SEBI amends FPI norms; inserts new regulation 43B to grant relaxations from strict enforcement of certain regulations
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- Last Updated on 17 January, 2022
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NOTIFICATION NO. SEBI/LAD-NRO/GN/2022/64 Dated 14-01-2022
The SEBI has made amendments to the SEBI (Foreign Portfolio Investors) Regulations, 2019 (“FPI Regulations”). A new Regulation 43B has been inserted into the FPI regulations which allow the Board to grant relaxation from strict enforcement of any of the provisions of these regulations, if the Board is satisfied that: (a) non-compliance is caused due to factors beyond the control of entity; or (b) the requirement is procedural or technical in nature. It further provides that application seeking relaxation u/s 43B must be accompanied by a non-refundable fee of USD 1,000 payable by way of NEFT/ RTGS/ IMPS or any other mode allowed by the Reserve Bank of India in the designated bank account of the Board.
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