SEBI mollifies ‘ease of doing business’ norms in REITs, InvITs, and AIFs

SEBI mollifies ‘ease of doing business’ norms in REITs, InvITs, and AIFs

The Securities and Exchange Board of India (SEBI) has approved a wide-ranging proposal, including easing fund settlement norms for foreign portfolio investors (FPIs), and changes to regulatory frameworks for market intermediaries.

The committee, constituted to undertake a comprehensive review of the existing provisions, was chaired by former Chief Vigilance Commissioner Pratyush Sinha.

It consented to several recommendations of the high-level committee on ‘conflict of interest’ and disclosures of property, investments, liabilities, and other related matters concerning SEBI officials.

Meanwhile, the market regulator also approved the ‘ease-of-doing-business’ proposals on Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs), and Alternative Investment Funds (AIFs).

The Board has further suggested refurbishing the ‘fit and proper’ person criteria for market intermediaries. This includes removing automatic disqualification triggered by the filing of FIRs, complaints, or charge sheets in economic offence matters.