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Securities And Exchange Board Of India
Capital markets regulator Sebi has barred seven individuals from securities markets for allegedly running a coordinated pump-and-dump scheme across social media platforms and making unlawful gains of over Rs 20.25 crore. Apart from the debarment, the regulator has also directed finfluencer Hemant Gupta and his sons, Rohan Gupta and Aniket Gupta, to immediately cease and desist from offering unregistered research analyst services or from portraying themselves as research analysts. In a 234-page interim order passed on May 22, Sebi alleged that Hemant, Rohan and Aniket acted as "Operators" who first accumulated positions in thinly traded SME stocks and later circulated bullish stock recommendations on social media platforms to inflate prices, before selling their holdings at a profit. Four other family members Sharon, Leana, Rajani and Purvangi Gupta allegedly facilitated the operation by allowing the use of their trading accounts or by executing trades on the operators' instruction
SEBI whole-time member Amarjeet Singh on Saturday said the regulator is undertaking a comprehensive review of the Portfolio Management Services (PMS) framework in consultation with industry body Association of Portfolio Managers in India (APMI) to "re-ignite growth" in the segment. Addressing the Wealth and Capital Market Summit organised by the Indian Chamber of Commerce, Singh said SEBI would soon float a consultation paper on the proposed reforms. "We are undertaking a comprehensive review of PMS and are engaged with APMI for consultations to re-ignite growth in this space. A consultation paper will be floated soon," Singh said. He also said the Securities and Exchange Board of India (SEBI) is currently in the consultation stage on issues related to donation, gifting and third-party payments in mutual funds, as the regulator seeks to balance investor convenience with anti-money laundering safeguards. SEBI's consultation paper issued on May 20 proposed a calibrated relaxation of
India's leading commodity bourse Multi Commodity Exchange (MCX) said on Monday it has received approval from markets regulator SEBI to invest in a proposed coal exchange company. MCX, which received the Securities and Exchange Board of India's approval on April 17, plans to incorporate a new wholly owned subsidiary, likely to be named MCX Coal Exchange Ltd or MCX Coal Exchange of India Ltd, according to a regulatory filing. The exchange said it will commit capital of up to Rs 100 crore to the new subsidiary to meet minimum net worth requirements under draft Coal Exchange Rules, and will initially hold a 100 per cent stake, with the option to bring in strategic partners at a later stage. The new entity will provide a transparent, standardised digital platform for the physical delivery of coal at market-driven prices, and will submit an application to the Coal Controller Organisation of India once prescribed timelines are in place. The move builds on MCX's existing energy derivative
Markets regulator Sebi has extended the registration validity for not-for-profit organisations on the Social Stock Exchange, allowing their enrolment as NPOs for three years without raising funds, and lowered the minimum subscription requirement for issuing Zero Coupon Zero Principal Instruments (ZCZP). The moves are aimed at promoting the SSE (Social Stock Exchange) and facilitating ease of fundraising and encouraging greater participation by NPOs, Sebi said in its circular on Wednesday. Sebi has extended the validity period to three years from the existing two years, during which NPOs can remain registered on the SSE without raising funds. Sebi has taken into account practical challenges faced by NPOs, including delays in statutory and regulatory approvals. "It is being specified that a NPO may register on a SSE and not raise funds through it for a period of two years from the date of registration. Such period of two years may be further extended by one additional years subject t