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Securities Exchange Board of India (SEBI) has issued the circular dated 7th July 2017 on the guidelines for issuance of ODIs, with derivative as underlying, by the ODI issuing FPIs. Now the FPIs are required to comply with the following conditions to issue ODI, along with the terms of SEBI (Foreign Portfolio Investors) Regulation, 2014 (FPI Regulations) and Circulars issued from time to time regarding ODI:
- The ODI issuing FPIs shall not be allowed to issue ODIs with derivative as underlying, with the exception of those derivative positions that are taken by the ODI issuing FPI for hedging the equity shares held by it, on a one to one basis.
- The ODI issuing FPIs shall not be allowed to issue ODIs with derivative as underlying, with the exception of those derivative positions that are taken by the ODI issuing FPI for hedging the equity shares held by it, on a one to one basis.
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SEBI has introduced an online system for filings related to Foreign Venture Capital Investors (FVCI), to protect the interests of investors in securities and to promote and regulate the securities market. The e-filing system of applying for registration, reporting and various compliances under the provisions of FVCI Regulations, would facilitate ease of operations. All applicants desirous of seeking registration as a FVCI are now required to submit their applications online only through SEBI Intermediary Portal. However, all SEBI registered FVCIs are now required to file their compliance reports and submit applications for any request under the provisions of FVCI Regulations, through the online system only. The aforesaid online filing system for FVCI has been made operational from July 1, 2017.
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Subject to terms and conditions mentioned in Reserve Bank of India (RBI) vide A.P. (DIR Series) Circular no. 30 dated February 02, 2017, NRIs are now permitted to trade in the currency derivatives segment of stock exchanges.
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