ANSWER: Both of the above
Explanation:
As SEBI readies to tighten its rules for controversy-ridden P-Notes, major foreign investors including JPMorgan, HSBC, UBS and Goldman Sachs have supported the proposed provisions for immediate reporting of any breach to the regulator and filing of suspicious transaction reports.In a representation before the capital markets regulator, these investors said the fund managers invest money on behalf of many investors and that needs an entity to pool such investments.
- They also said the establishment of funds in Cayman Islands is independent of their decision to invest in India as these funds invest globally and India is “often just one part of their portfolio.”
- Cayman Islands is followed by Mauritius (11.09 per cent) as the second-biggest location for end-beneficial owners of ODIs.
