The paper proposes, permitting OBPPs to offer products or securities regulated by the International Financial Services Centres Authority (IFSCA), subject to compliance with applicable foreign exchange laws and guidelines. It also proposes allowing OBPPs to offer tax-saving bonds issued under relevant provisions of the Income Tax Act, along with mandatory disclosures regarding their features and disclaimers on grievance redressal. It also recommends aligning the requirement for appointment of compliance officers for OBPPs with that applicable to stock brokers, thereby removing the mandatory requirement of appointing only a Company Secretary. The feedback/ comments from the stakeholders are invited.
