Khabarindiaonline: Securities and Exchange Board of India, SEBI has issued revised Know Your client (KYC) norms, providing relief to foreign portfolio investors, FPI.
Under new norms residents as well as non-resident Indians have been permitted to hold a non-controlling stake in such entities.
There will also be no restriction on them to manage non investing FPIs, SEBI registered offshore funds as well as registered investment managers.
Certain categories of FPIs would be required to maintain a list of beneficial owners and provide the same to the regulator.
SEBI said the norms have been finalised after taking into consideration suggestions from a panel headed by former RBI Deputy Governor and comments from the public. ( Source: AIRN ).