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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI Circular Sets Strict Conditions for Issuing Offshore Derivative Instruments Under Regulation 4 of FPI Regulations 2014.</h1> The circular outlines conditions for issuing Offshore Derivative Instruments (ODIs) under the SEBI (Foreign Portfolio Investor) Regulations, 2014. It mandates that ODIs be issued only to subscribers meeting the eligibility criteria specified in Regulation 4, including residency requirements and compliance with international financial standards. ODIs must not be issued to entities with opaque structures. Investment restrictions applicable to Foreign Portfolio Investors (FPIs) also apply to ODI subscribers, considering common beneficial ownership. Existing non-compliant ODI positions can continue until expiration but cannot be renewed. The circular requires FPIs to ensure compliance with these regulations and took effect immediately.
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