SEBI issues revised KYC norms for FPIs

Providing relief to foreign portfolio investors, SEBI Friday came out with revised Know Your Client (KYC) norms as well as eligibility conditions for such entities. Certain categories of FPIs would be required to maintain a list of beneficial owners and provide the same to the regulator. "Category II and III FPIs registered prior to this circular (existing FPIs) should provide the list of BOs and applicable KYC documentation within six months," SEBI said in a circular. (Text: PTI)