Obligations of FME on inspection
Regulation 139
Obligations of FME on inspection
IFSCA (Fund Management) Regulations, 2025No change in 2026Chapter IX · Inspection and Audit
Chapter IX · Inspection and Audit
Regulation 139 – Obligations of FME on inspection
High importance about 3 min
Inspection, audit & enforcement: What happens in an IFSCA inspection, and the grounds for action against an FME.
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In plain English
On inspection, the FME and every officer, KMP, fiduciary, employee and agent must cooperate fully, furnish books and records within the time set, allow reasonable premises access, provide copies, and submit to statements being recorded.
In plain English
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The rule, in its own words
Read the exact text of Regulation 139
139. (1) Where an inspection of a FME is undertaken by the Authority, such FME and every principal officer, partner, designated partner, trustee, director, chairperson, CEO, KMPs, officer, employee and any agent, etc., of the FME shall provide all assistance and cooperate with the Inspecting Authority and shall furnish books of accounts, records and documents to the Inspecting Authority with such statements and information relating to its activities within such time as decided by the Inspecting Authority.
(2) The FME shall give all assistance as may be required in connection with the inspection and allow the Inspecting Authority to have reasonable access to its premises and extend reasonable…
Show the full text
139. (1) Where an inspection of a FME is undertaken by the Authority, such FME and every principal officer, partner, designated partner, trustee, director, chairperson, CEO, KMPs, officer, employee and any agent, etc., of the FME shall provide all assistance and cooperate with the Inspecting Authority and shall furnish books of accounts, records and documents to the Inspecting Authority with such statements and information relating to its activities within such time as decided by the Inspecting Authority.
(2) The FME shall give all assistance as may be required in connection with the inspection and allow the Inspecting Authority to have reasonable access to its premises and extend reasonable facility for examining any books of accounts, records and documents in its possession, and also provide copies of records or documents or other material which in the opinion of the inspecting authority are relevant for the purposes of the inspection.
(3) The Inspecting Authority, in the course of inspection, shall be entitled to examine or record the statements of any principal officer, partner, designated partner, trustee, director, chairperson, officer, employee and any agent of the FME (4) It shall be the duty of every principal officer, partner, designated partner, trustee, director, chairperson, CEO, KMPs, officer, employee and any agent of the FME to give to the inspecting officer all assistance in connection with the inspection, which the inspecting officer may require.
Statutory text — Principal Regulations, 2025 (as amended to 30 January 2026), consolidated where amended. The notified Gazette text prevails. Tap a highlighted word for how it functions.
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What this means in practice
Compliance actions
- Applies to
- All FME categories and their personnel
- Frequency
- Event-driven
- Evidence
- Inspection cooperation records
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Where it connects
Read alongside
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Check yourself
Quiz Centre
Test yourself on Regulation 139
3 questions in the unified bank test this regulation. Each explains every option and cites the provision.
On inspection, who must cooperate and furnish records?
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Your notes
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Inspection, audit & enforcement