Consider the following statements about Participatory Notes (P-Notes):
1. P-Notes are financial instruments used by foreign investors not registered with SEBI to invest in Indian securities.
2. They are a form of derivative instrument.
3. They are regulated by the Forward Markets Commission (FMC).
Which of the given statements is/are correct?
1
1 only
2
1 and 2
3
1 and 3
4
2 only
5
1, 2 and 3