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IFSC: Sebi amends guidelines for eligible foreign investors

Press Trust of India  |  New Delhi 

Markets regulator today amended the guidelines for eligible foreign investors looking to operate at the International Financial Services Centre (IFSC).

Now, a trading member of a stock exchange in the IFSC can carry out the due diligence for an eligible foreign investor (EFI), who is not registered with the regulator as a Foreign Portfolio Investor (FPI). The provision has been made for the account opening process of an EFI.


said the 'guidelines for participation/ functioning of EFIs and FPIs in IFSC' have been amended after discussions with various market participants.

"In case of participation of an EFI, not registered with as an FPI, but desirous of operating in IFSC, a trading member of the recognised stock exchange in IFSC may carry out the due diligence on its own or it may rely upon the due diligence carried out by a bank, which is permitted by RBI to operate in IFSC, during the account opening process of an EFI," said in a circular.

An IFSC is functioning in Gujarat.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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