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September 2026
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FEMA & RBIIFSC distributors: IFSCA adds UAE, Singapore, Australia and the European Union as specified jurisdictions; “jurisdiction” means where the product is domiciled
4 jurisdictions addedClarifiedIFSCA has amended its Master Circular for Distributors in the IFSC. UAE, Singapore, Australia and the European Union are specified as jurisdictions for regulation 32(1)(a) and (c) of the Capital Market Intermediaries Regulations, 2025, provided they are not FATF-listed or notified as high risk. “Jurisdiction” refers to the domicile of the product, not the location of its manager.
August 2026
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SEBISEBI proposes Fixed Income Channel Partners to distribute bonds through online bond platforms; charges to clients capped at 2.5%. Comment window closed on 11 September 2026
Bond distributors (FICP): draftComments invitedA SEBI consultation paper issued on 21 August 2026 proposes a new class of Fixed Income Channel Partners (FICPs), enlisted with stock exchanges and appointed by Online Bond Platform Providers, to distribute fixed income securities on the lines of mutual fund distributors. FICPs could not handle client funds or charge clients, and AT1-type unsecured perpetual bonds would be out of bounds. Comments were due by 11 September 2026; the window has closed.
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