Sebi scraps notarisation for foreign investors, speeds up onboarding instantly
GS3Economy · S&T · Environment · Security· Capital markets & SEBI· Prelims·
Why in news
Sebi has eliminated the requirement for notarisation, apostillisation, or consularisation of Power of Attorney (PoA) documents for Foreign Portfolio Investors (FPIs) to expedite onboarding.
Background
The Securities and Exchange Board of India (Sebi) introduced the rule to allow digitally signed PoA documents. The move aims to reduce compliance hurdles and streamline market access for global capital by leveraging technology.
Facts for Prelims
- BodySebi: The primary regulator for the securities and capital markets in India.
- FactFPI: Foreign Portfolio Investors are entities that invest in Indian financial assets like stocks and bonds.
- S&TApostillisation: A form of authentication for documents to be used in countries that are members of the Hague Convention.
- FactThe new rule regarding digitally signed PoA documents came into effect immediately.
For Mains
Q. Discuss how the simplification of regulatory compliance and the adoption of technology can enhance India's position as a preferred destination for global capital.
Dimensions to cover in your answer
- Ease of Doing Business
- Capital Market Liquidity
- Digital Transformation in Finance
- Attracting FDI/FPI
Keywords: Regulatory Ease · Capital Market · Digital Onboarding · Compliance Hurdles · Ease of Doing Business
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