DETAILS ON SENIOR OFFICIALS SOUGHT
THE SECURITIES AND Exchange Board of India (Sebi) has started asking for details of senior managing officials (SMOs) of foreign portfolio investors (FPIs) on a look-through basis for fresh registrations, a move that could hit such registrations in the country.
The regulator is keen on knowing the SMOs of the parent entity of the investor and not just the FPI. Till now, the look-through principle was applied for the identification of beneficial ownership on the basis of ownership and control and not the SMO.
An SMO is an individual/s designated by the FPI who holds a senior management position and makes key decisions related to the FPI.
Given the probable reluctance of investors worldwide to give the SMO information on a look-through basis, this move could have a dampening impact on FPI registrations that have been gaining traction in the past couple of years. The registration process usually takes around two-three months.
Diese Geschichte stammt aus der March 02, 2023-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der March 02, 2023-Ausgabe von Financial Express Mumbai.
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