Home / Market / Stock-market-news /  Sebi approves KYC norms for FPIs, new settlement mechanism

Mumbai: The Securities and Exchange Board of India (Sebi) today approved a slew of proposals, including revised framework for settlement of cases and new know-your-customer (KYC) norms for foreign portfolio investors (FPIs). The proposals were cleared by the Sebi board at its meeting in Mumbai.

Sebi chairman Ajay Tyagi said the board has approved new KYC norms for FPIs and fresh guidelines would be issued soon. The market regulator has approved a proposal to allow foreign investors to trade in commodity derivatives market, except for sensitive commodities, as well as common application form for the registration of FPIs in the domestic markets, Tyagi told reporters after the board meeting.

The board has given its nod for amending delisting regulations. Further, interoperability of clearing houses for commodities and new methodology to calculate the total expenses ratio for fund managers have been cleared.

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