Sebi approves new KYC norms for foreign portfolio investors, revised settlement mechanism

Markets regulator Sebi Tuesday approved a slew of proposals, including revised framework for settlement of cases and new KYC norms for foreign portfolio investors.

The proposals were cleared by the board of Sebi at its meeting here.

Sebi Chairman Ajay Tyagi said the board has approved new KYC norms for foreign portfolio investors and fresh guidelines would be issued soon.

The watchdog has approved a proposal to allow foreign investors to trade in commodity derivatives market, except for sensitive commodities, as well as common application form for the registration of FPIs in the domestic markets, Tyagi told reporters here after the board meeting.

The board has given its nod for amending delisting regulations. Further, inter-operability of clearing houses for commodities and new methodology to calculate the total expenses ratio for fund managers have been cleared.