Extend easier FPI compliance norms by three months, custodians tell Sebi

Sebi had allowed custodians to furnish scanned documents instead of originals for FPI registrations in the backdrop of the pandemic. The relaxation was given till June 30 and later extended to Aug 31

A number of custodians have written to the Securities and Exchange Board of India (Sebi), seeking an extension of easier compliance norms for FPI (foreign portfolio investors) registrations by another three months. 

Earlier this year, the regulator had allowed custodians to furnish scanned documents instead of originals for FPI registrations because of the pandemic. The relaxation was given till June 30 and later extended to August 31. 

Several countries, including the US, Singapore, and Australia continue to reel under the impact of the pandemic and have imposed fresh lockdowns. Most custodians in Mumbai are also adopting the policy of work