Gujarat National Law University (GNLU) under the aegis of International Financial Services Centres Authority (IFSCA)

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Gujarat National Law University (GNLU) under the aegis of International Financial Services Centres Authority (IFSCA)

About IFSCA

The International Financial Services Centres Authority (IFSCA) has been established as a statutory regulatory authority by the Government of India. The IFSCA came into being after the enactment of the International Financial Services Centres Act, 2019 (Act). The Act has empowered the IFSCA with the powers of RBI, SEBI, IRDAI and PFRDA in order to develop and regulate the financial services, financial products and financial institutions in the International Financial Services Centres.

About GNLU:

Gujarat National Law University (GNLU), Gandhinagar, is one of the premier national law universities of India. GNLU aims to advance and disseminate learning and knowledge of the law and legal processes and their role in national development. GNLU offers interdisciplinary legal courses in all five streams namely BALLB, BComLLB, BScLLB, BSWLLB and BBA LLB, LLM, PhD program in law & interdisciplinary fields and Foreign Law and Languages Programs.

GNLU is emerging as the Research-Based Teaching University, with a concerted focus on interdisciplinary research, a strong publications base, training and extension programs for policy-makers and executives across the nation and the world. It is a matter of satisfaction that the GNLU has been recognized by the University Grants Commission (UGC), the apex education body of India, for its model legal university nature in terms of access, equity, relevance and high standards in 2011. GNLU is ranked 6th best Law University in India by The National Institutional Ranking Framework ( NIRF).

About the Course:

The commercial dialogue among the business entities is incomplete without financial communications. The role of law specifically the financial market (laws and regulations) are significant to regulate the financial activities of the business entities in the financial market. Since 1991, with the liberalised economic policy (Indian Budget 1991-92), the country has seen the opening up of the financial sectors and SEBI got the power to regulate the capital market. In the 30 years of liberalisation, the activities of the financial sector are governed by multiple regulators.

The current practice of business and commercial law shows the expansion of the boundaries of the financial market activities. The classic example is the establishment of the GIFT-IFSC and the International Financial Services Centres Authority (IFSCA). The IFSCA Act, 2019 has given a new dimension to the financial sector activities with the establishment of the IFSCA as an unified financial regulator conferred with the powers of SEBI, RBI, PFRDA, and IRDAI to regulate the financial services market in the International Financial Services Centre/s.

This course is designed to cover the legal and regulatory frameworks related to the financial sector market and financial services market in the International financial services centres. The participants will have a thorough legal understanding of the practice and procedure related to financial markets and financial services within the boundaries of the legal and regulatory frameworks.

Objectives and Learning Outcomes: This course will equip the participants to

  • Comprehend the legal and regulatory framework of Financial Markets (Laws and Regulations) including the IFSCs and IFSCA.
  • Critically understand the concepts and principles related to Securities Market, Banking Sector, Insurance Sector, Pension sector, and Money market.
  • Have an understanding of the role, power and functions of the Regulators: RBI, MCA, SEBI, PFRDA, IRDAI, IFSCA etc.
  • Have basic knowledge about the International Financial Services Centres Authority (IFSCA) including the GIFT-IFSC and International Regulators.

Scheme & Duration of the Course

  • 4 (Four) Months
  • Total Number of Teaching Sessions: 60 (Teaching, Evaluation, Field Visits & Workshop {4 sessions in a week (Friday & Saturday)}
  • Timings: 4 pm – 6 pm
  • The Duration of the course will be for 4 months with a total number of 60 sessions.
  • The Certificate cour se will commence from 6th December 2021 to 5th April 2022
  • Four sessions will be conducted in a week preferably on Friday and Saturday (4 pm – 6 pm). The mode of teaching will be mostly online and few sessions with offline mode depending upon the COVID situation. The willing participants will be provided the accommodation in the GNLU Campus on payment basis. The course includes one workshop/seminar.

