Live
- Stage set for counting of votes for Jharkhand Assembly elections
- MLA Sri Ganesh Engages ASHA Workers and Resource Persons in Caste Census Meeting
- Supreme Court verdict on validity of Preamble modification in 1976 likely on November 25
- ‘Zebra’ movie review: A gripping tale of banking fraud and redemption
- Saurabh Netravalkar, Unmukt Chand, Dwayne Smith and Rahkeem Cornwall headline USPL
- NPP asks members not to attend meeting called by Biren govt
- Bulls roar on Dalal Street, Sensex and Nifty up over 2 pc
- Over 880,000 people displaced in Lebanon, food security deteriorates: UN
- BGT 2024-25: Bumrah picks 4-17 as Australia trail India by 83 runs in 17-wicket day
- Calcutta High Court stays order on demolition of hotels in Bengal’s Mandarmani
Sebi eases regulatory norms for FPIs
Easing the regulatory framework for foreign portfolio investors, Sebi on Wednesday simplified KYC requirements for them and permitted them to carry out off-market transfer of securities.
Mumbai: Easing the regulatory framework for foreign portfolio investors, Sebi on Wednesday simplified KYC requirements for them and permitted them to carry out off-market transfer of securities.
The proposals were cleared by the Sebi's board during its meeting here as part of efforts to simplify and expedite the registration process for foreign portfolio investors (FPIs). Apart from doing away with the broad-based eligibility criteria for institutional FPIs, under the new framework, FPIs would be classified into two categories instead of three.
"Documentation requirements for KYC have been simplified," Sebi said in a release after the board meeting. FPI regulations have been redrafted based on the recommendation of a committee headed by former RBI deputy governor H R Khan.
The requirements for issuance and subscription of offshore derivative instruments (ODIs) have also been rationalised. Offshore funds floated by mutual funds would be allowed to invest in the country after registration as FPIs. Among others, entities established in the International Financial Services Centre (IFSC) would be deemed to have met the criteria for FPIs.
"FPIs shall be permitted for off-market transfer of securities which are unlisted, suspended or illiquid, to a domestic or foreign investor," the release said. Besides, registration for multiple investment manager (MIM) structures has been simplified.
To attract more overseas funds into the market, central banks that are not members of the Bank for International Settlements would be eligible for registration as FPIs.
