Permitted and restricted product disclosure
The broad categories of products that may be accessed through Jaypee IFSC's Global Access arrangements, and those that are restricted.
Purpose
Jaypee Capital Services IFSC Private Limited ("Jaypee IFSC" or the "Company"), in its capacity as a Global Access Provider ("GAP") facilitates access to financial products listed on stock exchanges in foreign jurisdictions, subject to the applicable regulatory framework and requirements prescribed by the International Financial Services Centres Authority ("IFSCA").
This disclosure sets out the broad categories of products that may be accessed through the Company's Global Access arrangements and the products or instruments that are restricted from being offered or accessed through such arrangements.
Permitted products
Through its Global Access arrangements, Jaypee IFSC may provide access to products or instruments listed on stock exchanges in foreign jurisdictions only to the extent that such products or instruments qualify as "financial products" under the applicable regulatory framework in the IFSC.
The availability of any particular product shall also be subject to applicable laws, regulatory requirements, jurisdictional restrictions, client eligibility, and the terms and conditions applicable to the relevant Global Access arrangement.
Accordingly, the fact that a product is listed or traded on a foreign stock exchange shall not, by itself, mean that such product is available for access through Jaypee IFSC.
Restricted products
Jaypee IFSC shall not provide access through its Global Access arrangements to products or instruments that are not permitted under the applicable regulatory framework. Without limitation, the following categories shall be restricted:
a. Crypto-related products
Jaypee IFSC shall not provide access to:
- crypto-assets or cryptocurrencies;
- instruments having crypto-assets or crypto as the underlying asset;
- crypto tokens;
- crypto-linked exchange traded funds or similar products;
- crypto-related derivatives; and
- any other product or instrument which is not recognised as a permitted "financial product" under the applicable IFSC framework.
b. Products available on recognised stock exchanges in the IFSC
Jaypee IFSC shall not provide access through Global Access arrangements to index derivatives, single-stock derivatives, bond derivatives and USD-INR / INR-USD derivatives, where such products are available for trading on recognised stock exchanges in the IFSC.
c. Products not permitted for the relevant client
Jaypee IFSC will not provide access to a product if the applicable laws or regulations do not permit the particular client to access or invest in that product.
For client's resident in India, access will be provided only to products permitted under the applicable FEMA rules and regulations and, where applicable, the Liberalised Remittance Scheme (LRS).
Product-level controls
Jaypee IFSC shall maintain appropriate systems and controls to identify and restrict access to products that are not permitted under the Global Access framework.
Product availability may be reviewed and restricted from time to time based on:
- applicable regulatory requirements;
- changes in the regulatory status or classification of a product;
- restrictions applicable to particular jurisdictions or categories of clients;
- changes in the products available on recognised stock exchanges in the IFSC; or
- any direction, clarification or requirement issued by the competent authority.
Client acknowledgement
Clients shall be responsible for reviewing the nature of the products accessed through the Global Access arrangement and complying with the applicable laws and regulations.
Access to any product through Jaypee IFSC does not mean that Jaypee IFSC recommends or endorses the product or considers it suitable for the client. The client is responsible for making their own investment decision after understanding the product and its associated risks.
Jaypee IFSC reserves the right to restrict, suspend or reject access to any product or transaction where it determines that such product or transaction is not permitted under the applicable regulatory framework or where the necessary regulatory, legal or internal controls cannot be satisfied.
Regulatory compliance
This Disclosure shall be read together with the applicable laws, regulations, circulars, directions and guidelines issued by IFSCA from time to time.
In the event of any change in the applicable regulatory framework, the Company shall modify its product access controls and this Disclosure, as may be required.