The Government of Gujarat, on May 04, 2026, issued the NSE IFSC Limited Rules.
The following has been stated:-
•The NSE IFSC Limited Rules, published in the Government of Gujarat Gazette on 4 May 2026, establish a comprehensive governance and regulatory framework for the functioning of the exchange, its Board, Committees, broker-dealers, and SPV operations.
•The Rules clarify that Securities Laws and Exchange Bye Laws will prevail in case of any conflict and empower the Board to regulate exchange operations, broker admissions, disciplinary mechanisms, and business conduct.
•Detailed provisions have been laid down regarding the constitution and powers of Committees, including meeting procedures, quorum, delegation of authority, and conflict-of-interest disclosures.
•The Rules also prescribe eligibility, admission, transfer, suspension, termination, and readmission conditions for broker-dealers, along with compliance obligations related to registration, capital adequacy, and operational conduct.
•A separate chapter provides an extensive disciplinary framework covering misconduct, market manipulation, unprofessional conduct, penalties, suspension, expulsion, and appeals, ensuring strict regulatory oversight and investor protection.
•Additionally, the Rules contain special provisions governing SPV activities, cross-border transactions, securities dealings, clearing and settlement arrangements, and compliance obligations under the regulatory framework of the International Financial Services Centres Authority and other applicable securities laws.
The detailed notification is given in the document below.
[Notification No.: 3304]
