MUMBAI: India's capital market regulator said on Thursday issuers of offshore derivative instruments, would need to register their investors under the current know-your-customer process in a bid to prevent suspected illegal funds from flowing into the country.
The Securities and Exchange Board of India (SEBI) also tightened rules for transferring ownership of these offshore instruments to other investors while mandating that issuers must report suspicious transactions with regulators.
The rules were announced after the conclusion of its quarterly board meeting in Mumbai.