The International Financial Services Centres Authority (IFSCA) has clarified its 'liquid net worth' requirements for capital market intermediaries. Following broker concerns about ambiguity in the September 2025 net worth revisions, the IFSCA issued a circular on December 30, 2025, standardizing the calculation of usable capital. This clarification aims to ensure intermediaries can deploy capital during market stress by defining specific included assets like cash and government securities, while excluding illiquid items such as fixed assets and long-term investments.