Mandating Legal Entity Identifier (LEI) for all non – individual Foreign Portfolio Investors (FPIs)
Summary
SEBI mandates the Legal Entity Identifier (LEI) for all non-individual Foreign Portfolio Investors to enhance financial data accuracy. Existing FPIs must provide their LEI within 180 days of the circular's issuance, or face account blocking for purchases. Fresh registrations and accounts with expired LEIs are also subject to strict compliance requirements.
Text
The Legal Entity Identifier (LEI) code is a unique global 20-character code to identify legally distinct entities that engage in financial transactions.
It has now been decided to mandate the requirement of providing LEI details for all non-individual FPIs.
All existing FPIs... shall do so within 180 days from the date of issuance of this circular, failing which their account shall be blocked for further purchases until LEI is provided.
All fresh registration, subsequent to issuance of this circular, shall be carried out upon receipt of the FPIs’ respective LEI details.
FPIs are required to ensure that their LEI is active at all times. Accounts of FPIs whose LEI code has expired / lapsed shall be blocked for further purchases...
This circular shall come into force with immediate effect.
This Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulations 3 (2), 22 (1) (j) and 44 of SEBI (FPI) Regulations, 2019.
Source: SecMarx — Mandating Legal Entity Identifier (LEI) for all non – individual Foreign Portfolio Investors (FPIs). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.