Page 33 - Sebi Norms

Persons-in-control norms may allow founders to skirt liability: InGovern

Proxy advisory firm InGovern advocates allowing ESOPs to promoters of late-stage companies

Sebi's move to regulate index providers on hold; revised proposal on cards

A regulatory framework for index providers was cleared by Sebi's board at its meeting held in March. The regulator, however, is yet to notify changes

Instant settlement of share transactions in the works: Sebi chief

Sebi is reviewing the framework of "trading plan" -- used by insiders to deal in the shares of their companies as required under the Prohibition of Insider Trading (PIT) Regulations

Stricter disclosure norms to take effect from Saturday: Sebi circular

The timelines granted by Sebi for most disclosures range between 12 hours and 24 hours

Sebi comes out with 'stricter timeline' for disclosure of material events

Capital markets regulator Sebi on Wednesday came out with a "stricter timeline" for disclosure of material events or information by listed companies and introduced criteria for determining the materiality of events. The new framework will become effective from July 15, the Securities and Exchange Board of India (Sebi) said in a circular. Under the framework, the regulator asked listed companies to disclose family settlement agreements, which can impact the management and control of such firms to stock exchanges. These agreements need to be disclosed within 12 hours in case a listed entity is a party and within 24 hours where the listed entity is not a party. Further, for material events or information which emanate from the listed entity, including those related to acquisitions, Scheme of Arrangement, consolidation of shares, and buyback of securities, the timeline for disclosure by the entity has been reduced from 24 hours to 12 hours. In case of information that emanates from a .

Sebi to tweak 'fit & proper' regime for bourses, clearing corporations

Segregation between individuals and entity; At present, disqualification of a key person could have bearing on the stock exchange's or clearing corporation's status

'Not possible' to straitjacket probe timelines: Sebi to Supreme Court

Legal experts said Sebi, in the 46-page affidavit submitted on Monday, is trying to play down the need for an overhaul in its functioning

Sebi's new disclosure rules on single group exposure may hit about 100 FPIs

The total holdings of these 100 FPIs was Rs 1.2 trillion by at March 2023-end quarter; of these, 51 FPIs had all their investments in a single corporate group

Union MF expects 50% growth in AUM, to reach Rs 15,000 cr mark by March

Union Mutual Fund, which has been an also-ran since its launch in 2012, is on a growth path now and is looking at adding at least 50 per cent more to the AUM this fiscal, sniffing at Rs 15,000 crore by March. Despite having 22 funds (21 open-ended and one close-ended funds), the fund house sponsored by Union Bank of India and Japanese major Daiichi Life could not reach anywhere in the pecking order in the 43-player scattered industry that controls more than Rs 43 lakh crore of public money in its over 11 years of operations.. In the year to March 2023, it had an AUM of just Rs 9,853 crore across 4.96 lakh live folios from 21 cities. Daiichi picked a 39.64 per cent stake in the MF in May 2018. But in terms of its presence in small towns, Union MF does reasonably well with 32 per cent of the AUM coming in from the B30 (beyond top 30) cities and the rest from the T30 (top 30) cities. "As of June our AUM stood at Rs 10,700 crore, up from Rs 9,853 crore in March 2023. We hope to take th

Bank of India plans share sale to meet Sebi's minimum public holding norms

State-owned Bank of India is exploring the possibility of share sale to investors over the next one year to meet the minimum public holding requirement of 25 per cent. Currently, Government of India holds 81.41 per cent stake in the Mumbai-based bank. "We are exploring options to meet Sebi's minimum public holding requirement. However, the decision to sell shares would depend on market conditions," Bank of India Managing Director Rajneesh Karnatak told PTI. Public sector banks have time till August 2024 for meeting the Securities and Exchange Board of India (Sebi) requirement, he said. Post share-sale, depending on the quantum, the holding of Government of India would come down below 75 per cent. With regard to the bank's growth, he said, credit growth is expected to be 11-12 per cent during current financial year helped by retail, MSME and agriculture loans. As far as the deposit is concerned, he said, "we hope to grow the liability side by 10 per cent during current financial

Sebi brings new dispute resolution mechanism for investors, intermediaries

Investors will now get a review by a designated body if they aren't satisfied with a resolution. If an investor is dissatisfied even with the first review, Sebi will do a second review

