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SEBI Circular introducing additional measures to address regulatory arbitrage for Offshore Derivative Instruments (ODIs) and Foreign Portfolio Investors (FPIs) with segregated portfolios vis-à-vis FPIs
This alert summarizes a recent Circular released by the Securities and Exchange Board of India (SEBI), dated 17 December 2024 (Circular) which introduces measures to address regulatory arbitrage for Offshore Derivative Instruments (ODIs) and Foreign Portfolio Investors (FPIs) with segregated portfolios vis-à-vis FPIs.
The Circular is in furtherance to the consultation paper (CP) released by SEBI for public comments on 6 August 2024. The Circular makes changes to the existing conditions for issuance of ODIs and mandates applicability of granular disclosure framework [released by SEBI vide Circular dated 24 August 2023 and subsequent amendments thereto (August Circular)] to ODIs and FPIs with segregated portfolios.