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Informist, Tuesday, Sep 24, 2024

 

--SEBI floats consultation paper on easing FPI registration norms

--SEBI issues consultation paper to simplify registration for FPIs

--SEBI seeks comments by Oct 15 on easing registration norms for FPIs

 

MUMBAI – The Securities and Exchange Board of India today, in a consultation paper, proposed that certain foreign portfolio investors seeking registration be permitted to on-board by filling only an abridged version of the common application form. Comments from market participants have been invited by the securities market regulator on the proposal by Oct 15.

 

For this, only a few types of FPIs will be eligible, according to the proposal. It will cover FPI applications by sub-funds of a master fund where the master fund or one of the master fund's sub-fund is already registered with SEBI. Sub-funds of a fund with separate classes of shares or equivalent structure with segregated portfolio where the latter is already registered as an FPI with SEBI will also be exempt from filling out the full common application form.

 

Further, the ease in registration will also apply to an FPI applicant if it is a scheme of an insurance company where either the parent insurance company or one of its other scheme is already registered as an FPI with the SEBI. The final type of FPIs eligible for the registration ease benefit will be an applicant which is one of the funds of an investment manager where the latter or one of its other funds is already registered.

 

All FPI applicants have to fill out the common application form and this is captured in a module with the depositories. The SEBI paper proposed that the abridged version of this form contain only unique fields which will mean reduced number of pages to sign. This, according to SEBI, will help save time and efforts of the FPI applicants.  End

 

Reported by Rajesh Gajra

Edited by Akul Nishant Akhoury

 

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