India - Mandating Legal Entity Identifier (LEI) For All Non – Individual Foreign Portfolio Investors (FPIs)

August 3, 2023 by Rohin Pujari

The SEBI by way of its circular dated July 27, 2023, has mandated the non-individual foreign portfolio investors (“FPIs”) to provide their legal entity identifier (“LEI”) details.

Previously, the FPIs were only required to provide their LEI details on a voluntary basis in the Common Application Form (“CAF”) for the purpose of registration, KYC, and account opening. However, with the issuance of this circular, providing LEI details becomes a compulsory requirement. To comply with this circular, Depositories are required to make the necessary changes to their CAF available on their portals. This circular is effective immediately upon issuance.

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For further information, please contact:

Vineet Aneja – Clasis Law,
vineet.aneja@clasislaw.com

Vineet heads Clasis Law and shares his time between the Delhi and Mumbai offices. He has extensive experience working with both Indian and foreign companies, as well as with government authorities.

Vineet’s corporate practice includes advising on mergers and acquisitions, joint ventures, private equity and investment funds on a full range of corporate clients on general corporate matters and in the areas of capital markets, project finance, regulatory and real estate.

Vineet’s skill set includes a deep transactional understanding as well as significant industry expertise across industries as diverse as manufacturing, media, medical devices, fashion, insurance, technology, telecommunications, infrastructure, hospitality, retail and financial services. Client feedback has highlighted the value his experience adds to both the legal and commercial sides of transactions.