Sebi board clears easing fund settlement norms for foreign portfolio investors

Mumbai: The board of markets regulator Sebi on Monday approved a wide-ranging proposal, including easing fund settlement norms for foreign portfolio investors, and changes to regulatory frameworks for market intermediaries. The committee was chaired by former Chief Vigilance Commissioner Pratyush Sinha.

The board also approved ease-of-doing-business proposals related to real estate investment trusts, infrastructure investment trusts (InvITs) and alternative investment funds (AIFs). It has cleared a proposal to provide flexibility to AIFs in winding up a scheme.

Also, it proposed to overhaul “fit and proper person” criteria for market intermediaries, which includes removing automatic disqualification triggered by the filing of FIRs, complaints, or charge sheets in economic offence cases. PTI