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SEBI tweaks FPI norms; requires DPs to ensure that securities of prospective FPIs are free from encumbrances

May 3, 2018
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SEBI amends the SEBI (Foreign Portfolio Investors) Regulations, 2014. Amendment has been made in sub-regulation (2) in clause (d) of regulation 32 - Obligations and responsibilities of designated depository participants (DP). Now, the designated depository participant engaged by prospective FPIs shall ensure that securities held by foreign portfolio investors are free from all encumbrances. Earlier the DPs had ensure only about equity shares of FPIs that they are free from all encumbrances.
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