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IFSCA GNLU Certificate Course on Financial Market Laws

Summary:
International Financial Services Centres Authority and Gujrat National Law University have started offering a joint program on Financial Market Laws: The commercial dialogue among the business entities is incomplete without financial communications. The role of law specifically the financial market (laws and regulations) are significant to regulate the financial activities of the business entities in the financial market. Since 1991, with the liberalised economic policy (Indian Budget 1991-92), the country has seen the opening up of the financial sectors and SEBI got the power to regulate the capital market. In the 30 years of liberalisation, the financial sectors activities are governed by multiple regulators. The current practice of business and commercial law shows the expansion

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International Financial Services Centres Authority and Gujrat National Law University have started offering a joint program on Financial Market Laws:

The commercial dialogue among the business entities is incomplete without financial communications. The role of law specifically the financial market (laws and regulations) are significant to regulate the financial activities of the business entities in the financial market. Since 1991, with the liberalised economic policy (Indian Budget 1991-92), the country has seen the opening up of the financial sectors and SEBI got the power to regulate the capital market. In the 30 years of liberalisation, the financial sectors activities are governed by multiple regulators.

The current practice of business and commercial law shows the expansion of the boundaries of the financial market activities. The classic example is the establishment of the GIFT-IFSC and the International Financial Services Centres Authority (IFSCA). The IFSCA Act, 2019 has given a new dimension to the financial sector activities with the establishment of the IFSCA as an unified financial regulator conferred with the powers of SEBI, RBI, PFRDA, and IRDAI to regulate the financial services market in the International Financial Services Centre/s.

This course is designed covering the legal and regulatory frameworks related to financial sector market and financial services market in the International financial services centres. The participants will have a thorough legal understanding about the practice and procedure related to financial markets and financial services within the boundaries of legal and regulatory framework.

Laws are extremely crucial in understanding of financial markets. Good to see a course being offered on the subject.  Also interesting to see a regulator collaborating with an educational institute to offer a program combining theory with practice.

IFSCA chair remarked on the commencement of the program.

While launching the course Chairperson, IFSCA gave a panoramic view of the importance of IFSCs in the context of global as well as domestic financial sector. In his speech he touched upon important topics such as significance of green finance in the backdrop of Climate change and its role in achieving Sustainable Development Goals. He further stressed that the IFSC has the capability to attract global capital which is required for the economic growth of   India for achieving the sustainable development goals and sought cooperation of all stakeholders in achieving this. He also stated that IFSCA Act is a step in the right direction to give huge imputes to India’s growth.

The speech also covered the extraordinary powers under IFSCA Act, 2019 which signifies the importance given by the Parliament to the unified regulator IFSCA in making India a major destination for the investors and developing it as a truly global financial centre. He also shed light on the genesis of IFSC in India and how IFSCA has strived to develop financial institutions, financial products and financial services in the last one year.

He categorically emphasized that the success of IFSCs would not only rely on the role of the regulator, but it must also be complemented by all the stakeholders in promoting and providing greater exposure for IFSCs, which would also be achieved by imparting knowledge to various stakeholders. In his concluding remarks, he exemplified that the academic outreach by this course from GNLU under the aegis of IFSCA is a steppingstone in this direction.

Let’s see how this one goes..

Amol Agrawal
I am currently pursuing my PhD in economics. I have work-ex of nearly 10 years with most of those years spent figuring economic research in Mumbai’s financial sector.

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