Sebi Proposes Streamlined Onboarding for FPIs with Abridged CAF

To streamline the onboarding process for Foreign Portfolio Investors (FPIs), Sebi has proposed an abridged version of the Common Application Form (CAF) that only requires unique applicant information. Most fields will be auto-filled or disabled based on existing depository records, saving time and effort for applicants.

In a move to streamline the onboarding process for Foreign Portfolio Investors (FPIs), the Securities and Exchange Board of India (Sebi) has proposed an abridged version of the Common Application Form (CAF). This new version will require only information unique to each applicant, significantly reducing duplication.

The remaining fields in the CAF will either be auto-filled from depository records or disabled if not applicable. Applicants will need to confirm that their previously provided information remains unchanged, according to Sebi's consultation paper released on Tuesday.

Sebi observed that much of the relevant information for certain categories of FPI applicants, such as multiple funds under an Investment Manager or sub-funds of a master fund, is already available in depositories' CAF modules. By leveraging this existing data, the regulator aims to save significant time and effort for applicants during the review and signing process. The public is invited to comment on these proposals until October 15.