The Participatory Notes policy could be on review once again, reports CNBC-TV18, quoting sources. Sources have said that the review regarding regulations for Foreign Institutional Investors is on the back of the FII exodus since October. The FIIs have moved their Nifty trading to Singapore. Both – the Government and the Sebi is concerned about this shift in volumes.They are finding ways to stem the shift.
Sebi is consulting NSE, BSE & market participants, sources said. Earlier the Sebi had believed that the new OTC (over-the-counter) products would fill the gap, but now the Sebi has felt the need to take additional steps. The Sebi Committee will present its final report on the matter in two-three weeks.
The matter will come up in the next Sebi Board meet.
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