Section 28 in Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014
28. Appointment of compliance officer.
(1)Every foreign portfolio investor shall appoint a compliance officer who shall be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines and instructions issued by the designated depository participant or the Board or the Central Government:Provided that in case of a foreign portfolio investor who is an individual, such individual shall be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines and instructions issued by the designated depository participant or the Board or the Central Government.(2)The compliance officer shall immediately and independently report to the Board and the designated depository participant regarding any non-compliance observed by him.
