Foreign portfolio investor classification defines distinct eligibility rules and manager liability for institutional and broad based funds. Regulation 5 classifies foreign portfolio investor applicants into three categories with distinct eligibility criteria. Category I covers government and government related investors; Category II includes appropriately regulated institutional investors, specified regulated persons and broad based funds whose investment managers are themselves appropriately regulated and registered, with detailed definitions of 'appropriately regulated' and 'broad based fund' and a 90 day cure period for loss of broad based status; Category III comprises all other applicants not eligible under the first two categories. Investment managers of certain funds bear responsibility and liability for acts of their underlying funds.
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Provisions expressly mentioned in the judgment/order text.
Foreign portfolio investor classification defines distinct eligibility rules and manager liability for institutional and broad based funds.
Regulation 5 classifies foreign portfolio investor applicants into three categories with distinct eligibility criteria. Category I covers government and government related investors; Category II includes appropriately regulated institutional investors, specified regulated persons and broad based funds whose investment managers are themselves appropriately regulated and registered, with detailed definitions of "appropriately regulated" and "broad based fund" and a 90 day cure period for loss of broad based status; Category III comprises all other applicants not eligible under the first two categories. Investment managers of certain funds bear responsibility and liability for acts of their underlying funds.
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