Introduction

Edition 18th 23-24

Week – August 28th to September 02nd

Quote for the week:

"Success usually comes to those who are too busy looking for it”

–  Henry David Thoreau (American Naturalist)

We welcome you to our weekly newsletter!

The ‘Swift e-Bulletin’ - weekly newsletter, covers all regulatory updates and critical judgements passed during the week. We hope that you liked our previous editions and found it to be of great value in its content. We want this newsletter to be valuable for you so, please share your feedback and suggestions to help us improve.

Further, various regulatory authorities have been proactive in bringing significant regulatory changes in recent challenging times. This week’s newsletter covers various circulars/notifications issued by certain regulatory authorities such as the Securities and Exchange Board of India (“SEBI”) and International Financial Services Centres Authority (“IFSCA”)

The Regulatory authorities provided various updates/relaxations, some of which being:

1. SEBI vide circular dated August 29, 2023 issued guidelines for Market Infrastructure Institutions (“MIIs”) regarding Cyber security and Cyber resilience.
2. SEBI issued a consultation paper dated August 29, 2023 on proposed IFSCA (Investment by IFSCA Insurance Office) (Amendment) Regulations, 2023.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of August 28th to September 02st.

Thank you,

Swift team

REGULATORY UPDATES

SEBI

1. SEBI vide circular dated August 29, 2023 issued guidelines for Market Infrastructure Institutions (“MIIs”) regarding Cyber security and Cyber resilience

IFSCA

1. IFSCA vide circular dated August 30, 2023 issued a circular on IFSCA Banking Handbook – Opening of SNRR account with AD Banks in India
2. IFSCA issued a consultation paper dated August 29, 2023 on proposed IFSCA (Investment by IFSCA Insurance Office) (Amendment) Regulations, 2023