Sebi had alleged that the agency had granted Category II licences to 4 FPIs from the United Kingdom though the FPIs weren’t within the register of regulated entities maintained by the Financial Conduct Authority, UK.
J.P. Morgan Chase Bank N.A. has settled a matter involving alleged violations of international portfolio investor (FPI) rules with the Securities and Exchange Board of India (Sebi) for Rs 34.42 lakh.
Sebi had alleged that the agency had granted Category II licences to 4 FPIs from the United Kingdom though the FPIs weren’t within the register of regulated entities maintained by the Financial Conduct Authority, UK.
Further, the 4 FPIs have been re-categorised as Category I with out figuring out that they weren’t regulated by the UK FCA.
Sebi’s findings additionally confirmed that there was an alleged delay in advising recent registration of an FPI after a merger with one other entity, whereas the FPI’s account was blocked for recent purchases with a delay of 38 days. J.P. Morgan Chase Bank N.A. filed for settlement with out admitting or denying the findings.
First Published: Mar 20 2026 | 7:18 PM IST