SEBI approves new KYC norms for foreign investors

Market regulator Securities and Exchange Board of India (SEBI) on Tuesday approved a revised framework for the settlement of cases and new know-your-customer (KYC) norms for foreign portfolio investors (FPI).

This was among other proposals cleared by the SEBI board at its meeting here.

Chairman Ajay Tyagi told reporters following the board meeting that the SEBI has approved a proposal to allow foreign investors to trade in commodity derivatives market, except for sensitive commodities.

The regulator has also approved a common application form for the registration of FPIs in the domestic markets, he added.

"The revised circular in this regard will be soon issued separately," a SEBI release said.