OUR NEW eLEARNING PORTAL CLICK HERE
![]() |
New Online Mock Test Portal Gurukul On Road |
Securities and Exchange Board of India (SEBI), pertains to foreign investment in Alternative Investment Funds (AIFs) and is a response to amendments made to the Prevention of Money Laundering (Maintenance of Records) Rules, 2005.
Key Points: (Date- 11th Jan 2024)
Beneficial Ownership Thresholds Revision:
- Amendments to the Prevention of Money Laundering Rules, 2005, revised thresholds for determining beneficial ownership.
- Gazette notifications on March 07, 2023, and September 04, 2023, initiated these changes.
Exam Prep Guide Book: NISM-Series-XIX-A: Alternative Investment Funds (Category I and II) Distributors Certification Exam Preparation Guide with 1400+ Question Bank
Modification of SEBI Master Circular for AIFs (SEBI/HO/AFD/PoD1/P/CIR/2023/130):
- Paragraph 4.1.2 under Chapter 4 of the SEBI Master Circular for AIFs has been modified.
- Investors or their beneficial owners must not be individuals listed in the UN Security Council Sanctions List.
- Investors or beneficial owners must not be residents in countries identified by the Financial Action Task Force (FATF) as having strategic Anti-Money Laundering or Combating the Financing of Terrorism deficiencies.
Impact on On-boarded Investors:
- If an already on-boarded investor fails to meet the revised conditions, the AIF manager cannot drawdown further capital contributions from that investor until compliance is achieved.
Immediate Implementation:
- The circular's provisions are effective immediately from the date of issuance.
SEBI Authority and Legal Basis:
- The circular is issued under the authority of Section 11(1) of the Securities and Exchange Board of India Act, 1992.
- The objective is to protect investor interests in securities and regulate the securities market.
Access to Circular:
- The circular is available on the SEBI website under the categories "Legal framework - Circulars" and "Info for - Alternative Investment Funds."
- LINK: https://www.sebi.gov.in/legal/circulars/jan-2024/foreign-investment-in-alternative-investment-funds-aifs-_80593.html
No comments:
Post a Comment