At the centre of the reform is a plan to overhaul the FPI registration process. Sebi has suggested a new abridged application mechanism for specific categories of investors — including funds managed by an investment manager already registered as an FPI, sub-funds of an existing master fund, segregated share classes and insurance schemes linked to an entity that already holds an FPI licence.
Sebi’s new FPI overhaul: What the regulator has proposed in its consultation paper
