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FPIs on the edge as stricter disclosure rules approach
Foreign portfolio investors (FPIs) are expressing apprehension over the 10-day disclosure window provided for submitting details of beneficial owners in the case of fresh breaches of investment thresholds. Just before the additional disclosure regulations for FPIs become effective, the Securities and Exchange Board of India (Sebi) has released the standard operating procedure (SOP) for custodians. While the SOP offers clarity on exemptions and formats for granular details, industry players report that FPI custodians are worried about certain implementation challenges.