Know Your Client requirements for Foreign Portfolio Investors (FPIs)

• Notice No: 20190315-34
• Notice Date: 15 Mar 2019
• Category: Compliance
• Segment: General

 As per the aforesaid SEBI circular point no 7 Timelines for compliance, Category II and III FPIs registered prior to SEBI circular should provide the list of Beneficial Owners and applicable KYC documentation within six months from the date of aforesaid SEBI circular. If FPI fails to comply with the applicable KYC requirements by the given deadline, the concerned Custodian shall not allow such FPI to make fresh purchases till the time KYC documentary requirements, as applicable, are complied with. However, such FPI shall be allowed to continue to sell the securities already purchased by it. Such FPI shall be allowed to disinvest its holdings within a period of 180 days from the expiry of the timeline. In case the FPI remains non-compliant with this requirement even after 180 days from the said deadline, its FPI registration will no longer be valid and it would need to disinvest its holdings immediately.

In view of the above, trading members may note that the details of said FPIs (PAN and CP Code) who have not yet complied with the SEBI circular mentioned above shall be made available on BSE Extranet FPI folder at the end of March 20,2019. The file format for details of said FPIs and SEBI Circular is attached as Annexure.

Trading Members are requested to take note of above and comply accordingly.

For any further clarifications, Trading members are requested to contact their designated Relationship Managers.

For & on behalf of BSE Ltd,
Gopalkrishnan Iyer	Ketan Jantre
Chief.GM – Membership Compliance	Sr.GM – Trading Operations