| Sebi relaxed the Know Your Clients (KYC) norms for various overseas entities including foreign institutional investors, and has done away with in- person verification requirements for non-individual clients. The market regulator has given the clarifications on KYC norms for FIIs, sub-accounts and Qualified Foreign Investors (QFIs).
In a circular, Sebi said that foreign entities such as Sovereign Wealth Fund and overseas government agencies would not be required to provide residential and photograph, among others, to meet KYC norms...........................................Full Article: Source
|