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of <h1>SEBI Allows FIIs to Maintain Collateral for Derivatives via Demat Accounts with Foreign Depositories under FEMA 1999.</h1> The circular addresses the maintenance of collateral by Foreign Institutional Investors (FIIs) for derivative transactions, allowing SEBI-approved clearing corporations and members to open demat accounts with foreign depositories. These entities can acquire, hold, pledge, and transfer foreign sovereign securities offered as collateral by FIIs, remit proceeds from corporate actions, and liquidate securities if necessary. Clearing corporations must report monthly balances of these securities to the Reserve Bank of India. Amendments to relevant regulations will be issued separately, and the circular's directives are issued under the Foreign Exchange Management Act, 1999.
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