Compliance officer requirement ensures FPIs monitor regulatory compliance and promptly report non compliance to the Board and designated depository participant. Every foreign portfolio investor must designate a compliance officer responsible for monitoring adherence to the Act, rules, regulations, notifications, guidelines and instructions issued by the designated depository participant, the Board or the Central Government; where the investor is an individual, that individual assumes the responsibility. The compliance officer must independently and immediately report any observed non compliance to the Board and the designated depository participant.