TaxTMI 
TaxTMI 
Segregated Nominee Account Structure in International Financial Service Centre (IFSC)
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....ternational Financial Service Centre (IFSC) With a view to further facilitate ease of market access for foreign investors in IFSC and based on feedback received from market participants, it has been decided to permit Segregated Nominee Account Structure in IFSC wherein orders of foreign investors may be routed through eligible Segregated Nominee Account Providers (hereinafter referred to as 'Pr....
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....he KYC information for sharing with the Central KYC Registry (CKYCR) to the extent applicable to FPIs, are adhered to by 'Providers' for their end-clients. 5. Stock Exchanges and Clearing corporations are directed to: a) take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant bye-laws, rules and regulations; ....
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...., ii. SEBI registered FPIs (Category I and II), and iii. Trading / Clearing members of international stock exchanges / clearing corporations that are regulated by a member of Financial Action Task Force (FATF) Such eligible entities shall be called Segregated Nominee Account Providers. B. Registration of 'Provider' 'Providers' shall be registered with Stock Exchange / Clearing Corpo....
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....unt with only one 'Provider'. Legal Entity Identifier (LEI) code may be used to ensure that the end-client does not open Segregated Nominee Account with more than one 'Provider' and trades of an end-client are cleared and settled only through one clearing member. iii. Each end-client shall be assigned a Unique Client Code (UCC), which shall be unique across all end-clients of all 'Providers', b....