Reporting on Indian securities lent by FIIs discontinued
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Reporting on Indian securities lent by FIIs discontinued 30 March 2011Mumbai Reporter: Ben Wilkie
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The Securities and Exchange Board of India (SEBI) has announced that the reporting on Indian securities lent by FIIs to entities abroad will cease from today.
Presently, FIIs lending securities to entities other than in the Indian Securities Market (ie, where overseas derivative instruments are issued which has the effect of a short sale or synthetic short sale) are required to report the information to SEBI on a weekly basis.
SEBI has confirmed that no short positions are currently being reported by FIIs and as a result the requirement to submit the weekly report has been discontinued, although the activity of synthetic short sales remains.
The prohibition on the activity of synthetic short sales continues.
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