31/05/2017
Sebi looks to tighten the screws on P- Notes
Delhi : The Securities and Exchange Board of India (SEBI) proposes to levy a $1,000 fee on foreign portfolio investors (FPIs) for each participatory note (P- Note) issuance in an effort to cut down on speculative investments.In a consultation paper released on Monday, the markets regulator also proposed banning P-Notes that are based on derivatives used purely for speculative purposes.P- Notes, or offshore derivative instruments (ODIs), are issued by registered FPIs to overseas investors who wish to invest in Indian stock markets without registering themselves with SEBI.