FVCI registration reform: new eligibility, certification, compliance and renewal rules govern foreign venture capital investments. Registration to act as a foreign venture capital investor is required and must be obtained via a designated depository participant on behalf of the Board; applications must follow the specified form, documentation and fee requirements. Eligibility links residency, regulatory cooperation through IOSCO multilateral or bilateral MoUs, AML/FATF and sanctions exclusions, and fit and proper criteria. Certificates carry conditions including appointment of a domestic custodian and banking arrangements; renewals occur in multi year blocks with prescribed fees and restrictions on investment until fees are regularised. Designated depository participants and custodians have ongoing monitoring, KYC, reporting and recordkeeping duties.
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Provisions expressly mentioned in the judgment/order text.
FVCI registration reform: new eligibility, certification, compliance and renewal rules govern foreign venture capital investments.
Registration to act as a foreign venture capital investor is required and must be obtained via a designated depository participant on behalf of the Board; applications must follow the specified form, documentation and fee requirements. Eligibility links residency, regulatory cooperation through IOSCO multilateral or bilateral MoUs, AML/FATF and sanctions exclusions, and fit and proper criteria. Certificates carry conditions including appointment of a domestic custodian and banking arrangements; renewals occur in multi year blocks with prescribed fees and restrictions on investment until fees are regularised. Designated depository participants and custodians have ongoing monitoring, KYC, reporting and recordkeeping duties.
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