requirements every week and opens a finding wherever one falls short, citing the rule and drafting the fix. A person decides what is applied.
Each week
- Read ifsca.gov.in/Legal/Index?MId=mmImZ5oR114%3D
- Check the library against 8 requirements
- Open findings with drafted fixes
- Wait for a person to decide
Policy does not yet set out: obtain IFSCA registration as an FME before commencing operations
- Rule
- IFSCA (Fund Management) Regulations, 2025, Reg. 3
- Area
- Authorisation
- Proposed by
- Inspector
- Decided by
- A named person, once reviewed
The same ground, elsewhere.
- AIFMD (as amended by AIFMD II)Authorisation, delegation, liquidity management, loan origination and reporting for alternative investment fund managers.European Union · 6 controls
- UCITS DirectiveRetail fund product rules: eligible assets, diversification, depositary, KIID/KID and remuneration.European Union · 5 controls
- EMIR — European Market Infrastructure RegulationClearing, reporting and risk mitigation for derivatives.European Union · 3 controls
- SFDR — Sustainable Finance Disclosure RegulationEntity and product-level sustainability disclosures for financial market participants.European Union · 5 controls
- MiCA — Markets in Crypto-Assets RegulationAuthorisation and conduct for crypto-asset service providers and issuers.European Union · 4 controls
- Guernsey Protection of Investors Law & Collective Investment Scheme RulesLicensing and conduct for investment business and the rules for authorised and registered schemes.Guernsey · 4 controls
Also in India
- SEBI (Intermediaries) Regulations, 2008SEBI regulations for all registered intermediaries, covering registration, fit-and-proper criteria, general conduct, inspection and enforcement.India · 8 controls
- SEBI (Prohibition of Insider Trading) Regulations, 2015SEBI regulations preventing insider trading and controlling unpublished price sensitive information (UPSI) at listed companies, intermediaries and fiduciaries.India · 8 controls
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015SEBI regulations for the continuing disclosure and corporate governance obligations of listed entities, read with the LODR master circular.India · 8 controls
- SEBI (Investment Advisers) Regulations, 2013SEBI regulations for the registration, qualifications and client-facing conduct of investment advisers, read with the IA master circular.India · 8 controls
- SEBI Cybersecurity and Cyber Resilience Framework (CSCRF)SEBI framework setting cybersecurity and cyber resilience requirements for SEBI-regulated entities, graded by entity category.India · 8 controls
- RBI (Commercial Banks – Know Your Customer) Directions, 2025RBI's binding KYC/AML/CFT direction for commercial banks under the PML Act and Rules, replacing the repealed 2016 KYC Master Direction.India · 8 controls
Questions
Does Amoreg watch for changes to the IFSCA (Fund Management) Regulations, 2025?
Yes. Enable it and the Monitor suggests International Financial Services Centres Authority as a source; every publication it records keeps its source, stage and date.
Can Amoreg check our policies against the IFSCA (Fund Management) Regulations, 2025?
Yes. Inspector reads your library against its requirements every week and opens a finding, with the rule it cites and a proposed fix, wherever a policy falls short. A person decides what is applied.
Which edition does Amoreg use?
The catalogue records Notified 19 Feb 2025; consolidated to 10 Sep 2026. Editions were last verified in August 2026, and the Monitor records new publications as they appear.