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SEBI Relaxes Rules for FPIs
- 16 Mar 2024
On 15th March, Securities and Exchange Board of India (SEBI) relaxed rules for FPIs, AIFs, IPOs, and uniform approach for market rumour verification.
Key Points
- Beta Testing T+0 Settlement Mechanism: SEBI to launch Beta version for limited scrips and brokers to test T+0 settlement mechanism.
- Stakeholder Consultation: Further consultation with stakeholders planned; progress review at three and six months.
- Exemption for FPIs: Exemption from additional disclosure requirements for foreign portfolio investors (FPIs) with over 50% India equity assets.
- Compliance and Due Diligence: Alternative Investment Funds (AIFs) mandated for specific due diligence of investors and investments for compliance.
- Uniform Rumour Verification: Objective criteria specified for rumour verification to address concerns about funding through AIFs.
- IPO Regulations: SEBI eliminates 1% security deposit requirement for public/rights issue of equity shares.
- Listed Companies Compliance: Market capitalisation-based compliance requirements determined on six-month average.
- Timeline Extensions: Extension of timelines for filling up vacancies, scheduling Risk Management Committee meetings.
- Infrastructure Investment Trusts (InvITs): Framework provided for issuance of subordinate units by privately placed InvITs.
- Regulatory Bodies Recognition: Recognition of stock exchange as Research Analyst and Investment Advisers Administration body.
- Listing Norms Extension: Mandatory applicability of listing norms for HVDLEs extended till March 31, 2025.
- Budget Approval: SEBI board approves budget for the financial year 2024-25.
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