Page 33 - Sebi Norms

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

Sebi fines MSEI, its MD, CFO for flouting Securities Contracts rules

Capital markets regulator Sebi on Tuesday imposed a penalty totalling Rs 12 lakh on Metropolitan Stock Exchange of India Ltd (MSEI), its managing director Latika Kundu and HR head as well as chief financial officer Saket Bhansali for violating Securities Contracts rules. They have been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. In its order, Sebi found that MSEI during preparation of the books of accounts on a going concern basis failed to provide necessary projections in terms of Indian AS1 (Accounting Standard 1) and failed to seek relaxation regarding Key Management Personnel (KMP). Further, Kundu has failed to follow Standard Operating Procedure (SOP) while appointing employees, failed to designate a few employees as KMP and gave clean chit to the exchange's two officials -- Kundan Zamvar and Kunal Sanghavi, even after knowing the fact that their names were highlighted in anomalies concerning mismanagement in ...

Market regulator Sebi looks to ease burden of compliance for India Inc

Implementation standards, doing away with board evaluation among measures planned

Market regulator Sebi now mandates legal entity identifier for FPIs

LEI is a unique 20-character code used globally to identify distinct financial entities

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