AdvertisementIFSCA has clarified that its Circular dated May 12, 2026, titled “Implementation Services by Investment Advisers in the IFSC”, does not apply to Fund Management Entities providing advisory services. Regulation 80 of the International Financial Services Centres Authority (Fund Management) Regulations, 2025 permits a Fund Management Entity, as part of its Portfolio Management Services, to provide advisory services in compliance with the relevant provisions of the International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2025. Reference may also be drawn to the Circular titled “Implementation Services by Investment Advisers in the IFSC” (hereinafter referred to as “Implementation Services Circular”), dated May 12, 2026, issued under regulation 34 of the CMI Regulations specifying the manner in which implementation services may be provided by the Investment Advisers registered under the CMI Regulations. In this regard, it is hereby clarified that the Implementation Services Circular shall not apply to a Fund Management Entity providing advisory services. A copy of this circular is available on the website of the International Financial Services Centres Authority at www.ifsca.gov.in .