Sebi had alleged that the firm had granted Category II licences to four FPIs from the United Kingdom even though the FPIs were not in the register of regulated entities maintained by the Financial Conduct Authority, UK.
J.P. Morgan Chase Bank N.A. has settled a matter involving alleged violations of foreign portfolio investor (FPI) regulations with the Securities and Exchange Board of India (Sebi) for Rs 34.42 lakh.
Sebi had alleged that the firm had granted Category II licences to four FPIs from the United Kingdom even though the FPIs were not in the register of regulated entities maintained by the Financial Conduct Authority, UK.
Further, the four FPIs were re-categorised as Category I without identifying that they were not regulated by the UK FCA.
Sebi’s findings also showed that there was an alleged delay in advising fresh registration of an FPI after a merger with another entity, while the FPI’s account was blocked for fresh purchases with a delay of 38 days. J.P. Morgan Chase Bank N.A. filed for settlement without admitting or denying the findings.
First Published: Mar 20 2026 | 7:18 PM IST
