New Delhi, Oct. 27 -- The International Financial Services Centres Authority (IFSCA) has issued a consultation paper seeking public comments on its proposal to make the dematerialization of securities mandatory for entities operating in the International Financial Services Centre (IFSC) jurisdiction. The move is aimed at strengthening regulatory coherence and simplifying market infrastructure within GIFT City.

According to the consultation paper sourced from IFSCA, the proposal requires entities established in the IFSC to obtain International Securities Identification Numbers (ISINs) from depositories registered with the IFSCA, rather than from domestic depositories. The paper notes that some companies in the IFSC still use domestic depo...