The International Financial Services Centres Authority Act, 2019

The International Financial Services Centres Authority Act, 2019 was enacted to provide for the establishment of the International Financial Services Centres Authority (IFSCA) to regulate financial services in the International Financial Services Centre (IFSC) located in India. The IFSCA will act as a unified regulator for all financial services provided in the IFSC, which includes banking, insurance, securities and financial institutions. The Act defines the powers and functions of the IFSCA, which include regulation, supervision, and development of financial services in the IFSC. The IFSCA will also have the power to make regulations and rules for the conduct of financial services and to ensure compliance with these regulations. The Act also provides for the establishment of an International Financial Services Centres Authority Fund to meet the expenses of the IFSCA.