Friday, July 15, 2016

Sebi issues stricter KYC, disclosure regime for Participatory Notes

Under the new norms, all the users of Overseas Derivative Instruments (ODIs) would have to follow Indian KYC and AML (Anti Money Laundering) Regulations, irrespective of their jurisdictions, while the ODI issuers will be required to file suspicious transaction reports, if any, with the Indian Financial Intelligence Unit (FIU).

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