Custodians will have more power in securing first-time foreign investment under the proposed Foreign Portfolio Investment regime in India, but are seeking a more defined role.
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South African Sanlam's $111 million share purchase in an Indian firm has drawn attention to the appeal of the country's QFI scheme, offering foreign investors quicker time to market.
Finance Minister P. Chidambaram tells AsianInvestor that streamlining technical barriers for foreign portfolio investors is a priority.
The French firm did not comply with regulations on treating clients as professional investors nor keeping adequate records of investment advice to customers between 2004 and 2010.
