The India International Financial Services Centres Authority (IFSCA) issued a warning order to Neo Asset Management Private Limited (IFSC Branch) for failures to comply with requirements under the IFSCA (Fund Management) Regulations, 2022, and cautioned that any repeat violations will be treated as a serious concern and may lead to stringent action. The non-compliances cited relate to Regulation 7(4) and Regulation 10(1) of the IFSCA (Fund Management) Regulations, 2022. The warning was issued under Regulation 143 of those regulations, read with Sections 12 and 13 of the IFSCA Act, 2019 and Section 11B of the Securities and Exchange Board of India Act. The full text of the order is published on the IFSCA website.
India International Financial Services Centres Authority 2025-05-07
India International Financial Services Centres Authority issues warning to Neo Asset Management IFSC branch for Fund Management Regulations breaches
The India International Financial Services Centres Authority issued a warning to Neo Asset Management Private Limited (IFSC Branch) for non-compliance with the IFSCA (Fund Management) Regulations, 2022. Violations pertain to Regulation 7(4) and Regulation 10(1), with potential for stringent action upon repeat offenses. The order is available on the IFSCA website.