https://www.taxtmi.com/circulars?id=57793 Collective investment vehicles of private/merchant banks must comply with KYC and beneficial owner identification, exclude Resident Indian/NRI/OCI beneficial owners, avoid jurisdictions identified by FATF for deficiencies, prohibit opaque or bearer share structures, and maintain a broad based common portfolio (except for ODIs) with no investor exceeding forty nine percent; insurance/reinsurance companies must maintain undivided common portfolios and segregated structures are prohibited; other regulated Category II persons may invest proprietary funds and may invest client funds as ODI issuing FPIs or after meeting broad based and common portfolio conditions, with all FPI restrictions and due diligence requirements continuing to apply. en-us Tue, 13 Mar 2018 00:00:00 +0530 Thu, 29 Nov 2018 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=57793 Collective investment vehicles of private/merchant banks must comply with KYC and beneficial owner identification, exclude Resident Indian/NRI/OCI beneficial owners, avoid jurisdictions identified by FATF for deficiencies, prohibit opaque or bearer share structures, and maintain a broad based common portfolio (except for ODIs) with no investor exceeding forty nine percent; insurance/reinsurance companies must maintain undivided common portfolios and segregated structures are prohibited; other regulated Category II persons may invest proprietary funds and may invest client funds as ODI issuing FPIs or after meeting broad based and common portfolio conditions, with all FPI restrictions and due diligence requirements continuing to apply. Circulars SEBI Tue, 13 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=57793