Custodians pitch ownership factor for FPI disclosures

According to the recommendations of a consultation paper, which are soon expected to be transformed into regulations by the Securities and Exchange Board of India (Sebi), a foreign portfolio investor (FPI) which deploys 50% or more of its money in the stocks of a single corporate group will have to reveal the ultimate beneficial owners (UBOs) – down to the last natural persons – behind every investor in the fund pool.

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