IFSC Authority Sets Norms for Bookkeeping, Accounting, Taxation, and Financial Crime Compliance Services for IFSCs

Notification No. IFSCA/GN/2024/003, Dated: 04.06.2024

The IFSC Authority has notified the IFSCA (Book-keeping, Accounting, Taxation and Financial Crime Compliance Services) Regulations, 2024. The regulations aim to establish a regulatory framework for developing, registering, and operating Book-keeping, Accounting, Taxation, and Financial Crime Compliance Services from International Financial Services Centres.

The norms provide for registration application, certificate grant procedure, Fit and Proper Requirements, Safeguarding conditions, Service Recipient, Appointment of Principal Officer and Compliance Officer, Minimum office space criteria, Currency of Operations, etc.

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