24th August, 2018
NOTICE
Sub: Amendment to SEBI Circular No.
CIR/IMD/FPIC/CIR/P/2018/64 dated April 10, 2018 on Know Your Client
Requirements for Foreign Portfolio Investors (FPIs)
To all Listed Companies
Attention of such aforesaid listed
companies are drawn to SEBI Circular Ref. No. IMD/FPIC/CIR/P/2018/124
dated August 21, 2018 (copy available at CSE web-site at www.cse-india.com
and SEBI web-site at www.sebi.com)
wherein
SEBI vide Circular No.
CIR/IMD/FPIC/CIR/P/2018/64 dated April 10, 2018 has prescribed Know Your Client
Requirements for Foreign Portfolio Investors (FPIs). As per the said Circular of dated August 21,
2018, the following timelines had been prescribed in the aforesaid circular:
1.1.
Existing
FPIs were required to provide the list of beneficial owners (BO), in the format
prescribed at para 2(b) of the aforesaid circular, within six months from the
date of the circular,
1.2.
The
existing FPI structures not in conformity with the requirement specified at
para 2(c) of the aforesaid circular were required to change their structure or
close their existing position in Indian securities market within six months
from the date of the circular.
1.3.
The existing FPIs or their investors
identified on basis of threshold for identification of BO in accordance with
Rule 9 of the Prevention of Money-laundering (Maintenance of Records) Rules,
2005 who do not conform to the requirements prescribed at para 2(d) of the
aforesaid circular, were required to ensure compliance within six months of the
date of the circular.
1.4.
In
respect of para 2(g) of the aforesaid circular, the existing FPIs were required
to provide the documents specified therein within six months from the date of
the circular.
1.5.
All
existing FPIs whose clubbed investment in equity shares of a company is in
breach of the provisions of Regulation 21(7) of Securities and Exchange Board
of India (Foreign Portfolio Investors) Regulations, 2014 were required to
ensure compliance within six months from the date of the circular (para 3 of
the aforesaid circular).
The above listed timelines are hereby
extended to December 31, 2018
This is for information
and necessary action.
CS Chandrani Datta
Executive-Listing