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Global Banks’ ‘High Risk’ List
July 10 , 2018
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- The main custodian banks shared a list of 25 countries named as “high-risk jurisdictions” with Securities and Exchange Board of India (SEBI) recently.
- China, UAE, Cyprus, and Mauritius, along with 21 other countries have been named as “high-risk jurisdictions” by global banks acting as custodians for foreign funds.
- Large investors and beneficial owners of these funds entering India through high-risk jurisdictions will be highly scrutinized.
- Non-resident Indians and persons of Indian origin will face more obstacles in participating in funds set up in these countries for trading on Indian exchanges.
- SEBI - registered foreign portfolio funds invest in India through 56 countries. Of these, 25 are now considered ‘high risk’.
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