Know Your Client (KYC) Requirements for Foreign Portfolio Investors (FPIs)
SEBI has received representations from some market participants in relation to the circular, inter-alia, seeking review and additional time for complying with the said circular.
In this regard, stakeholders may note that there is already a working group under the Chairmanship of Shri H.R. Khan, Deputy Governor (Retired), Reserve Bank of India with the following terms of reference:-
- To advise SEBI on redrafting the FPI Regulations for simplification.
- To advise SEBI on incorporating the provisions contained in the circulars, FAQs and Operational Guidelines issued by SEBI concerning FPIs, in the regulations itself, to the extent possible.
- To advise on any other issue relevant to Foreign Portfolio Investors.