In a significant move, Securities and Exchange Board of India (Sebi) board on Tuesday approved revised Know Your Client (KYC) norms and settlement of cases for foreign portfolio investors (FPIs).
The proposals were cleared by the board of Sebi at its meeting at Mumbai and the new guidelines to be issued soon.
In a press conference, chairman Ajay Tyagi said that Sebi board has allowed foreign portfolio investors to trade in commodity derivatives market, except for sensitive commodities
On enforcement and settlement process recommendations by
Sebi-appointed committee, the markets regulator will revise settlement process relating to insider trading, front-running and misstatements in offer documents will be settled 'depending on the facts and circumstances of each case'.
However, cases involving wilful defaulters and economic offenders will not be settled by the Sebi.
The board has given its nod for amending delisting regulations. Further, inter-operability of clearing houses for commodities and new methodology to calculate the total expenses ratio for fund managers have been clearedHave you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know.