Market regulator Sebi revised the reporting timeline for Foreign Institutional Investors (FIIs) dealing in Participatory Notes (PNs). On a review, it has been decided to revise the reporting timelines, Sebi said in a circular.
As per the revised circular, FIIs issuing Overseas Derivative Instruments (ODIs) or PNs shall submit details of such transaction report along with the monthly summary report by 10th of every month for previous month, it said.
The first such report shall be submitted for the month of October 2012 by November 10, 2012. As per the existing guideline, the reporting had to be done by 7th of every month for the previous month transaction.
ODIs have Indian equity or debt as underlying securities and are issued by registered FIIs or sub-accounts to clients abroad. The details of ODI/PN transaction report for month of December 2011 to April 2012 shall be submitted with six months lag.
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