Page 24 - Sebi Norms

Sebi bars SecUR Credentials, managing director for alleged fund diversion

The market regulator has alleged the diversion of the company's funds to the promoter, directors including independent directors, and other entities by the MD

Sebi to auction 19 properties of KBCL India to recover investors' money

Capital markets regulator Sebi has lined up 19 properties of KBCL India Ltd for auction on July 16 to recover money illegally collected from investors. The move is part of Sebi's effort to recover investors' money. The regulator has initiated the process for the sale of assets after KBCL India Ltd, its directors Rakesh Kumar, Vishvnath Pratap Singh and Shashi Kant Mishra failed to refund the investors' money. The properties include land parcels and a plot in Uttar Pradesh and they will be auctioned at a reserve price of Rs 3.54 crore, according to a notice issued by the Securities and Exchange Board of India (Sebi) on Wednesday. Quikr Realty has been engaged by Sebi to assist it in the sale of properties, while C1 India has been appointed as the e-auction service provider. As per the notice, the regulator said bidders should make their own independent enquiries regarding the encumbrances, litigations, attachments and acquisition of liabilities of the property put on auction, prior

Bhavish Aggarwal's Ola Electric gets Sebi approval for Rs 7,250-crore IPO

Sebi's approval, coupled with a buoyant market, could potentially enable the company to launch its IPO within a month

Sebi's proposed tweaks likely to lead to big churn in F&O stocks

Analysts foresee over two dozen exits and 75 entrants

Following HC order, Sebi to auction 22 properties of 7 companies on July 10

Markets regulator Sebi on Monday said it has lined up 22 properties of seven companies -- including Pailan Group, Vibgyor Group and GBC Industrial Corp group -- for auction on July 10 to recover money illegally collected from investors. Other firms, whose properties will also be auctioned, are Tower Infotech Group, Waris Group, Teachers' Welfare Credit and Holding Group, and Annex Infrastructure India Ltd. The regulator has initiated the process for the sale of assets of the companies as per orders by the Calcutta High Court. Justice Sailendra Prasad Talukdar has been appointed as the one-man committee for liquidating the assets of the firms and repaying the investors. The move is part of Sebi's effort to recover investors' money. The properties include plots and a flat in West Bengal and they will be auctioned at a reserve price of Rs 45.47 crore, according to a notice issued by the Securities and Exchange Board of India (Sebi). Adroit Technical Services Ltd has been engaged by t

Sebi junks rule to freeze demat a/cs, eases MF folio norm for investors

Capital markets regulator Sebi on Monday eased rules for existing investors with abolishing the norm of freezing demat accounts and mutual fund folios in case of failure to provide a 'choice of nomination'. Additionally, investors holding securities in physical form would be eligible for receipt of any payment, including dividend, interest or redemption payment as well as to lodge grievances or avail any service request from the RTA (Registrars to an Issue and Share Transfer Agents) even if they did not submit 'choice of nomination'. Earlier, the regulator set June 30, 2024, as the deadline for all existing individual mutual fund holders to nominate or opt out of nomination. Failure to comply with the rule could have led to the freezing of their accounts for withdrawals. Based on representations received from the market participants, for ease of compliance and investor convenience, Sebi has decided that for existing investors or unitholders, non-submission of 'choice of nomination'

Sebi signals change with tougher futures and options stock rules

New framework may displace low-turnover stocks, introduce market heavyweights

Plea asks SC to direct govt, Sebi to probe market crash after poll results

The application, filed by Advocate Vishal Tiwari, also asked the court to direct Sebi to submit the investigation report of allegations made against the Adani group by US-based Hindenburg Research

Mkt regulator Sebi's warning to ICICI Bank over ICICI Securities delisting

Shareholders of the brokerage firm complained that bank officials sought screenshots and influenced them to vote in favour

