On 13 Septemebr, SEBI clarified position limit on OTC currency derivative.
- Brokers to ensure that positions created in FCY-INR pairs are within position limit.
- Following currencies are involved: USD-INR, EUR – INR, GBP – INR and JPY – INR.
- Single INR position limit for bank brokers higher of 15% total OI pairs, or $200m.
- For non-bank brokers, limit is higher of 15% of total OI across all pairs or $100m.
- Exchanges shall implement a uniform methodology for computing positions limits.
The PFSA issued guidance on alternative asset management funds.
- Guidance followed extensive amendments in 2016, to Polish investment fund act.
- Rule effective, guidance is applied to fund managers, alternative asset managers.
- PFSA reminded companies of permissions, registration requirements, supervision.
Investments
- Must keep in mind thresholds for asset management and composition of portfolio.
- Executives, boards must ensure activities examined and analyzed for compliance.
- Special rules regarding gold, precious metal related alternative investments apply.
- Cited consequence of violating rules, including fines and potential criminal results.