SEBI simplifies onboarding process for Foreign Portfolio Investors
- Blog|News|Company Law|
- < 1 minute
- By Taxmann
- |
- Last Updated on 29 March, 2023
Latest from Taxmann
Circular No. SEBI/HO/AFD/P/CIR/2023/043, dated: 27.03.2023
Earlier, the SEBI vide circular no. SEBI/HO/AFD-2/CIR/P/2022/175, Dated December 19, 2022 had issued a Master Circular for ‘Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors’.
Now, the SEBI has modified the norms regarding the onboarding process for Foreign Portfolio Investors (FPIs) to simplify the process and reduce the time taken for granting registration and opening of demat, trading and bank accounts.
FPIs can now use digital signatures for the purpose of execution of the Common Application Form (CAF) and other registration-related documents.
Also, certified copies of original documents by authorized bank officials through SWIFT mechanism may now be accepted by DDPs/ Custodians for the purpose of verification of documents.
For operational convenience, the SEBI has specified that in case an FPI applicant belonging to an existing FPI investor group may submit its unique FPI investor group ID in the CAF, instead of providing complete details of all group constituents. In case, the applicant wants to club additional FPIs in the unique investor group ID, the FPI may only provide details of such additional FPIs, along with the investor group ID.
Click Here To Read The Full Circular
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
