Page 33 - Sebi Norms

Sebi slaps Rs 65 lakh fine on 13 firms for indulging in non-genuine trades

Capital markets regulator Sebi has imposed Rs 65 lakh fine on 13 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE. In 13 separate orders on Wednesday, the regulator slapped a fine of Rs 5 lakh each on Kalyan Devi Bothra, Kalpesh Udani HUF, Kallol Kutir Pvt Ltd, Jyotiben Prakashkumar Shah, Jyoti Patawari, Jyoti Kariwala, Jupiter Industries and Jugmug Sales Pvt Ltd. The other entities to be fined by Sebi were Jitendra Rameshbhai Patel, Jugal Kishore Gupta, Kajal Agarwal, JIT Finance Pvt Ltd and Jayshriben Dhirendrakumar Maniar. The order came after the regulator observed large-scale reversal trades in the illiquid stock options segment on the BSE, leading to artificial volumes on the exchange. Further, the regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. The entities to be fined were among those who indulged in reversal trades, Sebi said. Reversal t

Rearview mirror investing can be perilous in floating-rate funds

Investors should opt for them when rates are expected to climb, not now when they are largely over

Securities Appellate Tribunal defers Zee-Sebi matter to September 13

The confirmatory order passed by Sebi chief Madhabi Puri Buch barred Goenka from holding any key managerial positions in the Zee group of companies

Groww Mutual Fund receives Sebi approval to launch its first index fund

Groww has received the approval of the Securities and Exchange Board of India to launch its first index fund - Groww Nifty Total Markets Index Fund - through new fund offering

Stock brokers upset over strict penalties, meet NSE, Sebi officials

A senior official at one of the broker firms said that the penalties have had a severe effect on the brokers as they struggle to survive in the fiercely competitive financial landscape

Sebi brings new format for abridged prospectus for debt securities

Capital markets regulator Sebi on Monday came out with a new format for abridged prospectus for public issuance of non-convertible debt securities wherein critical information will be provided on the front page of the offer document. Besides, the issuer or merchant bankers concerned should include a Quick Response (QR) code so that the prospectus can be accessed on scanning the code. The format has been revised to further simplify and provide greater clarity and consistency in the disclosures across various documents, the Securities and Exchange Board of India (Sebi) said in a circular. The new format will be applicable for all public issues opening on or after October 1, 2023. Under the rules, no form of application for the purchase of securities of a company will be issued unless such a form is accompanied by an abridged prospectus. As per the revised format, an issuer will have to disclose the name as a type of instrument, base size, face value, the option to retain ...

Market regulator Sebi announces new disclosures for select offshore funds

India's market regulator on Thursday notified select offshore funds fulfilling certain conditions of new enhanced disclosure requirements, according to a circular on Sebi website

Stricter disclosure norms for FPIs will come into effect from Nov 1: Sebi

Granular data required for 50% single group exposure; Rs 25,000 cr AUM

Brightcom Group hits 5% lower circuit on Sebi crackdown

The market regulator, alleged that the funds raised via preferential issue of shares that were meant to be given as loans and advances to its subsidiaries appeared to be overstated

Sebi's new disclosure rule escalates rift at Bengaluru-based TD Power

In a letter to Sebi, Vijay Kirloskar accuses co of inadequate disclosure of shareholder pact

Market regulator Sebi to bring follow-on offer rules for REITs, InvITs

To develop the market for emerging investment instruments, Sebi is looking to bring in norms for follow-on offers by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). REITs and InvITs were introduced in India to provide investors with an opportunity to gain exposure to real estate and infrastructure projects respectively, with diversification of risks through pooling arrangements. Generally, REITs invest majorly in completed and rent-generating real estate assets. Privately placed InvITs can invest in under-construction assets as well as completed and revenue-generating assets and public InvITs can invest majorly in completed and revenue-generating assets. "Taking cognizance of the potential of REITs and InvITs in driving the future of Indian infrastructure, Sebi would endeavour to further develop the market for REITs and InvITs in the coming years through policy measures including considering bringing in norms for follow-on offers by REITs and ..

Regulator Sebi proposes easier norms for voluntary delisting mechanism

Expert group recommends fixed-price, lower threshold as alternatives to reverse book building

Sebi posts new norm for exit option window period for change in AMC control

Capital markets regulator Sebi on Friday came out with a new timeline for the exit option window period given to the mutual fund unitholders for change in control of asset management company(AMC). Under the new timeline, a change in control of the AMC cannot be made unless the unitholders of the mutual fund would be given the option to exit on the prevailing Net Asset Value (NAV) without any exit load within a period of at least 15 calendar days from the date of communication. Earlier, this timeline was at least 30 days. However, in case of change in control resulting in consolidation or merger of schemes, the unitholders would be given the option to exit on the prevailing NAV without any exit load within a time period not less than 30 calendar days from the date of communication, Sebi said in a circular. Considering that growth in technological communication has enabled faster dissemination of information to unitholders, a request was received by Sebi from the mutual fund industry

Mutual fund M&As: Sebi issues new 'free exit' timelines for investors

This marks a reduction from the previous mandatory provision, where AMCs were required to offer investors a 30-day period to exit without incurring an exit load

Shorter IPO timeline to become effective from December 1, says Sebi

At present, it takes six working days (T+6) for an IPO to list

Sebi reduces timeline for listing shares to T+3 from T+6 from December 1

The Securities and Exchange Board of India (Sebi) said that with T as the issue-closing date, the securities will now have to be listed on T+3 day versus the current T+6 day

Sebi plans changes to force disclosures from conglomerates, unlisted firms

The Securities and Exchange Board of India (SEBI) plans to review and standardise disclosures in public offer documents issued by private and listed companies

Sebi provides clarity on online resolution of disputes framework

Capital markets regulator Sebi on Friday provided more clarity on the framework concerning online resolution of disputes in the Indian securities market. Providing clarity on initiation of the dispute resolution process, Sebi said that an investor will have to first take up his/her grievance with the market participant by lodging a complaint directly with the concerned market participant. If the grievance is not redressed satisfactorily, the investor can escalate the same through the regulator's SCORES portal. After exhausting these options for resolution of the grievance, if the investor is still not satisfied with the outcome, he/she can initiate dispute resolution through the Online Dispute Resolution (ODR) portal, Sebi said in a circular. The regulator further said that dispute resolution through the ODR portal can be initiated when the complaint is not under consideration by the market participants and SCORES platform or not pending before any court, tribunal or consumer forum

Work on to reduce bond issuance cost, says Sebi's Ashwani Bhatia

Whole-time member says regulator also reviewing penalties for failure to comply with incremental borrowing norms

Sebi, APMI jointly set standards for performance audit of PMS players

The standard specified by APMI will be effective from October 1, Sebi said in a circular