Common Application Form for Foreign Portfolio Investors
Summary
The Securities and Exchange Board of India (SEBI) issued a circular on February 4, 2020, regarding the Common Application Form (CAF) for Foreign Portfolio Investors. The Government of India notified the CAF to facilitate FPI registration with SEBI, PAN allotment, and KYC procedures for bank and demat accounts. Intermediaries are permitted to rely on the CAF information for KYC purposes while applicants must submit the form along with supporting documents and fees.
Text
The Government of India vide notification number F. No. 4/15/2016-ECB dated January 27, 2020 notified the Common Application Form (CAF) for the purpose of (a) registration of Foreign Portfolio Investors (FPIs) with Securities and Exchange Board of India, (b) allotment of Permanent Account Number (PAN) and (c) carrying out of Know Your Customer (KYC) for opening of Bank & Demat Account.
The applicants seeking FPI registration shall be required to duly fill CAF and ‘Annexure to CAF’ and provide supporting documents and applicable fees for SEBI registration and issuance of PAN. The other intermediaries dealing with FPIs may rely on the information in CAF for the purpose of KYC.
DDP may continue to accept in–transit FPI registration applications, for a period of 60 days from date of issuance of this Circular, received in the form prescribed in operational guidelines issued on November 05, 2019.
This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and Sub-rule 14(i) of Rule 9 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
A copy of this circular is available at the web page “Circulars” on our website www.sebi.gov.in. Custodians are requested to bring the contents of this circular to the notice of their FPI clients.
Source: SecMarx — Common Application Form for Foreign Portfolio Investors. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.