New Delhi, June 23: Relaxing compliance requirement for Foreign Portfolio Investors (FPIs), Sebi on Tuesday allowed scanned copies of documents for renewing registration till August 31 in the wake of coronavirus pandemic.
New Delhi, June 23: Relaxing compliance requirement for Foreign Portfolio Investors (FPIs), Sebi on Tuesday allowed scanned copies of documents for renewing registration till August 31 in the wake of coronavirus pandemic.
Earlier, this relaxation was given till June 30.
In light of the prevailing situation due to COVID-19, the markets regulator received representations from various stakeholders about extending temporary relaxation with respect to compliance requirements for FPIs, the Securities and Exchange Board of India (Sebi) said in a circular.
Accordingly, the regulator has decided to extend the relaxations in a situation where FPIs are not in a position to send original and/ or certified documents.
Sebi has asked depository participants and custodians to process the request for registration, continuance, KYC and any other material change on the basis of scanned version of signed documents (instead of originals) and copies of documents which are not certified, received from e-mail IDs of their global custodians or existing clients where these details are already captured in records or e-mail IDs of new clients received from domains which are duly encrypted.
It, further said, these documents can be uploaded on KRAs (KYC registration agencies) websites and other intermediaries may rely on the papers.