Sebi allows custodians to draw up their own high-risk jurisdictions lists

Regulator retreats from earlier stance of having a single list categorising each geography

In a retreat from its earlier stance, the Securities and Exchange Board of India (Sebi) has asked the custodians to draw up their own lists of high-risk jurisdictions in lieu of a single, common list as envisaged earlier.    

In a meeting with custodians last week, the regulator told them that they could follow their own processes to identify high-risk jurisdictions, provided the list is reviewed periodically and the regulator is kept in the loop regarding the same.

This could imply that high-risk jurisdictions such as Mauritius -- a major source for FPI funds and which was included in