Sebi trains guns on Greater China, wants beneficial owners of FPIs named

The Securities and Exchange Board of India  (Sebi) shot off another letter to custodians on Tuesday, asking them to separately identify foreign portfolio investors having beneficial owners from mainland China, Hong Kong, and Taiwan. 

The regulator has spelt out that beneficial owners need to be identified on the basis of ownership, control, and senior managing official (SMO). Custodians have also been told to notify the regulator on any change in information that was previously provided.  

This is the fourth such communication from the market regulator to the designated depository participants/custodians in a month.