|
Home
Forgot password New User/ Regiser Register to get Live Demo
Streamlining the onboarding process of FPIs - SEBI - SEBI/HO/AFD/P/CIR/2023/043Extract ..... de to a Designated Depository Participant (’DDP’) in the Form and manner specified by the Government or the Board from time to time and shall be supported by the fee specified in Part A of the Second Schedule and any documents in the manner specified by the Board from time to time. 3. Accordingly, in order to ease the onboarding process of FPIs and reduce the time taken for granting registration and opening of demat, trading and bank accounts of FPIs, the following modifications to the ‘Master Circular for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors’, issued vide SEBI Circular No. SEBI/HO/AFD-2/CIR/P/2022/175 dated December 19, 2022 (hereinafter referred to as &lsquo ..... x x x x x Extracts x x x x x Streamlining the onboarding process of FPIs - SEBI x x x x x Extracts x x x x x ..... f execution of CAF and other registration related documents, provided such digital signatures are in accordance with the provisions of the Information Technology Act, 2000. c. Certification of copies of original documents by authorized bank officials using SWIFT mechanism: i. At present, copies of all documents submitted by the FPI applicants are to be accompanied with originals for verification. In case the original of any document is not produced for verification, then the copies are required to be physically attested by entities authorized for attesting the documents, as mentioned in Para 8 of Part B of the Master Circular. ii. In lieu of physical attestation, certification of copies of original documents by authorized bank officials (i. ..... x x x x x Extracts x x x x x Streamlining the onboarding process of FPIs - SEBI x x x x x Extracts x x x x x ..... lieu of providing complete details of all group constituents. In case the applicant wants to club additional FPIs (apart from itself) in such unique investor group ID, the FPI may only provide details of such additional FPIs, along with the investor group ID. 4. In addition to the aforesaid, the following provisions of the Master Circular shall stand modified as under, in order to bring consistency with the provisions of the FPI Regulations: a. The term ‘forthwith’ mentioned at paragraphs 9 (iv), 12 (iii), 14 (i) of Part A and in Annexure H of the Master Circular, shall be read as ‘as soon as possible but not later than seven working days’. b. The term ‘forthwith’ mentioned at paragraphs 14 (iii), 15 (i) ..... x x x x x Extracts x x x x x Streamlining the onboarding process of FPIs - SEBI x x x x x Extracts x x x x x
|
