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ARTICLE · 27 FEBRUARY 2020

Status Quo For Mauritius Based FPIs - No Need To Panic

Khaitan & Co.
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On 21 February 2020, FATF issued a list of ‘jurisdictions under increased monitoring', popularly known as the ‘grey list' and to the dismay of several foreign portfolio investors, Mauritius ended up featuring in this list ...

IndiaGovernment, Public Sector
Siddharth Shah
Siddharth Shah
Rohit Jayaraman
Rohit Jayaraman
Khusboo Agarwal
Khusboo Agarwal
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On 21 February 2020, the Financial Action Task Force (FATF) issued a list of 'jurisdictions under increased monitoring', popularly known as the 'grey list' and to the dismay of several foreign portfolio investors (FPIs), Mauritius ended up featuring in this list alongside 17 other jurisdictions, for the first time.

This led to panic amongst the FPI investors since the eligibility criteria required to be met by any person to register as a foreign portfolio investor under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations 2019 (FPI Regulations) include that such person should not have 25% or more investors by value or controlling investors from jurisdictions identified by the FATF as:

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