Framework for providing flexibility to Foreign Portfolio Investors in dealing with their securities post expiry of their registration

Framework for providing flexibility to Foreign Portfolio Investors in dealing with their securities post expiry of their registration https://www.taxtmi.com/circulars?id=67484 SEBI amends FPI and Custodian Master Circulars to allow FPIs who lapse or fail to re activate registration defined disposal windows: 180 days post lapse (no disincentive), an additional 180 days subject to a 5% financial disincentive on sale proceeds remitted to the IPEF, subject to KYC/AML/CFT compliance. Unsold securities after the combined 360 days are deemed written off, losing beneficial interest; custodians must transfer written off securities to escrow accounts operated by exchange empanelled brokers for sale, with net proceeds transferred to the IPEF and prescribed reporting by custodians and exchanges. en-us Wed, 05 Jun 2024 00:00:00 +0530 Thu, 06 Jun 2024 18:35:00 +0530 TaxTMI RSS Generator Framework for providing flexibility to Foreign Portfolio Investors in dealing with their securities post expiry of their registration https://www.taxtmi.com/circulars?id=67484 SEBI amends FPI and Custodian Master Circulars to allow FPIs who lapse or fail to re activate registration defined disposal windows: 180 days post lapse (no disincentive), an additional 180 days subject to a 5% financial disincentive on sale proceeds remitted to the IPEF, subject to KYC/AML/CFT compliance. Unsold securities after the combined 360 days are deemed written off, losing beneficial interest; custodians must transfer written off securities to escrow accounts operated by exchange empanelled brokers for sale, with net proceeds transferred to the IPEF and prescribed reporting by custodians and exchanges. Circulars SEBI Wed, 05 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67484