IFSCA issued a circular (F. No. IFSCA-PLNP/80/2024-Capital Markets) on December 31, 2025, to all Capital Market Intermediaries in the IFSC, regarding the extension of the deadline for implementing revised norms for Principal Officer and Compliance Officer under the IFSCA (CMI) Regulations, 2025. The deadline for implementing sub-regulations (2), (3), and (8) of regulation 9 of the CMI Regulations has been extended to January 15, 2026, or till the date of publication of the IFSCA (Capital Market Intermediaries) (Amendment) Regulations, 2026 in the Official Gazette, whichever is earlier. The circular is issued under Sections 12 and 13 of the International Financial Services Centres Authority Act, 2019, read with regulation 9 (4) and regulation 45 of the CMI Regulations and is effective immediately. A copy is available at www.ifsca.gov.in. For more information, contact Arjun Prasad, General Manager, Division of CMI - Policy & Registration at arjun.pd@ifsca.gov.in or +91-079-61809815. The authority approved certain amendments to the CMI Regulations relating to the appointment of Principal Officer and Compliance Officer of the capital market intermediaries on December 22, 2025, and the said amendments are in the process of being notified.
Key Entities Referenced
IFSCA (CMI) Regulations, 2025: Regulations for Capital Market Intermediaries issued by IFSCA
International Financial Services Centres Authority Act, 2019: Act conferring powers to IFSCA, cited as legal basis for the circular
IFSCA: International Financial Services Centres Authority, the issuing regulator
Circular
F. No. IFSCA-PLNP/80/2024-Capital Markets December 31, 2025
To
All Capital Market Intermediaries in the IFSC
Dear Sir/ Madam,
Sub: IFSCA (CMI) Regulations, 2025 – Extension of deadline for implementing revised
norms for Principal Officer and Compliance Officer
1. Reference may be drawn to the IFSCA (Capital Market Intermediaries) Regulations, 2025
(“CMI Regulations”) and the IFSCA circular titled “IFSCA (CMI) Regulations, 2025 - Extension
of deadline for implementing revised norms for principal officer and compliance officer” (“the
Circular”)issued on September 04, 2025.
2. In the Circular, the deadline for implementation of sub-regulations (2), (3) and (8) of
regulation 9 of the CMI Regulations was extended till December 31, 2025.
3. The Authority has, in its meeting held on December 22, 2025, approved certain amendments
to the CMI Regulations relating to the appointment of Principal Officer and Compliance Officer
of the capital market intermediaries. The said amendments are in the process of being
notified.
4. In view of the above it has been decided to extend the deadline for implementation of sub-
regulations (2), (3) and (8) of regulation 9 of the CMI Regulations up to January 15, 2026 or
till the date of publication of the IFSCA (Capital Market Intermediaries) (Amendment)
Regulations, 2026 in the Official Gazette, whichever is earlier.
5. The circular shall come into force with immediate effect.
6. This circular is issued in exercise of powers conferred by Sections 12 and 13 of the
International Financial Services Centres Authority Act, 2019 read with regulation 9 (4) and
regulation 45 of the CMI Regulations.
7. A copy of this circular is available on the website of the International Financial Services
Centres Authority at www.ifsca.gov.in.
Yours faithfully,
Arjun Prasad
General Manager
Division of CMI - Policy & Registration
arjun.pd@ifsca.gov.in
+91-079-61809815