 "In relief for FPIs, Sebi announces revised KYC norms, eligibility process")
Providing relief to foreign portfolio investors, Sebi on Friday came out with revised Know Your client (KYC) norms as well as eligibility conditions for such entities.
Certain categories of FPIs would be required to maintain a list of beneficial owners and provide the same to the regulator.
"Category II and III FPIs registered prior to this circular (existing FPIs) should provide the list of BOs and applicable KYC documentation within six months," Sebi said in a circular.
The categorisation of FPIs is based on their risk profile.
The norms have been finalised after taking into consideration suggestions from a panel headed by former RBI Deputy Governor H R Khan and comments from the public.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app