To ease onboarding for FPIs and reduce duplication of information, Sebi on Tuesday proposed an abridged version of Common Application Form (CAF) that only requires information unique to the applicant.
Further, the rest of the information will be auto-filled from the depository’s records or certain fields will be disabled if not needed.
Also, the applicants will need to confirm that the previously provided information remains unchanged, Sebi proposed in its consultation paper.
The regulator observed that in case of certain categories of Foreign Portfolio Investor (FPI) applicants like multiple funds under an Investment Manager (IM), sub-funds of a master fund, or schemes of insurance companies, much of their relevant information is already captured in depositories’ CAF module, which can be leveraged without seeking the same from said applicants.
Further, there are certain fields which are exclusive to individual FPI applicants and hence will not be applicable to the applicants …
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