SEBI Extends Periodic KYC Review Timeline For FPIs, Discontinues Separate Confirmation Requirement

The Securities and Exchange Board of India has extended the periodic Know Your Customer (KYC) review timelines for Foreign Portfolio Investors (FPIs), increasing the review period for applicable categories.

Under the revised framework, FPIs currently subject to annual KYC reviews will now be required to undergo such reviews once every two years. Similarly, the review period for FPIs falling under the three year review cycle has been extended to eight years, depending on the applicable category and other criteria.

In a press release dated October 30, SEBI stated that the existing 10 year KYC review period for SWAGAT-FI FPIs would remain unchanged. The existing relaxations available to GS-FPIs will also continue without any modification.

Additionally, SEBI has decided to discontinue the requirement for FPIs to provide a separate confirmation regarding changes in previously submitted information at the time of continuation of registration.

“The measure seeks to rationalise multiple requirements of similar nature, reduce repetitive compliance and ease the compliance burden on FPIs, thereby promoting ease of doing business.”

The provisions will come into effect from December 1, 2026.