Mutual fund investment platforms face ire over delay in unit allotment

Zerodha says issue at payment aggregator, Groww cites delay in money movement

Sebi asks KRAs to integrate systems with Central KYC Records Registry

Capital markets regulator Sebi on Thursday directed the KYC Registration Agencies to integrate their systems with Central KYC Records Registry and begin the uploading of KYC data from August 1. The KYC record of a client is uploaded on the system of KYC Registration Agencies (KRAs) by the intermediaries performing client due diligence. Additionally, the KYC information is uploaded on Central KYC Records Registry (CKYCRR) by the intermediaries. In a circular, Sebi asked registered intermediaries to continue to upload or modify the KYC information with proper authentication on the systems of KRA. Further, KRAs will upload the verified or validated KYC information onto the system of CKYCRR within seven days of receiving the same from intermediaries. "The KRAs shall integrate their systems with CKYCRR and commence the uploading of KYC records on CKYCRR from August 1, 2024," Sebi said. Further, KRAs will ensure that existing KYC records of legal entities and of individual clients are

Sebi to penalise stock exchanges for any lapses in surveillance

Under the new framework effective July 1, Sebi will impose penalties in case of surveillance-related lapses on stock exchanges, clearing corporations, and depositories

Sebi relaxes timelines for FPIs to make material event disclosures

Markets regulator Sebi on Wednesday relaxed timelines for disclosure of material changes by Foreign Portfolio Investors (FPIs). The regulator categorised material changes notified by FPIs into two groups. Type I group includes changes that require FPIs to seek fresh registration, or which affect any privileges or exemptions available to such foreign investors and Type II includes all other material changes. In its circular, Sebi said that FPIs are required to report Type I changes within seven working days and provide supporting documents within 30 days and Type II changes require notification and supporting documents within 30 days. At present, FPIs get up to seven working days to submit information to the watchdog with regard to any material change in its structure or ownership or control or investor group. Some of the Type 1 material changes include change of jurisdiction; name change on account of acquisition, merger, demerger, and ownership. Type II is any material changes oth

Sebi committee to review ownership structure of clearing corporations

Panel chaired by former RBI deputy governor to suggest alternatives to ensure capital needs of clearing corporations

Sebi seeks additional IPO disclosures to speed up clearance process

After a co files for IPO, Sebi may seek additional details from merchant bankers, and the companies can also file addendums to their draft documents based on clarifications sought by market regulator

Investing in g-secs; building small portfolio: Top personal finance stories

Our top stop stories this week tell you about the pros and cons of government securities and what investors must know about compounding

Market regulator Sebi issues guidelines on settlement penalties

Under the norms, entities can settle a matter by paying an amount, usually decided by a committee of Sebi

Sebi asks clearing corporations to diversify their bank exposure

Regulator also tweaks norms on collateral and liquid assets

Sebi tweaks framework for clearing firms on liquid assets as collateral

Capital markets regulator Sebi has tweaked guidelines for accepting liquid assets as collateral by clearing corporations (CCs) and put in place prudential norms for exposure of such entities in a bid to strengthen the risk management framework. Clearing corporations accept liquid assets with applicable haircuts to meet the requirements for initial margins and mark to market losses among others. In its circular, the regulator said that units of growth plan of overnight mutual fund schemes would be accepted as cash equivalent by CCs with a haircut of 5 percent and for other plans of overnight mutual fund schemes, the hair cut of 10 percent would continue to be applicable. Overnight mutual funds invest only in overnight securities having maturity of one day. Further, equity shares with impact cost of up to 0.1 percent for an order value of Rs 1 lakh and traded for 99 percent of days over the period of previous six months would be accepted as part of other liquid assets, it said. "In

Sebi reduces approval time to 7 days for brokers for internet-based trading

Markets regulator Sebi on Thursday significantly reduced the time taken by stock exchanges for granting approval to stock brokers for internet-based trading to seven days from the current 30 days. The move is aimed at facilitating ease of doing business. Under the rule, the broker is required to apply to the respective stock exchange for a formal permission to provide internet-based trading service. Further, the stock exchange, which was required to communicate its decision to the member within 30 calendar days, will now have to do so within 7 days, the Securities and Exchange Board of India (Sebi) said in its circular. The internet trading can take place through order routing systems, which will route client orders to exchange trading systems for execution. Thus a client sitting in any part of the country can trade using the internet as a medium through brokers' internet trading systems. Additionally, the regulator has abolished the existing requirement of periodic confirmation