International Financial Services Centres Authority Recognises ICSI Guiding Principles on Stewardship
The IFSCA has formally acknowledged the ICSI Guiding Principles on Stewardship, now enabling their adoption by Fund Managers and Institutional Investors that operate in IFSC.
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The Institute of Company Secretaries of India (ICSI) has announced that the International Financial Services Centres Authority (IFSCA) has officially recognised the ICSI Guiding Principles on Stewardship (IGPS).
Through a circular dated October 23, 2025, IFSCA introduced a new Framework on Stewardship Code in IFSC which is aimed at strengthening investor protection and advancing corporate governance within the international financial ecosystem.
The IFSCA circular permits regulated entities undertaking investment activities in IFSCs to either adopt the stewardship code annexed to the circular or alternatively use a code issued by any financial sector regulator in India or abroad.
In a significant development, IFSCA has included the ICSI among the recognised issuers, affirming the regulatory relevance of the ICSI Guiding Principles on Stewardship.
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This recognition from the IFSCA essentially means that fund management entities and institutional investors functioning in IFSCs can now adopt the IGPS as their stewardship framework.
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What is the IGPS?
The Guiding Principles on Stewardship, developed by ICSI is a globally relevant, principle-based model designed to promote responsible investment and strengthen the accountability of both institutional investors and service providers.
The ICSI Guiding Principles on Stewardship are designed to be both jurisdiction-neutral and sector-agnostic, offering a blend of flexibility and structure that can suit diverse regulatory environments.
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The framework is organised into two comprehensive sections: Part A, which sets out ten guiding principles for institutional investors and Part B which outlines six principles tailored for service providers such as proxy advisors, research organisations and investment consultants.
Each section also includes its own detailed reporting format to ensure clarity, accountability and transparency in the discharge and disclosure of stewardship responsibilities.
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ICSI President CS B. Narasimhan, in the preface to the IGPS stated that stewardship reflects responsible management of resources on behalf of diverse stakeholders AND underscored its position in long-term value creation, sustainability and investor confidence.
Read the ICSI Guiding Principles on Stewardship here.
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