The Securities and Exchange Board of India (SEBI) on Monday proposed to tighten rules on offshore derivative instruments (ODI) by imposing "regulatory fees" and prohibiting the sales of such products unless they are issued for hedging purposes. In a consultation paper, SEBI proposed that ODI issuers be given till Dec. 31, 2020 to wind down any ODIs issued for speculative purposes. Those undertaken for hedging would be allowed, however.
 

The Securities and Exchange Board of India (SEBI) on Monday proposed to tighten rules on offshore derivative instruments (ODI) by imposing "regulatory fees" and prohibiting the sales of such products unless they are issued for hedging purposes. In a consultation paper, SEBI proposed that ODI issuers be given till Dec. 31, 2020 to wind down any ODIs issued for speculative purposes. Those undertaken for hedging would be allowed, however.