Conditions for issuance of Offshore Derivative Instruments under SEBI (Foreign Portfolio Investor) Regulations, 2014

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....nts under SEBI (Foreign Portfolio Investor) Regulations, 2014. 1. It has been decided to align the applicable eligibility and investment norms between Foreign Portfolio Investor (FPI) regime and subscription through the Offshore Derivative Instruments (ODI) route. Accordingly, it is clarified as under. 2. An FPI shall issue ODIs only to those subscribers which meet the eligibility criteria as la....

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.... Anti-Money Laundering or Combating the Financing of Terrorism deficiencies to which counter measures apply; or ii. a jurisdiction that has not made sufficient progress in addressing the deficiencies or has not committed to an action plan developed with the Financial Action Task Force to address the deficiencies; 3. An FPI shall issue ODIs only to those subscribers which do not have opaque stru....

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....r words, the investment as FPI and positions held as ODI subscriber will be clubbed together with reference to the said investment restrictions. 5. FPIs which issue ODIs shall put in place necessary systems to ensure compliance with above provisions as mentioned in paragraph 2, 3 and 4. 6. Existing ODI positions, if they are not in accordance with paragraph 2, 3 and 4, may continue till the expi....