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    • HSBC, UBS stop issuing P-Notes as India steps up clampdown

      A number of foreign investors including HSBC and UBS have stopped issuing controversy-ridden P-Notes as regulatory and enforcement agencies step up their clampdown on misuse of this once-popular instrument among foreigners to invest in Indian markets.

    • SEBI issues stricter KYC, disclosure regime for P-Notes

      Markets regulator SEBI on June 10 put in place a stricter KYC and disclosure regime for Participatory Notes to make it tougher to use these offshore instruments without disclosing the money-trail and details of their users

    • SEBI wants P-Note users to come directly to India

      Ruling out any concessions for hedge funds with riskier profile in Indian markets, SEBI Chairman UK Sinha said P-Note users should eventually move to direct route of investing as their share in foreign portfolio investments here has already fallen to a record low of 9.3 percent

    • Sebi's decision on P-Note to add strength to our markets: Das

      P-Notes are typically instruments issued by registered foreign institutional investors to overseas investors, who wish to invest in Indian markets without registering themselves directly in India to save on time.

    • P-Notes: Foreign investors fine with key Sebi proposals

      As Sebi readies to tighten its rules for controversy-ridden P-Notes, major foreign investors including JPMorgan, HSBC, UBS and Goldman Sachs have supported the proposed provisions for immediate reporting of any breach to the regulator and filing of suspicious transaction reports.

    • Offshore units come under Sebi lens for share manipulations

      Top officials said the regulator is closely looking at possible instances where share prices of companies listed in the domestic stock market are being manipulated through offshore centres of foreign banks.

    • Sebi's new ODI rules may not be a dampener for fund flows

      Fund flows from unregulated entities stands at USD 550 million (approximately Rs 3,400 crore), which account for a minimal 0.01 percent of total P-Note investment that amounted to over Rs 2.65 lakh crore as of October 2014.

    • New Sebi rule on P-Notes not a deal breaker: Sandeep Parekh

      Sandeep Parekh, a corporate lawyer, says there are 2 significant differences in the ODI circular. One, Sebi has tightened the definition of regulated entities. Second, P-notes cannot be issued to entities residing in a country not compliant with Anti Money Laundering and Combating Financial Terrorism regulations.

    • Sebi directs foreign investors to comply with P-Note norms

      While existing ODI positions will be allowed to continue till expiry if they are not in compliance with the relevant provisions of Foreign Portfolio Investment (FPI) Regulations, any additional issuance, renewal or rollover of such non-compliant positions would not be permitted, Sebi said.

    • Experts on GAAR: Need clarity on tax evasion & tax planning

      Foreign portfolios in India have been left shaken on implementation of certain provisions in the General Anti-Avoidance Rules (GAAR) by Income-Tax officials. The fear that FIIs will start pulling money out of India has left the market in turmoil.

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