Two separate regulatory notes put out on Wednesday have assuaged concerns over a new norm that could have ended up questioning the autonomy exercised by the International Financial Services Centres Authority (IFSCA), a unified regulator, over GIFT IFSC entities. An FAQ issued on Wednesday has clarified that regulated entities operating out of GIFT IFSC will be required to file their Foreign Liabilities and Assets (FLA) return with the IFSCA, instead of with the Reserve Bank of India (RBI). Similarly, subsidiaries of foreign entities set up in GIFT IFSC will also have to file their FLA returns with the IFSCA.