Stricter KYC, disclosure regime for P-Notes : SEBI
Under the new norms, all the users of ODIs would have to follow Indian KYC and AML (Anti Money Laundering) Regulations, irrespective of their jurisdictions, while the ODI issuers will be required to file suspicious transaction reports, if any, with the Indian Financial Intelligence Unit, in relation to the ODIs issued by them.
The new norms follows approval from the regulator's board to amend its regulations for Offshore Derivative Instruments (ODIs). Photo : Wikipedia