FAX NO: 91 22 22845776
Circular No. FITTC/CUST/23920/2002 December 06, 2002
All Foreign Institutional Investors and Custodians of Securities
Sub: Discontinuation of reports
This has reference to the circulars issued by SEBI for reporting of FIIs trades/ investments in equity as well as debt through the local custodians by submission of floppies as well as hard copy.
2. SEBI has introduced the facility to directly upload these FIIs trades / investments by the local custodians from their office / site. Custodians have been uploading the same smoothly since September 02, 2002. It has now been decided to discontinue submission of floppy (s)and hard copies of reports in respect of FIIs trades / investments etc. In this regard earlier circulars issued by SEBI in respect of reporting of FIIs trades / investments both in equity and debts stand modified to the extent given below with immediate effect :
I. Daily soft and hard copies of equity and debt report :
These daily reports shall be submitted to SEBI by way of direct uploading by 3.00 p.m. on daily basis.
II. Monthly Portfolio Report (MPR)
Submission of MPR is discontinued. However, Custodian shall ensure that holding of their FII clients are reconciled on monthly basis.
III. Amendment / Cancellation Report
Submission of these reports are discontinued since amendment / cancellation of trades are directly uploaded by the Custodians.
IV. Hand Delivery Trades Reports (HDT)
Submission of HDT reports is discontinued.
3. Other Reports / Correspondences
All other reports such as open offers, buy-back, primary market transactions, etc. which are directly uploaded by the Custodian are not required to be submitted to SEBI. Also, no separate correspondence / letter in this regard be made to SEBI.
4. However, in case of failure to upload any data / reports, FII should ensure that these data / reports are submitted to SEBI by way of both soft and hard copies before the scheduled time.
The custodians of securities are requested to bring the contents of this letter to the notice of their constitutents.
ASST. GENERAL MANAGER