The Certificate Course Covers

  • Financial Market: Evolution and Development
  • Financial Market (Laws and Regulations): Pre 1991and 1991 to 2021 (SEBI Act, FEMA)
  • Expert Committees for Financial Market Reformation (Financial Sector Legislative Reforms Committee under the chairmanship of Hon’ble Justice B N Srikrishna, 2011)
  • Financial Market: Securities Market, Banking Sector, Insurance Sector, Pension Funds, Money market etc.
  • Introduction to Financial Services Market, IFSC and IFSCA (Legal and Regulatory Framework )
  • Financial Market Regulators: RBI, MCA, SEBI,PFRDA, IRDAI, IFSCA etc.
  • The International Financial Services Centres Authority Act, 2019: An Overview
  • IFSC : Transaction and Laws
  • Securities Market: Laws and Regulations
  • Powers and Functions SEBI and IFSCA (GIFT-IFSC)
  • Securities Market (Lawsand Regulations): InternationalPractices in selected jurisdictions (U.S. A, U.K and Singapore)
  • Banking Sector: Laws and Regulations
  • Powers and Functions RBI and IFSCA (GIFT-IFSC)
  • Banking Law and Practice : International practices in selected jurisdictions (U.S.A and European Union )
  • Insurance Sector: Laws and Regulations
  • Insurance Laws and Practice: International Approach (Selected Jurisdictions U.K , EU Countries)
  • Powers and Functions IRDAI and IFSCA (GIFT-IFSC)
  • Pension sector: Laws and Regulations
  • Powers and Functions of PFRDA and IFSCA (GIFTIFSC)
  • Introduction to International Financial Market
  • International Organisations including the International Financial Services Centres and Regulators

Eligible Participants

  • Students (Graduates and Post Graduates in Law, Economics, Finance, Commerce), Scholars, Chartered Accountants, Cost Accountants, Advocates, Academicians, officers from Central & State Governments and other statutory authority/bodies, etc.
  • No of Seats: 50 (Fifty)
  • Fee Structure:
  • For Students – Rs. 5000/-
  • For Professionals – Rs. 10,000/-
  • Fee Payment Link: The Payment link will be provided to the selected participants for making payment.

Teaching Methodology (Not limited to the following)

  • Both online and offline (Depending upon the COVID situation)
  • Analytical Method
  • Case Analysis Method
  • Power Point Presentation Method
  • Group Discussion and Participation method (including internal seminars)
  • Documentary and Video Screening (if necessary)
  • Note: Reference and Reading materials will be provided

Resource Persons

  • Experts from Regulators
  • Academicians
  • Practitioners
  • Industry Experts
  • International Experts
  • Teaching Methodology (Not limited to the following)
  • Both online and offline (Depending upon the COVID situation)
  • Analytical Method
  • Case Analysis Method
  • Power Point Presentation Method
  • Group Discussion and Participation method (including internal seminars)
  • Documentary and Video Screening (if necessary)
  • Note: Reference and Reading materials will be provided

How to Apply ?

  • The interested participants are required to register through the Google form in the provided link and to send a copy of their CV to the below mentioned email Id.
  • In case of problem in google form link, you can send email with your CV to [email protected]
  • Email ID: [email protected]
  • The Payment link will be provided to the selected participants for making payment.

Scheme of the Evaluation

  • The participants will be evaluated for 100 marks.
  • The evaluation criteria is as follows:
  • Evaluation 1: MCQ Test: 50 marks
  • Evaluation 2: Research Assignment: 50 marks
  • Grading Scheme:
  • Grade O: 75% and above
  • Grade A: 65 to 75 %
  • Grade B: 60 to 65 %
  • Grade C: 50 to 60
  • Grade D: Fail

Important Dates

  • Last date for submission of application through Google form link and submission of CV: 25th November 2021
  • Note: The selection process will be on First Come First Serve Basis. The link may be closed, if sufficient number of applications will be received from the eligible applicants before the last submission date i.e. 25th November 2021
  • Announcement of First List of Shortlisted Participants: 21st November 2021
  • Date of Payment: On or before 24th November 2021
  • Announcement of Second List of Shortlisted Participants: 27th November 2021
  • Date of Payment: On or before 1st December 2021
  • Inauguration of the Course and Expert Talk by Shri Injeti Srinivas, Chairman, IFSCA on IFSCA Act 2019 (IFSC & IFSCA) : 6th December 2021
  • Orientation Dates : 7th & 8th December 2021

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Keywords

Gujarat National Law University , International Financial Services Centres Authority, Gujarat National Law University (GNLU), Gandhinagar


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