Sebi seeks to merge 2 rules on debt issuance for easier compliance

Market regulator Sebi has proposed to merge two of its regulations pertaining to the issuance of debt and hybrid securities into a single regulation. These regulations are Issue and Listing of Debt Securities Regulations, 2008, and Issue and Listing of Non- Convertible Redeemable Preference Shares Regulations, 2013.

The regulator proposes to call the new regulation as Sebi Issue and Listing of Non-Convertible Securities Regulations 2021 (NCS).

“The new NCS regulations would ease compliance burden on listed entities, harmonise with the Companies Act, 2013, and maintain consistency with the Sebi (Listing Obligations and Disclosure Requirements) Regulations 2015 (LODR Regulations), SEBI (Debenture Trustees) Regulations and circulars issued thereunder,” the regulator said in a discussion paper on Wednesday.

The regulator said the new regulation will ensure ease of reference and language and also remove redundancies.

Sebi has invited public comments on the draft NCS regulations it has floated.