All fund management entities (FMEs), including mutual funds (MFs) and alternative investment funds (AIFs), will have to seek authorisation for each new scheme before the launch, the International Financial Services Centres Authority (IFSCA) announced on Friday through a circular.
"In order to provide operational clarity, it has been decided that all FMEs shall henceforth seek authorisation from the Authority for each scheme filed under Chapters III, IV, and V of the Regulations," said IFSCA in the circular.
