Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
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of SEBI has issued a circular to provide flexibility to Foreign Portfolio Investors (FPIs) in dealing with their securities post-expiry of their registration. Amendments to the SEBI (FPI) Regulations, 2019, effective June 3, 2024, allow FPIs to continue registration by paying fees and updating information. FPIs failing to renew within the validity period can reactivate within 30 days with a late fee, subject to KYC and AML/CFT compliance. FPIs can dispose of securities within 180 days post-expiry. Securities unsold after this period will be written off. The framework includes financial disincentives and mandates custodians to transfer written-off securities to an escrow account for sale, with proceeds going to the Investor Protection and Education Fund (IPEF). The circular is issued u/s 11(1) of the SEBI Act, 1992.
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