Highlights
- The board of the Securities and Exchange Board of India (SEBI), which is scheduled to meet, will give final shape to the regulations governing investments by foreign investors especially those managed by Non-Resident Indians (NRIs).
- The board will also give the final go-ahead to the new consent regulations that allow the regulator to settle cases related to serious market violations by intermediaries while accepting the report by the Committee on Fair Market Conduct, which, among other things, recommended giving SEBI direct powers to intercept phone calls for better investigation.
- The board will take a final decision on FPI Regulations based on the public feedback it receives on the recommendations made by the H.R. Khan Committee.
Public feedback
- While the committee report was made public, SEBI has given time till September 17 to submit public comments on the panel recommendations.
- The SEBI board is scheduled to meet in Mumbai on September 18.
- The FPI norms have been in the news in the recent past with overseas investors objecting to a circular issued in April that barred NRIs, along with Overseas Citizen of India (OCI) and Resident Indians (RIs) from managing the investments of SEBI-registered FPIs.
- Though the panel report has recommended dilution of the contentious circular, the board will have to take a final call on the recommendations to effect any change in the earlier diktat.
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