Summary: The International Financial Services Centres Authority (IFSCA), through Circular No. IFSCA-PLNP/80/2024-Capital Markets dated 30 September 2026, has extended the timeline for successful completion of the prescribed certification course by Key Managerial Personnel (KMPs) and other employees of Capital Market Intermediaries. The extension has been granted under the International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2025. The circular refers to sub-regulation (5) of regulation 9 of the CMI Regulations and the earlier circulars dated 2 April 2026 and 6 August 2026 relating to specification of certification courses. Under the circular dated 2 April 2026, the timeline had been specified for successful completion of the certification course. IFSCA has now extended that timeline to 31 December 2026. The circular dated 6 August 2026 had also dealt with specification of certification courses for compliance with regulation 9(5). Except for the extension of the completion timeline, all other provisions of the circulars dated 2 April 2026 and 6 August 2026 remain unchanged. The circular has been issued under sections 12 and 13 of the IFSCA Act, 2019, read with regulations 9(5) and 45 of the CMI Regulations, and comes into force with immediate effect.
International Financial Services Centres Authority
Circular No. IFSCA-PLNP/80/2024-Capital Markets | September 30, 2026
To,
All Capital Market Intermediaries in the International Financial Services Centres
Dear Sir/Madam,
Sub: Extension of timeline for completion of Certification Course by KMPs and other employees of Capital Market Intermediaries under the IFSCA (Capital Market Intermediaries) Regulations, 2025
1. Reference is drawn to sub-regulation (5) of regulation 9 of thee International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2025 (“CMI Regulations”), and to the circulars dated April 02, 2026 and August 06, 2026 on Specification of Certification Course for KMPs and other employees of Capital Market Intermediaries under the IFSCA (Capital Market Intermediaries) Regulations, 2025
2. The timeline for successful completion of the certification course, specified in paragraph 3 of the circular dated April 02, 2026, has been extended to December 31, 2026.
3. All the other provisions of the Circulars dated April 02, 2026 and August 06, 2026 shall remain unchanged.
4. This circular is issued in exercise of the powers conferred under Sections 12 and 13 of the International Financial Services Centres Authority Act, 2019, read with sub-regulation (5) of regulation 9 and regulation 45 of the CMI Regulations, and shall come into force with immediate effect.
5. A copy of this circular is available on the website of the International Financial Services Centres Authority at www.ifsca.gov.in.
Yours faithfully,
Pawan Kumar Chowdhary
Deputy General Manager
Department of Capital Markets
Email- [email protected]
Tel-079- 61809854
