Decoding Recent Updates in the Foreign Portfolio Investor Regime

Wednesday, August 21, 2024
(7:00 PM – 8:00 PM IST / 9:30 AM – 10:30 AM ET)

INTRODUCTION:

The Foreign Portfolio Investor (“FPI”) regime has undergone several policy changes since the beginning of 2023. These changes include certain FPIs being mandated to submit granular information about their investors, revised timelines for notifying material changes, reduction of the thresholds for identification of beneficial owners, etc. Such frequent developments have, to some degree, posed certain adaptation challenges for the FPIs and their managers.

In light of the above, the webinar aims to discuss the basics and nuances of the following key topics:

  • Brief on the Indian regulatory regime governing FPIs.
  • Disclosure of beneficial ownership – Mannerism and Thresholds.
  • Disclosure of material changes to the Designated Depository Participant (“DDP”) / SEBI.
  • Granular disclosure requirements and available exemptions.

Flow of the session

07:00 PM to 07:45 PM (IST)

Panel Session

07:45 PM to 08:00 PM (IST)

Audience Q&A

 

Speakers:

Kishore Joshi

Lead, Financial Services and Regulatory Practice

Nishith Desai Associates

Kishore Joshi heads the Financial Services & Regulatory Practice at Nishith Desai Associates. He has over two decades of experience in advising clients on securities and exchange control laws. He advises foreign clients on structuring of their investments into India, including assisting in obtaining approvals or filings with the regulators. He also advises leading foreign hedge funds in the structuring of their investments and seeking necessary registrations with the SEBI, be it FPIs, Foreign Venture Capital (FVCIs) Investors or stock brokers, etc.

Kishore has interacted extensively with the securities and exchange control regulator and has made numerous representations seeking reform in the law. In addition, he regularly advises clients on fund investments, issues related to corporate and regulatory laws. He has made several presentations on inbound and outbound investments.

 

Prakhar Dua

Co-Lead, Financial Services and Regulatory Practice

Nishith Desai Associates

Prakhar Dua is a leader at the Financial Services & Regulatory and Fund Formation Practices at Nishith Desai Associates. He specialises in securities and foreign exchange laws, with special focus on the offshore hedge funds making investments in the Indian listed and unlisted space.

Prakhar advises overseas businesses on FDI / FPI structuring and investments, investment advisers and research analyst regulations, overseas investment rules and regulations, stock broking and trading related queries, and other SEBI and RBI related mandates.

He frequently interacts with the officials at SEBI and RBI and has also played key role at the firm in making policy and legal recommendations to SEBI on certain FPI related issues.

He also often authors articles on contemporary regulatory subjects and issues, and has been published in forums, such as the Bombay Stock Exchange Brokers’ Forum Views Magazine, the National Law Review, etc. He also frequently gets quoted in newspapers / news agencies, viz., the Business Standard, the Economic Times, the Financial Express and Reuters.

 

Ritul Sarraf

Member, Financial Services and Regulatory Practice

Nishith Desai Associates

Ritul is a member of the Financial Services & Regulatory and Fund Formation Practices at Nishith Desai Associates. She regularly advises clients on regulatory and securities law matters, with primary focus on FPIs, FVCIs, and other SEBI intermediaries, like investment advisors, research analysts and stockbrokers. She frequently interacts with SEBI officials and has authored numerous articles on developments in the regulatory landscape, including the FPIs regime and other securities law issues.