SEBI Settles Proceedings with JPMorgan Over FPI Compliance Lapses

The Securities and Exchange Board of India has settled proceedings against JPMorgan Chase Bank over compliance lapses related to foreign portfolio investor regulations after the bank paid Rs 34.42 lakh.

The settlement followed an application filed by the bank under the regulator’s framework, allowing resolution without admission or denial of findings. The amount was reviewed by the High-Powered Advisory Committee and approved by whole-time members, with payment confirmed in February 2026. The case involved the grant of FPI registrations to entities not classified as regulated by the UK regulator, reclassification of such entities under revised rules without verification, and a delay in acting on structural changes in an investor entity.

SEBI said no enforcement action will follow for these violations under the settlement. It added that the matter can be reopened if disclosures are found incorrect or the conditions of the settlement are not met.