Clearer KYC rules urged for India's FPI regime
Custodians will have more power in securing first-time foreign investment under the proposed Foreign Portfolio Investment regime in India, but are seeking a more defined role.
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As India moves to simplify the documentation process for approving foreign investment into the country, local custodians are urging the country's securities regulator to provide greater detail on their roles.
Foreign investors seeking to trade Indian securities face a number of cumbersome tasks, including a lengthy registration process with the Securities and Exchange Board of India (Sebi) and the know-your-customer (KYC) assessment process.
Foreign investors wanting to invest o…
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