Answer-The Securities and Exchange Board of India (SEBI) has mandated the submission of legal entity identi...

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. LEI is a unique 20-character code used globally to identify distinct financial entities. 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. Furthermore, all fresh registrations will also mandatorily require LEI submission. Accounts of FPIs with lapsed LEIs will be blocked until they are renewed.

Question

The Securities and Exchange Board of India (SEB

I has mandated the submission of legal entity identifier (LE
I details for all non-individual foreign portfolio investors (FPIs). 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.