Schedule-03 - Code of conduct - Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019

THIRD SCHEDULE SECURITIES AND EXCHANGE BOARD OF INDIA (FOREIGN PORTFOLIO INVESTORS) REGULATIONS, 2019 CODE OF CONDUCT [See regulation 23 ] 1. A foreign portfolio investor and its key personnel shall observe high standards of integrity, fairness and professionalism in all dealings in the Indian securities market with intermediaries, regulatory and other government authorities. 2. A foreign portfolio investor shall, at all times, render high standards of service, exercise due diligence and independent professional judgment. 3. A foreign portfolio investor shall ensure and maintain confidentiality in respect of trades done on its own behalf or on behalf of its clients. 4. A foreign portfolio investor shall ensure the following (a) Clear segregation of its own money and securities and that of its client's money and securities. (b) Arm s length relationship between its business of fund management/investment and its other business. 5. A foreign portfolio investor shall maintain an appropriate level of knowledge and competency and abide by the provisions of the Act, regulations made thereunder and the circulars and guidelines, which may be applicable and relevant to the activities carried on by it. Every foreign portfolio investor shall also comply with award of the Ombudsman and decision of the Board under Securities and Exchange Board of India (Ombudsman) Regulations, 2003 . 6. A foreign portfolio investor shall not make any untrue statement or suppress any material fact in any documents, reports or information to be furnished to the designated depository participant and/or Board. 7. A foreign portfolio investor shall ensure that good corporate policies and corporate governance policies are observed by it. 8. A foreign portfolio investor shall ensure that it does not engage in fraudulent and manipulative transactions in the securities listed in any stock exchange in India. 9. A foreign portfolio investor or any of its directors or managers shall not, either through its/his own account or through any associate or family members, relatives or friends indulge in any insider trading. 10. A foreign portfolio investor shall not be a party to or instrumental for a) creation of false market in securities listed or proposed to be listed in any stock exchange in India; b) price rigging or manipulation of prices of securities listed or proposed to be listed in any stock exchange in India; c) passing of price sensitive information to any person or intermediary in the securities market. AJAY TYAGI, Chairman [ADVT.-III/4/Exty./222/19]