Sebi proposes to ease foreign investors' compliance burden

The Securities and Exchange Board of India (Sebi) has proposed to ease the compliance burden on foreign portfolio investors (FPI) by reducing documentation and doing away with approvals for merger of schemes.

In a consultation paper it has issued, the markets watchdog has proposed to exempt FPIs which have multiple investment managers from taking Sebi approval for free of cost (FOC) transfers. Designated depository participants (DPPs) would clear such applications. Foreign funds will also not need approval from Sebi to change their DPPs, which act as brokers and first-level regulators for FPIs.

Further, Sebi proposes to also do away with a majority