‘Hello, Sebi here’: FPI reps on speed dial
Capital markets regulator Securities and Exchange Board of India (Sebi) has embarked upon a drive to improve the transparency standards of foreign portfolio investors (FPIs) investing in domestic equities. Last week, it amended the Sebi (FPI) Regulations, imposing stricter timelines of just seven working days for furnishing vital information by overseas funds. Sebi also gained more power-specific documents from FPIs in the manner it wants. Sources say of late, officials at Sebi have also been directly calling custodians and other FPI representatives to fill information gaps. “Earlier, the regulator used to communicate through emails. Now, it is calling up FPIs directly,” observes a person in the know.
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