INDIA: Timelines for Foreign Investors to Declare Beneficial Owners Extended

Friday August 24 2018

SEBI vide Circular No. CIR/IMD/FPIC/CIR/P/2018/64 dated 10 April 2018 has prescribed Know Your Client Requirements for Foreign Portfolio Investors (FPIs).

The Securities and Exchange Board of India have recently extended the timelines relating to the requirements for:

• FPI’s to provide a list of their beneficial owners;
• FPI’s not in conformity with the requirements of para 2(c) of the Circular to change their structure or close their existing position; and (among others)
• existing FPIs to provide documents specified by para 2(g) of the Circular,

from 6 months from the date of the original publication of the Circular to 31 December 2018.

All other terms and conditions specified in the Circular, dated 10 April, 2018 shall remain unchanged.

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