SEBI considers new norms for foreign investors

A Securities and Exchange Board of India (SEBI) panel has recommended waiving the requirement
for Foreign Institutional Investors (FIIs) to directly register with the market regulator. According to the recommendations, FIIs and sub-accounts would now be able to register themselves and transact through Designated Depository Participants (DPs) whose qualification would be prescribed by the market regulator. The panel also wants the merger of existing FIIs, sub-accounts and qualified foreign investors into a new investor-class called Foreign Portfolio Investor (FPI).