Operational Guidelines for FPIs & DDPs under SEBI (Foreign Portfolio Investors) Regulations, 2019 and for Eligible Foreign Investors
Summary
This circular issues operational guidelines for Foreign Portfolio Investors and Designated Depository Participants under the SEBI (Foreign Portfolio Investors) Regulations, 2019. It mandates an efficient transition from the previous 2014 regulations by withdrawing all existing circulars and guidance notes. The document is issued under Section 11(1) of the SEBI Act, 1992, to ensure compliance with the newly notified regulations effective September 23, 2019.
Text
SEBI (Foreign Portfolio Investors) Regulations, 2019 have been notified and have come into force with effect from September 23, 2019.
In order to operationalise the Regulations, it has been decided to issue necessary guidance under regulation 44 of the Regulations to ensure efficient transition from SEBI (Foreign Portfolio Investors) Regulations, 2014.
The guidance is being issued in form of the Operational Guidelines which are annexed herewith.
The existing Circulars, FAQs, operating guidelines, other guidance issued by SEBI from time to time shall stand withdrawn with the issuance of the Operational Guidelines.
This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992.
Custodians are requested to bring the contents of this circular to the notice of their FPI clients.
Source: SecMarx — Operational Guidelines for FPIs & DDPs under SEBI (Foreign Portfolio Investors) Regulations, 2019 and for Eligible Foreign Investors. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.