The Securities and Exchange Board of India (“SEBI”) has published an Interim Report on ‘Know Your Client Requirements for Foreign Portfolio Investors (FPIs)’, submitted by a working group to redraft the SEBI (Foreign Portfolio Investors) Regulations, 2014 (“FPI Regulations”). SEBI through a press note PR No.:38/2018 dated September 08, 2018, has invited public comments on the Interim report within 12 PM, September 17, 2018.
The working group examined the issues arising out of the SEBI Circular dated April 10, 2018 on ‘KYC requirements for FPIs to be submitted’ and have released certain recommendations on the same, which relates to:
- Non-Resident Indians (NRIs) / Overseas Citizens of India (OCIs) / Resident Indians (RIs)
- Clubbing of Investment limit
- Identification and verification of Beneficial Owners
- Other aspects
SEBI has called for comments, if any on the recommendations contained in the Interim report, which may be addressed to Achal Singh Deputy General Manager, Division of Foreign Portfolio Investors & Custodians, Securities and Exchange Board of India as SEBI Bhavan, Plot No. C4-A, “G” Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051 or by e-mail to kycforfpi@sebi.gov.in in the format.
Source: Securities and Exchange Board of India
