Monthly report of FPI registration on SEBI’s website
Summary
The circular mandates the monthly dissemination of FPI registration processing statistics on SEBI's website to ensure transparency. Designated Depository Participants are required to submit application data and average processing times by the 5th working day of each month. This directive is issued under Section 11(1) of the Securities and Exchange Board of India Act, 1992.
Text
Regulation 7(2) of the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014 specifies that the designated depository participant (DDP) shall endeavor to dispose of the application for grant of certificate of registration as soon as possible but not later than thirty days after receipt of application by the DDP or, after the information called for under regulation 6 has been furnished, whichever is later.
For the purpose of transparency in the processing of applications for FPI registration, it has been decided that the average time taken by the DDPs in processing such applications be disseminated on SEBI’s website on a monthly basis.
In order to disseminate the aforesaid information on SEBI’s website, the DDPs shall provide the number of FPI applications received and the average time taken in processing the said applications during the immediate preceding month, to SEBI, by 5th working day of every month, in the following format: Name of DDP, No. of FPIs registered during the month, Average time taken for registration during the month, No. of applications pending for registration for more than 30 days of receipt of application, Reasons given regarding application(s) pending for more than 30 days.
This circular shall come into effect immediately. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992.
Source: SecMarx — Monthly report of FPI registration on SEBI’s website. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.