Sebi mulls launching common application form for FPIs

Sebi mulls launching common application form for FPIs

FPJ BureauUpdated: Wednesday, May 29, 2019, 06:13 AM IST
article-image

New Delhi : Markets regulator Sebi is likely to consider a proposal to introduce a common application form for foreign investors to enter into the domestic capital market, a move expected to improve ease of doing business, senior officials said.

Besides, Sebi is expected to deliberate on a proposal on doing away with the requirement of 1 per cent security deposits for public issuance of debt securities.

Further, it is likely to discuss on the procedure of transmission of securities in physical mode and the regulator may take up the issue of consistency in respect of payment of fees for seeking certain exemptions from the compliance with Sebi norms.

The board of Securities and Exchange Board of India (Sebi) may discuss these issues in its meeting scheduled this week, they added.

Currently, FPIs have to file a separate form to register themselves with the markets regulator. Besides, they have to approach bank for opening bank account, income tax department for PAN (Permanent Account Number) and market intermediaries for Demat account.

The move is expected to greatly enhance operational flexibility and ease of access to Indian capital markets.

Last month, the government had introduced a single application form for such investors.

With regard to 1 per cent security deposits for public issuance of debt securities, it has been proposed that this requirement should be done away in order to ease the cost and compliance burden on the issuer of securities.

Under the proposal for transmission of securities in physical mode, wherein the value of such securities is up to Rs 2 lakh per issuer company, it has been suggested that no-objection certificate from all legal heirs should not be required if they are in possession of succession certificate or probate of will or will.

RECENT STORIES

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...