SEBI comes up with paper on proposals to improve ease of doing business with respect to additional disclosure framework for FPIs

The Securities Exchange Board of India or SEBI has come up with a consultation paper on proposals to improve ease of doing business with respect to the additional disclosure framework for FPIs. The first proposal is to exempt Category I University Funds and University related Endowments FPI that meet certain objective criteria from the requirement of enhanced disclosures. The second proposal is to exempt enhanced reporting requirements for some funds with concentrated holdings in entities with no identified promoter group, where there is no risk of breach of Minimum Public Shareholding (MPS). SEBI has called public comments on the proposal to keep the companies with no identified promoter and low holdings of identified FPIs, outside the scope of the granular disclosure framework. It has also asked the public if it agrees with the proposal to keep the threshold at 3% for holdings by identified FPIs in such companies.

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