SEBI has proposed simplifying the Foreign Portfolio Investor (FPI) registration process by reducing the information required at the time of application. An abridged version of the Common Application Form (CAF) will be used for certain categories of FPIs, leveraging existing data in the Depositories’ system to save time and effort. Public feedback on this proposal is invited until October 15.
SEBI is investigating six domestic investment banks for charging unusually high fees, up to 15%, for small business IPOs, much higher than the standard 1-3%. The regulator suspects malpractice aimed at ensuring oversubscription by coordinating bids from investors. SEBI is tightening IPO rules for small businesses and is preparing to implement stricter regulations to curb such practices.
SEBI’s upcoming board meeting on September 30 may discuss introducing a new asset class with a ₹10 lakh minimum ticket size, targeting investors with ₹10-50 lakh. They may also propose “MF Lite Regulations” for passively managed mutual funds, easing governance rules, including shareholding norms.
Additionally, SEBI may broaden the definition of “connected persons” under insider trading rules and raise net worth requirements for merchant bankers, potentially creating two categories based on net worth.
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