The International Financial Services Centres Authority (IFSCA) has formed a 15-member committee of experts to lay a long-term plan for the orderly growth and development of the fund management industry.
Additionally, the committee is expected to advise IFSCA on new products or services, untoward market practices.
IFSCA, which is the regulatory body for the International Financial Services Centre (IFSC), said that the committee would be chaired by N S Vishwanathan, Former Deputy Governor of Reserve Bank of India, according to a statement issued on Wednesday.
Other members of the committee include -- Sebi's former Whole Time Member Ananta Barua, HDFC Asset Management Company Managing Director and Chief Executive Officer Navneet Munot, MD and CEO of Aditya Birla Sun Life AMC A Balasubramanian, and True Beacon and Zerodha Co-Founder Nikhil Kamath.
MD and CEO of National Investment and Infrastructure Fund (NIIF) Rajiv Dhar, Kedaara Capital Investment Managers founder and Managing Partner Manish Kejriwal, Catamaran Ventures MD & chairman Ranganath, Kotak Alternate Asset Managers MD and CEO Srini Sriniwasan, and Waterfield Advisors Founder and CEO Soumya Rajan are the other members of the committee.
The panel has been entrusted with the task of advising IFSCA on benchmarking IFSCA (Fund Management) rules and other policies with highly ranked global financial centre and suggesting any issues which need to be taken up with other regulators or government departments for the development of the fund management industry.
Further, it would suggest IFSCA on any malpractice, which requires regulatory intervention or attention.