India Tweaks Rule Forcing More Overseas Funds to Disclose Owners

India’s securities market regulator tightened disclosure norms for large foreign portfolio investors and those with a majority of their investments in a single Indian business group.

The new regulation demands disclosure of all beneficial owners of foreign investors with more than 250 billion rupees ($3 billion) invested in Indian equities or have more than 50% of equity assets under management invested in a single corporate group, Securities and Exchange Board of India said in a statement after a board meeting Wednesday.