India’s markets regulator is in talks to bring family offices under its oversight as the country’s billionaires wield growing influence in stock markets, Bloomberg reported on Friday, citing people familiar with the matter.
The Securities and Exchange Board of India (SEBI) has discussed requiring family offices to disclose entities, assets, and returns for the first time, as well as creating a separate regulatory category for such vehicles, the report said.
Officials have sought written submissions from some of India’s largest family offices after meetings earlier this year, though the scope and timing of new rules remain unclear, Bloomberg reported.
Family offices tied to tycoons such as Mukesh Ambani, Gautam Adani, and Wipro (NSE:WIPR) founder Azim Premji have become major investors in equities, private equity, and IPOs. SEBI is also considering allowing them to qualify as institutional buyers in share sales, the report added.
Source :
https://www.investing.com/news/stock-market-news/indias-sebi-weighs-oversight-of-family-offices-as-billionaires-expand--bloomberg-4269653
