https://www.taxtmi.com/circulars?id=57729 Identification and verification of beneficial owners for Category II and III FPIs must follow Rule 9 of the PMLA Rules: FPIs must maintain a certified list of BOs (Annexure A), apply a materiality threshold at the FPI level and on a look through basis to intermediate shareholders/owner entities (with Annexure B disclosures), identify senior managing officials, and disclose ownership or control exercised through voting rights, agreements or arrangements. Enhanced due diligence applies to FPIs from high risk jurisdictions and Category III FPIs must furnish prescribed financial data; periodic, risk based KYC reviews and secured KRA access to BO data are required, with record retention and compliance timelines. en-us Fri, 21 Sep 2018 00:00:00 +0530 Tue, 27 Nov 2018 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=57729 Identification and verification of beneficial owners for Category II and III FPIs must follow Rule 9 of the PMLA Rules: FPIs must maintain a certified list of BOs (Annexure A), apply a materiality threshold at the FPI level and on a look through basis to intermediate shareholders/owner entities (with Annexure B disclosures), identify senior managing officials, and disclose ownership or control exercised through voting rights, agreements or arrangements. Enhanced due diligence applies to FPIs from high risk jurisdictions and Category III FPIs must furnish prescribed financial data; periodic, risk based KYC reviews and secured KRA access to BO data are required, with record retention and compliance timelines. Circulars SEBI Fri, 21 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=57729