The International Financial Services Centres Authority (IFSCA) has amended its Master Circular for Distributors in the IFSC, expanding the jurisdictions specified for distribution activities under Regulation 32 of the CMI Regulations, 2025.
The newly specified jurisdictions are:
🇦🇪 UAE
🇸🇬 Singapore
🇦🇺 Australia
🇪🇺 European Union
However, these jurisdictions are subject to an important condition: they must not be identified by FATF as High-Risk Jurisdictions subject to a Call for Action or under Increased Monitoring, or be classified as high-risk by the Central Government for money laundering, terrorist financing or proliferation financing.
A key clarification for IFSC fund managers
IFSCA has also clarified that the term “jurisdiction” refers to the jurisdiction of domicile of the capital market product or service, rather than the jurisdiction where the entity managing that product or service is located.
The amendment is effective immediately from September 18, 2026.
For Fund Management Entities, distributors and other IFSC ecosystem participants, this clarification is relevant when assessing cross-border distribution structures and applicable jurisdictional requirements.