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      Question

      The Securities and Exchange Board of India (SEBI) has

      mandated the submission of legal entity identifier (LEI) details for all non-individual foreign portfolio investors (FPIs).Ā  However, all existing FPIs have been directed to update their LEI with designated depository participants (DDPs) within _______months; failure to do so will lead to the blocking of their accounts.
      A 6 Correct Answer Incorrect Answer
      B 8 Correct Answer Incorrect Answer
      C 9 Correct Answer Incorrect Answer
      D 11 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      The Securities and Exchange Board of India (SEBI) has mandated the submission of legal entity identifier (LEI) details for all non-individual foreign portfolio investors (FPIs).Ā Ā  LEI is a unique 20-character code used globally to identify distinct financial entities.Ā  Currently, LEI is only sought voluntarily during registration and know-your-customer (KYC) formalities. However, all existing FPIs have been directed to update their LEI with designated depository participants (DDPs) within six months; failure to do so will lead to the blocking of their accounts.Ā Ā  Furthermore, all fresh registrations will also mandatorily require LEI submission. Accounts of FPIs with lapsed LEIs will be blocked until they are renewed.

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