Sebi board approves easing additional disclosure norms for FPIs
Sebi) on Friday approved a proposal to exempt additional disclosure requirements for FPIs (foreign portfolio investors) having over 50% of their India equity AUM in a single corporate group if certain conditions are met.
The relaxations in certain disclosure norms are aimed at ease of doing business.
Further, the market regulator has also approved a Beta version of optional T+0 settlement, for a limited set of 25 scrips, and with a limited set of brokers. The optional settlement will be rolled out from March 28.
Last month, the capital market regulator had floated a consultation paper, seeking comments on its proposal to ease additional disclosure requirements for foreign portfolio investors.
The market regulator said that as long as the composite holdings of all such FPIs in the apex company in the group is less than 3% of the total equity share capital of the company, it would be exempted from the additional disclosure requirements.
In August last year, Sebi had mandated FPIs to disclose detailed information about entities holding any ownership, economic interest, or control in them, without any threshold. However, many FPIs made representations to the regulator, seeking certain relaxations in disclosure requirements.
In a board meet on Friday, Sebi has also approved to relax the timelines for disclosure of material changes by FPIs. Currently, FPIs must disclose to their DDP, material changes to information provided earlier, within seven working days.
Further, the regulator has given nod to providing
