India Seeks More Disclosures from Foreign Funds After Adani Saga
- Changes estimated to impact $31.5 billion of FPI AUM in India
- Comments from stakeholders are invited through June 20
India’s capital markets regulator proposes to seek more disclosures from foreign funds with large holdings in local stocks or companies, following criticism about lack of oversight over inflows into sprawling conglomerates such as the Adani Group.
The Securities and Exchange Board of India in a consultation paper Wednesday defined ‘high-risk’ foreign portfolio investors and said these funds must comply with additional disclosure requirements within six months after the norms are implemented. Comments are invited through June 20.