Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 3.5
Article rating: 5.0
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 5.0
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 5.0
RSS

News

Sebi to take holistic view on FPI matter; panel meets stakeholders

Author: PTI/Thursday, September 6, 2018/Categories: Regulatory

Sebi to take holistic view on FPI matter; panel meets stakeholders

New Delhi - Amid concerns among some FPI groups, markets regulator Sebi has said it will review the proposed new norms for foreign investors and take a holistic view after taking into account views of all stakeholders, including the government.

The regulator has already constituted a working group headed by former RBI Deputy Governor H R Khan to look into the various issues raised by foreign portfolio investors (FPIs), including those about Know Your Client (KYC) requirements and disclosures about beneficial ownership.

In a statement, Sebi said that the working group has heard various stakeholders, held consultations and is in the process of giving its recommendations. The ministry of finance has also been consulted on this.

"Based on these inputs, Sebi would review the matter and shortly take a holistic view," it added.

Sources said that the Khan committee met Wednesday with various stakeholders.

The proposed regulatory move, for which Sebi recently extended the deadline till December, aims to check any possible re-routing of funds of Indians and NRIs through overseas locations such as Mauritius, Singapore and Dubai, sources added.

The market regulator Tuesday said it is "preposterous and highly irresponsible" to claim that USD 75 billion will move out of India because of because of Sebi's circular issued in April 2018.

Some FPIs are believed to have earlier expressed concerns over the proposed changes in rules, for which Sebi has already granted more time.

However, a lobby group named AMRI (Asset Management Roundtable of India) said on Monday that the immediate impact of the new norms, if not amended, would be that USD 75-billion investment managed by overseas citizens of India (OCIs), persons of Indian origin (PIOs) and non-resident Indians (NRIs) will be disqualified from investing into India, and the funds will have to be withdrawn and liquidated within a short time-frame.

The organisation also warned that it would have severe impact on stocks and rupee.

The market regulator, in April, had asked Category II and III FPIs to provide list of their beneficial owner (BO) in a prescribed format within six months.

It had, however, extended the deadline by two months till December for providing a list of beneficial owners, and assured them that issues raised will be looked into by an expert panel.

The decision came after Sebi received representations from market participants, seeking review and additional time for complying with the guidelines.

Print Rate this article:
No rating

Number of views (321)/Comments (0)

rajyashree guha

PTI

Other posts by PTI
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free