The Securities and Exchange Board of India now permits foreign portfolio investors to execute powers of attorney using digital signatures under the Information Technology Act, 2000. The measure advances SEBI’s continuing digitization of FPI onboarding and is in effect. A digitally signed power of attorney eliminates the need for notarization, apostillization or consularization, procedures that foreign investors identified as time-consuming. The change follows earlier efforts to integrate digital signature functionality into the FPI application process and is intended to reduce physical documentation and onboarding times.
Securities and Exchange Board of India permits digitally signed powers of attorney for foreign portfolio investor onboarding
The Securities and Exchange Board of India now permits foreign portfolio investors to execute powers of attorney using digital signatures under the Information Technology Act, 2000. The measure removes notarization, apostillization and consularization requirements, extending SEBI’s digitization of FPI onboarding.