SEBI Eases Norms for PN issuing FIIs

SEBI Eases Norms for PN issuing FIIsMarket regulator Securities and Exchange Board of India (SEBI) has relaxed disclosures for Participatory Notes (PN) issuing Foreign Institutional Investors (FIIs) on short positions.

According to the new rule, effective from July 2, FIIs will be mandatory to report lending of securities on a weekly basis.

As per SEBI release, FIIs will put out disclosures on every Friday, while public distribution of disclosures will take place on every Tuesday.

SEBI has made it obligatory that those FIIs issuing PN will be needed to take an undertaking to report any new short position to SEBI directly. (With Inputs from Agencies)