Securities And Exchange Board Of India - Subsection
Section 31(1) in Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019
(1)All designated depository participants who have been granted approval by the Board shall -(a)comply with the provisions of these regulations, as far as they may apply, circulars issued thereunder and any other terms and conditions specified by the Board from time to time;(b)forthwith inform the Board in writing, if any information or particulars previously submitted to the Board are found to be false or misleading, in any material respect;(c)forthwith inform the Board in writing, if there is any material change in the information previously furnished by him to the Board;(d)furnish such information, record or documents to the Board and Reserve Bank of India, as may be required, in relation to its activities as a designated depository participant;(e)ensure that only registered foreign portfolio investors are allowed to invest in securities market;(f)have adequate systems to ensure that in case of jointly held depository accounts, each of the joint holders meet the requirements specified for foreign portfolio investors and shall perform KYC due diligence for each of the joint holders;(g)in case of any penalty, pending litigation or proceedings, findings of inspections or investigations for which action may have been taken or is in the process of being taken by any regulator against a designated depository participant, the designated depository participant shall bring such information forthwith, to the attention of the Board, depositories and stock exchanges;(h)be guided by the relevant circular on Anti-Money Laundering or Combating the Financing of Terrorism specified by the Board from time to time.
