Sebi chief urges FPIs to comply with current taxation laws
The Securities and Exchange Board of India, or Sebi, is contemplating facilitating simpler access for brokers operating from the International Financial Services Centre (IFSC) Gift City. The move comes as Sebi recently extended the deadline for submitting related party transactions (RPT) on an annual basis.
By exploring ways to make it easier for brokers at Gift City to enter the market, Sebi aims to enhance the efficiency and attractiveness of the IFSC. This potential initiative could pave the way for increased participation from brokers looking to capitalize on the benefits of operating from Gift City.
The decision to extend the deadline for submitting RPT annually underscores Sebi’s commitment to ensuring transparency and accountability in the financial sector. By providing a longer period for brokers to report these transactions, Sebi is creating a more robust framework for monitoring and regulating RPTs within the industry.
Industry experts view Sebi’s considerations positively, as they believe that facilitating access for brokers at Gift City could significantly boost the financial services sector. With easier access to the market, brokers operating from Gift City would be better positioned to leverage the strategic advantages offered by the IFSC, thereby attracting more businesses and investments.
Furthermore, by extending the deadline for RPT submissions, Sebi is demonstrating its proactiveness in addressing regulatory requirements while also streamlining processes for market participants. This move is likely to instill greater confidence in the regulatory framework and promote a culture of compliance among brokers and other market entities.
The potential measures being considered by Sebi reflect a comprehensive approach towards enhancing the competitiveness and efficiency of the financial markets in India. By aligning with global best practices and exploring ways to support market participants, Sebi is laying the groundwork for a more dynamic and resilient financial ecosystem.
As Sebi continues to evaluate options for facilitating easier access for brokers at Gift City and extends deadlines for regulatory submissions, market participants are optimistic about the future outlook for the financial services sector. These developments signal a proactive stance by Sebi in addressing market needs and promoting growth and stability within the industry.
Overall, Sebi’s initiatives underscore its commitment to fostering a conducive environment for market participants while upholding the highest standards of transparency and integrity. By prioritizing regulatory compliance and exploring ways to enhance market access, Sebi is playing a critical role in shaping the future of India’s financial markets and bolstering investor confidence in the regulatory framework.
