New Delhi: Easing the regulatory framework for foreign portfolio investors, SEBI has simplified KYC requirements for them and permitted them to carry out off-market transfer of securities.
Besides, the regulator has broad-based the classification for foreign portfolio investors (FPIs) and simplified their registration process.
The notification comes after the board of SEBI in August approved a proposal to simplify the regulatory norms for FPIs.
The new regulations have been redrafted based on the recommendation of a committee headed by former RBI Deputy Governor HR Khan.
Under the new framework, FPIs would be classified into two categories instead of three. At present, SEBI has classified FPIs into three categories with the easier compliance norms for Category-I FPIs and the strictest for Category-III FPIs. The most well-regulated FPIs come under Category-I.
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