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SEBI Digital PoA: Foreign Investor Onboarding Simplified
20 Aug
Summary
- Foreign Portfolio Investors can now submit digitally signed Powers of Attorney.
- Physical notarisation, apostillisation, and consularisation are no longer mandatory.
- The amendment aims to speed up investor onboarding and digitalize the process.
The Securities and Exchange Board of India (SEBI) has announced a pivotal change, allowing Foreign Portfolio Investors (FPIs) to submit digitally signed Powers of Attorney (PoAs). This move significantly enhances the ease of doing business for foreign investors. This update simplifies the process by removing the prior requirement for physical notarisation, apostillisation, or consularisation of these crucial documents.
The regulatory body has amended its Master Circular for FPIs, updating Para 9(B)(iv) of Part B. This adjustment is specifically designed to expedite the onboarding of new FPI applicants. Furthermore, it represents a significant step towards the comprehensive digitalization of the entire FPI registration procedure.
This amendment, which took effect on August 20, is part of SEBI's ongoing commitment to modernizing its operational framework. By reducing procedural hurdles, SEBI aims to attract more foreign investment and bolster India's position in the global financial landscape.
