SEBI Amends FPI Norms | Introduces 30-Day Grace Period for Late Registration Fee Payment
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- Last Updated on 5 June, 2024
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Notification No. SEBI/LAD-NRO/GN/2024/183; Dated: 31.05.2024
SEBI has notified the SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2024. New sub-regulations have been inserted to Regulation 7, i.e., certificate of registration. It states that a foreign portfolio investor (FPI) must pay the registration fees as provided in Part A of the Second Schedule for every block of 3 years before the beginning of such a block. However, registration fees shall be considered paid if the FPI pays the fee along with the late fee within 30 days from the expiry of the preceding block.
Further, if the FPI does not pay the required registration fee and the late fee as may be applicable and continues to hold securities or derivatives in India, it must be allowed to sell such securities or wind up its open position in derivatives in India within 360 days from the date of expiry of 30 days and in such manner as may be specified by the Board.
Click Here To Read The Full Notification
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