Page 30 - Sebi Norms

Adani Wilmar promoters to divest stake by 1.24% for Sebi compliance

Adani Commodities and Lence Pte, the promoters of the company, will be divesting part of their shareholding, Adani Wilmar said in an exchange filing

Sebi proposes implementation of T+0 settlement cycle in two phases

The shorter cycle to be optional; T+1 to remain available

Need a Sebi-like regulator for social media platforms: BJP MP in RS

A SEBI-like regulatory body is needed for social media platforms to curb growing deepfakes and synthetic videos, BJP MP Sushil Kumar Modi demanded in Rajya Sabha on Thursday. Raising the issue through a Zero Hour mention, he said deepfake videos and synthetic videos are threatening democracy in the country. "There is a lot of disinformation... People don't have tools to verify," he said, adding women are soft targets of deepfakes. While an app is in circulation that can generate a nude picture of any fully dressed person, digitally altered faces of celebrities like Shah Rukh Khan are being used to promote betting platforms. "This is a new threat to democracy," Modi said, adding the government should ask social media companies to detect, remove, strengthen reporting and create public awareness about the new phenomenon. "Self regulation for social media is not sufficient. SEBI-like regulatory body needs to be set up for social media platforms," he added. While Anil Baluni of the BJ

Sebi introduces SaaS model for clearing corps to boost business continuity

To strengthen the business continuity framework of clearing corporations for handling major software malfunctions, Sebi on Wednesday asked them to establish their critical Risk Management Systems (RMS) using a software-as-a-service (SaaS) model. RMS plays an important role in ensuring smooth and uninterrupted functioning of the securities market by carrying out online real-time risk management of trades happening on stock exchanges. Non-availability of RMS poses a major risk to the continuity of trading on stock exchanges. In the first phase, systems would be designed to provide an additional tool for business continuity in case of issues with RMS of clearing corporations, Sebi said in a circular. "In order to further manage disruptions impacting availability of RMS, it is proposed to have another contingency measure in place under Software as a Service (SaaS) model," Sebi said. The framework in the first phase would operate for existing interoperable segments of CCs -- cash marke

Sebi tweaks norms for online resolution of disputes in securities market

Sebi on Wednesday tweaked the framework with respect to online resolution of disputes in the securities market to provide clarity on certain aspects. In its circular, the regulator has provided clarity on the online arbitration process, and arbitrator's fee, among others. The Securities and Exchange Board of India (Sebi) said that the market participant against whom the investor pursues the online arbitration will participate in the arbitration process. Accordingly, within 10 days of the initiation of the online arbitration by the investor, the market participant will make the deposit of 100 per cent of the admissible claim value with the relevant MII (market infrastructure institutions) and make the payment of the fees for online arbitration. Non-adherence to rule by market participants may result in action against them by MIIs or Sebi. In case the market participants plan to pursue online arbitration then they will have to inform the ODR (Online Dispute Resolution) institution .

RBI issues advisory to banks, financial cos to curb evergreening via AIFs

According to the RBI advisory, banks, NBFCs, and other financial institutions like Nabard and Sidbi will not be able to make investments in any scheme of AIFs which has downstream investments

Sebi likely to relax new disclosure norms around rumour verification

Legal experts said that as such disclosures will have a bearing on stock prices there is a need for tweaks in regulations addressing fraudulent trade practices

Demat account holders can furnish nomination declarations by Jan 1, 2024

The Securities and Exchange Board of India (Sebi) stated that those who fail to do so will not be able to transact in stocks

Sebi extends deadline for AIFs dematerialisation till January 31

Sebi has specified the process to be followed in cases where the investors have yet to provide the demat account details to AIFs

Sebi specifies process to follow for dematerialising units of AIFs

Capital markets regulator Sebi on Monday specified the process to be followed for dematerialising the units issued, in cases where investors are yet to provide demat account details to Alternative Investment Funds (AIFs). Under the rules issued in June, AIFs with a corpus of Rs 500 crore or more were required to dematerialise all issued units by October 31, 2023. Further, these AIFs will have to issue units only in dematerialised form from November 1, 2023, onwards. Similarly, AIFs with less than Rs 500 crore corpus will have to dematerialise issued units by April 30, 2024, and issue only dematerialised units May 1 onwards. The dematerialisation of AIF units is seen as a significant move towards digitisation, fostering transparency, and enabling effective monitoring of transactions in the financial landscape. In a circular on Monday, Sebi said managers of AIFs will continue to reach out to existing investors to obtain their demat account details and credit the units issued to them

Sebi likely to allow non-convertible debentures with lower face value

Further, these issuances will only be interest or dividend-bearing instruments with a simple structure

Sebi looks to introduce new 'high-risk' investment vehicle, says Buch

The proposed category will likely have a higher minimum investment threshold but lower than that of PMS

SAT sets aside market regulator Sebi's order against IIFL Securities

Sebi alleged that IIFL Securities failed to segregate clients' funds and mixed its own funds with it

Ready to relook at some AIF norms if assured of no misuse: Sebi official

Ananth Narayan said that RBI has agreed with Sebi's assessment on circumvention by AIFs

Sebi removes NSDL IPO from abeyance; Oil drops close to July low

Inox India's and Stanley's IPO comprise secondary share sale of 22.11 million and 9.13 million shares, respectively

Jindal Saw, others settle matter; dispute resolution platform from April

The Securities and Exchange Board of India (Sebi) has exte­nded the timeline for implem­enting online dispute resolution (ODR) platform to April 2024

SCORES: Sebi extends deadline for implementation of new norms till Apr 2024

Markets regulator Sebi on Friday extended the deadline till April 1, 2024 for the implementation of the framework for handling complaints received through the SCORES platform for registered entities and for monitoring such grievances by designated bodies. The guidelines were come into force from December 4. The designated bodies are required to apply for SCORES authentication and/or for Application Programming Interface (API) integration with SCORES within a specified time period. "It has been decided to extend the effective date of implementation of the provisions to April 1, 2024," the Securities and Exchange Board of India said in a circular. In September, Sebi came out with a circular with respect to handling complaints received through SCORES platform for registered entities and for monitoring such grievances by designated bodies. Under the guidelines, all entities, including companies, that received complaints of investors through SCORES, will have to resolve them within 21

Market regulator Sebi mulls tweaks to help AIFs buy stressed assets

The RBI had communicated to Sebi a list of requirements in the framework including SSFs in its master directions

Kedaara Capital backs decision made on ESOPs issued to Religare Chairperson

Religare Enterprises on Monday said that Kedaara Capital, the largest shareholder of Care Health Insurance, backed the decision made by the board to issue ESOPs to Religare Chairperson Rashmi Saluja. The clarification comes amid allegations by the Dabur family, which is trying to obtain a controlling stake in Religare Enterprises Ltd (REL), that Saluja allegedly violated IRDAI and Sebi norms. REL is the promoter of Care Health Insurance and Saluja is chairperson of the insurer as well. "Kedaara is a proud shareholder of Care Health Insurance. Led by a best-in-class management team and guided by a strong board, the company has always had the highest standards of governance, compliance and operational excellence," Kedaara Capital Managing Partner Sunish Sharma said in a statement. "We look forward to continuing to support it as it goes from strength to strength," it added. Burman family -- the promoters of Dabur -- has filed a complaint with regulatory authorities seeking a probe in

Small and medium REITs: Most players ready for a shift to new Sebi rules

Most existing players said that Sebi's proposed framework will help reach a wider audience and help lower costs