Page 33 - Latest Updates on SEBI
Sebi fines IAGF, trustee and managers ₹29 lakh for AIF rule breaches
The regulator, in a 39-page order, found the entities guilty of serious lapses in regulatory compliance during the inspection period from April 2021 to March 2022, Sebi said in the order on Friday
 "Sebi fines IAGF, trustee and managers ₹29 lakh for AIF rule breaches")
Sebi plans overhaul of mutual fund rules to aid investors and industry
Existing regulations governing the sector are among the lengthiest and require simplification to keep pace with evolving investor needs and industry innovations, stakeholders said
Sebi proposes rules to govern AI, ML tools used by market participants
Sebi's draft guidelines aim to ensure safe, fair, and transparent use of AI and ML by exchanges, brokers, and mutual funds, with provisions for oversight, testing and privacy
 "Sebi proposes rules to govern AI, ML tools used by market participants")
Sebi to unbundle clearing and trading fees to boost transparency
Explores whether charges paid to exchanges and clearing corporations can be unbundled
 "Sebi to unbundle clearing and trading fees to boost transparency")
'Much-needed relief': Startups on Sebi reforms relaxing ESOP norms
The ease in norms from the Securities and Exchange Board of India (Sebi) comes at a time when multiple Indian startups such as PhonePe, Zepto, Pine Labs
 "'Much-needed relief': Startups on Sebi reforms relaxing ESOP norms")
Sebi allows IAs, RAs to use MFs, overnight funds to meet deposit norms
This would provide IAs and RAs an additional option, along with bank fixed deposits, to comply with regulatory requirements and help in promoting ease of doing business
Capillary Technologies India files DRHP with Sebi, aims to raise ₹430 crore
Capillary Technologies India IPO consists of a fresh issue of equity shares aggregating to ₹430 crore and an OFS of 18.33 million shares
 "Capillary Technologies India files DRHP with Sebi, aims to raise ₹430 crore")
Reverse-flipping and startup IPOs get boost as Sebi relaxes norms
Sebi allows ESOP, convertible security holding at DRHP stage, relaxes PSU delisting, FPI norms; proposes fee transparency, simplifies documents for investors
 "Reverse-flipping and startup IPOs get boost as Sebi relaxes norms")
Sebi clears reforms to ease business for REITs, InvIT structures, bankers
Sebi has also permitted merchant bankers to carry out activities falling outside the purview of the regulator under the same firm. This is subject to certain conditions
Upcoming IPO: PNGS Reva Diamond Jewellery files DRHP with Sebi; details
PNGS Reva Diamond Jewellery aims to raise ₹450 crore through the public offering, which comprises an entirely fresh issue of equity shares with a face value of ₹10 apiece
 "Upcoming IPO: PNGS Reva Diamond Jewellery files DRHP with Sebi; details")
Sebi unveils settlement scheme for NSEL brokers facing regulatory action
This long-awaited move is expected to bring major relief to traders whose funds have been stuck since the NSEL payment crisis in July 2013
 "Sebi unveils settlement scheme for NSEL brokers facing regulatory action")
Sebi eases ESOP rules for startup founders ahead of IPO plans
The move addresses a long-standing concern under existing rules, which bar promoters from holding share-based benefits like ESOPs and require them to liquidate such holdings before the IPO
 "Sebi eases ESOP rules for startup founders ahead of IPO plans")
Initial review of IndusInd and Gensol to be over in 6 months: ICAI
ICAI's FRRB reviewing financials of IndusInd Bank and Gensol Engineering; summit series planned; early warning signs of fraud under review with Sebi and NSE
 "Initial review of IndusInd and Gensol to be over in 6 months: ICAI")
Sebi proposes allowing all KYC agencies to act as accreditation bodies
On faster onboarding of accredited investors, Sebi suggested allowing AIFs to on-board investors as accredited investors on the basis of the AIF managers' due diligence
Sebi asks portfolio managers to remove exaggerated advertisements
In a letter sent to the association of portfolio managers, Sebi directed them to adhere to the code of conduct
Block deal window: Sebi unlikely to revise rules despite elusive deals
Narrow price band of 1% hinders deal execution
 "Block deal window: Sebi unlikely to revise rules despite elusive deals")
Sebi bans Sanjiv Bhasin, 11 others for stock manipulation, fraudulent gains
In its 149-page interim order, Sebi noted that Bhasin was a well-known media guest expert with a huge following on social media
Sebi nod for Tuesday, Thursday expiry of derivatives contracts on NSE, BSE
This marks a swap from the current schedule, where NSE conducts F&O (Futures & Options) expiry on Thursdays and BSE on Tuesdays
 "Sebi nod for Tuesday, Thursday expiry of derivatives contracts on NSE, BSE")
Sunshine Pictures, Lumino, M&B Engineering secure Sebi nod for IPOs
The three firms, which filed their preliminary IPO papers with Sebi during January-February, obtained their observations between June 9 and June 13
 "Sunshine Pictures, Lumino, M&B Engineering secure Sebi nod for IPOs")
Sebi board likely to discuss regulatory reforms at Wednesday meeting
Several of these proposals have already been floated for public consultation, indicating a broader push towards refining the regulatory landscape
 "Sebi board likely to discuss regulatory reforms at Wednesday meeting")