(1) A foreign portfolio investor, or any of its employees shall not render directly or indirectly any investment advice about any security in the publicly accessible media, whether real-time or otherwise, unless a disclosure of its interest including long or short position in the said security has been made, while rendering such advice.
(2) In case, an employee of the foreign portfolio investor is rendering such advice, he shall also disclose the interest of his dependent family members and his employer including their long or short position in the said security, while rendering such advice.
Maintenance of proper books of accounts, records and documents.
29. Every foreign portfolio investor shall maintain the following books of accounts, records and documents, namely –
(a) true and fair accounts relating to remittances of funds to India for buying and selling;
and realising capital gains or losses on investment made from such remittances;
(b) bank statement of accounts;
(c) contract notes relating to purchase and sale of securities; and
(d) communication including in electronic mode from and to the designated depository participants, stock brokers and depository participants regarding investments in securities.
Preservation of books of accounts, records and documents.
30. Subject to the provisions of any other law, for the time being in force, every foreign portfolio investor shall preserve the books of accounts, records and documents specified in regulation 29 for a minimum period of five years from the date of approval of the surrender or cancellation of registration by the Board.
CHAPTER VI GENERAL OBLIGATIONS AND RESPONSIBILITIES OF DESIGNATED DEPOSITORY PARTICIPANTS Obligations and responsibilities of designated depository participants.