Sebi issues rules on identification of beneficial ownership
PTI: Mumbai, Jan 25 2013, 01:55 IST
identify the beneficiaries through the identity of the settler of the trust, the trustee, the protector.
The regulator said the beneficiaries would be those having 15 per cent or more interest in the trust and any other natural person exercising ultimate effective control over the trust through a chain of control or ownership.
Sebi has exempted from verifying identities if the client or the owner of the controlling interest is a company listed on a stock exchange, or is a majority-owned subsidiary of such a company.
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