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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Investment

SEBI’s investment cap on Temasek, GSIC upsets parent Singapore govt

Posted on 04 October 2010

From Indiatimes.com: The Singapore government has told India’s foreign ministry that a ruling by the (SEBI) restricting investments by two of its overseas investment arms — and the Government of (GSIC) — to a combined 15% violates the Comprehensive Economic Co-operation Agreement (CECA) signed by the two nations.
The Singapore government says that both Temasek and GSIC are two distinct entities and that the decision of India’s securities market regulator SEBI to limit acquisitions by overseas entities in listed firms, to less than 15% should not apply to them. SEBI’s foreign portfolio investment rules restrict investment by a single foreign fund to 10% in a listed Indian firm……………………………………….Full Article: Source

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