Sebi provides clarity on director nomination by debenture trustees

After receiving representations, markets regulator Sebi on Tuesday provided clarity on the requirements for appointment of directors by entities that have listed their debt securities. Under Sebi norms pertaining to listing of non-convertible securities, an entity registered under the Companies Act, 2013 has to ensure that a person nominated by the debenture trustee is appointed as a director. While this obligation exists for issuers that are companies under the Companies Act, 2013, there is no similar obligation for issuers that are not companies. In this regard, representations have been received from debenture trustees, the regulator said in a circular. Against this backdrop, Sebi noted that the appointment of a director including nominee director is driven by the provisions of the principal document of the entity (Articles of association, in case of companies under the Companies Act, 2013). "A nominee director is a director, and therefore, except for specific provisions of law,

Street Signs: BAFs most popular hybrid funds, Sebi's next move, and more

Sebi Chairperson Madhabi Puri Buch recently said that the capital markets regulator has lined up half a dozen initiatives to ensure a more level playing field in the stock exchange space

Sebi tweaks framework for upstreaming of client funds by brokers

Markets regulator Sebi on Friday tweaked the framework pertaining to upstreaming of all client funds received by stock brokers and clearing members to clearing corporations. The modifications have been made following representations received from various stakeholders, including Market Infrastructure Institutions (MIIs) and stock brokers, saying that changes to the systems are still under progress, and that there are certain practical difficulties in implementation of the proposed framework. Under the framework which was issued earlier this month, no clients' funds would be retained by stock brokers on an End of Day (EoD) basis. Further, clients' funds will be upstreamed by stock brokers and clearing members to clearing corporations only in the form of either cash, lien on Fixed Deposit Receipt (FDR) or pledge of units of mutual fund overnight schemes, In a circular on Friday, Sebi said stock brokers/ clearing members (SBs/CMs) may receive funds from clients beyond the prescribed

Sebi pause on 'total expense ratio' sets off rally in AMC shares

Sebi chairperson says industry will be pleased with the fresh proposal

Sebi finalising draft discussion paper over guidelines for 'finfluencers'

Market watchdog Sebi will be finalising a draft discussion paper in a month or two to formulate rules and guidelines to regulate the mushrooming number of unregistered financial influencers or finfluencers who offer investment advisors to the public. The statement from Sebi chairperson Madhabi Puri Buch comes on the heels of the income tax department reportedly sending notices to top 35 social media influencers for not paying taxes worth crores of rupees and after last week's searches on the top 13 Youtubers in Kerala for similar offences. "We are crystalising a discussion paper to regulate financial influencers. The paper should be ready for public comments in the next couple of months," Buch told reporters late last night after a marathon board meeting wherein the board approved a rash of regulatory measures including halving of the share listing time to three days the present six after an IPO. The board also decided to tighten the disclosure norms for large foreign portfolio ...

Dealings in shares of at least three Adani companies under Sebi lens

Regulator probes possible breach of laws related to insider trading

Sebi asks CRAs to disclose lists of non-cooperative issuers with them

With an aim to boost transparency, capital markets regulator Sebi on Monday asked credit rating agencies to disclose lists of issuers who are non-cooperative with them. This comes after Sebi observed over the time the number of issuers that are non-cooperative with CRAs (Credit Rating Agencies) have increased, with a vast majority of INC issuers being unlisted and small entities. In this regard, to provide enhanced transparency and information regarding non-cooperative issuers to various stakeholders, market participants and investors, Sebi said, "CRA shall disclose two lists of issuers who are non-cooperative with the CRA, separately for securities that are listed, or proposed to be listed, on a recognised stock exchange, and other ratings." The list would be disclosed in a prescribed format and the disclosure would be updated on a daily basis, the Securities and Exchange Board of India (Sebi) said in a circular. The new circular will be applicable with effect from July 15, 2023,

India Inc may feel heat of new governance norms, higher compliance

Sebi has brought about a raft of changes to listing norms aimed at greater transparency

Sebi raps Edelweiss Broking for not reporting suspicious activity

The matter is related to dematerialisation and sale of shares in dormant accounts using forged documents by certain entities between 2008 and 2013