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