INSUBCONTINENT EXCLUSIVE:
Sebi also approved changes to the norms prohibiting insider trading.Mumbai: The market regulator Sebi or Securities and Exchanges Board of
India on Wednesday eased the rules for foreign portfolio investors (FPI) doing away with the broad-based eligibility criteria for FPIs and
announced that the registration for the multiple investment manager structure would be simplified.Proposing the new regulations for FPIs,
Sebi Chairman Ajay Tyagi said that central banks of other countries are now also eligible to be FPIs
These would now be permitted to transfer unlisted illiquid shares off market. The Sebi in its board meet on Wednesday also decided to allow
offshore funds of Indian mutual funds (MFs) to invest as FPIs.Besides, the FPIs will now be categorised into two classes, cutting down from
the current three categories
The board also amended regulations concerning credit rating agencies. Tyagi said the regulator is examining the possibility of allowing MFs
to join inter-creditor arrangements. Sebi, on Wednesday, also approved changes to the norms prohibiting insider trading.Get Breaking news,
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