HALISTER1: India Offshore Rules to Strengten Market, Khaitan’s Ajinkya Says

India Offshore Rules to Strengten Market, Khaitan’s Ajinkya Says

(Bloomberg) -- Regulator SEBI’s offshore derivative rule changes are further step toward making capital markets more robust, Khaitan & Co. partner Bijal Ajinkya tells Bloomberg.
  • Rules will encourage direct market access from overseas investors instead of through intermediate issuances, Ajinkya says in phone interview
  • Rule change is step toward tracking money laundering, curbing “black money”
  • Stricter know your customer rule, which identifies ultimate beneficial owner, will increase ODI costs and processing time
  • Regulatory framework of tracking intermediate transfers leads to higher accountability on issuer of ODIs
  • NOTE: India SEBI Approves Tighter Rules for Offshore Derivatives
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Source: BFW (Bloomberg First Word)

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