Page 34 - Sebi Norms

Sebi order 'unjustified and unwarranted', Zee Ent argues before SAT

Tribunal adjourns case to June 26

BSE offloads 4.54% stake in CDSL at discount for regulatory compliance

Exchanges allowed to hold only 15% in depositories; BSE held nearly 20% in CDSL at the end of March qtr

Sebi introduces framework for direct mutual fund investment platforms

Opens doors for monetisation of platforms facilitating commission free MF investment

Sebi to digitise investor service requests, complaints by RTAs processing

Capital markets regulator Sebi on Thursday decided to provide a mechanism for processing of investors' service requests and complaints through online mode by RTAs and thereafter track the status as well as obtain periodical updates. Looking to digitise the process in two phases, Sebi said that the mechanism would provide benefits such as a database for service requests and complaints, online acknowledgement and intimation to the investor and online tracking of status of service requests and complaints by investors. At present, holders of physical security certificates are required to submit various documents to the registrars to an issue and share transfer agents (RTAs) with respect to various service requests such as issuance of duplicate security certificates, folio consolidation and services through depository participants such as dematerialisation and rematerialisation. In the first phase, Sebi said that all RTAs servicing listed companies will have a functional website. Such a

Sebi likely to change rules to track investments in PE and VC funds

The market regulator is doing this to identify the investors and the source of the money

Sebi posts guidelines for Investor Protection Fund, Investor Services Fund

Capital markets regulator Sebi on Tuesday came out with exhaustive guidelines for Investor Protection Fund (IPF) and Investor Services Fund (ISF) maintained by stock exchanges and depositories. The detailed guidelines are about the constitution and management of the IPF, contribution to IPF by exchanges as well as depositories, and utilization of IPF. In addition, Sebi has issued a detailed Standard Operating Procedure (SOP), indicating the process and timelines for the declaration of default of a trading member (TM), processing of investor claims out of IPF, and review of claims, according to a circular. About the constitution, Sebi said that all stock exchanges and depositories will have to establish an IPF. The IPF of the stock exchange and depository will be administered through separate trusts created for the purpose. The IPF Trust of the stock exchange and Depository will consist of five trustees -- three Public Interest Directors, one representative from the investor ...

Sebi levies Rs 15 lakh fine on an individual for violating markets norms

Markets regulator Sebi on Monday slapped a fine of Rs 15 lakh on an individual for illegally mobilising funds from the public through a collective investment scheme in the matter of Alchemist Infra Realty Ltd. In addition, the regulator asked Balvir Singh (individual) to pay the penalty within 45 days. In the matter related to Alchemist Infra, Sebi initiated adjudication proceedings against Alchemist and its directors, including Singh, for the violation of CIS (Collective Investment Scheme) rules. In February 2021, the markets watchdog passed an order and slapped a fine of Rs 1 crore on Alchemist and its directors, including Balvir Singh, as they were engaged in fund mobilising activity from the public by floating and launching collective investment schemes without obtaining registration from the regulator. The order came after the Securities Appellate Tribunal (SAT) set aside Sebi's order against Singh for violating CIS norms and directed the markets watchdog to pass a fresh ...

Listing timeline

Sebi can proceed gradually to T+3

Sebi planning to align foreign VC investment rules with those of FPIs

Changes in eligibility requirements to ensure due-diligence of money coming from this route to India

Top Headlines: Govt asks P&W to supply engines, stricter Sebi norms & more

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Sebi proposes to amend 'unpublished price sensitive information' definition

Capital markets regulator Sebi on Thursday proposed to tweak the current definition of unpublished price sensitive information (UPSI) to bring regulatory certainty and uniformity in compliance for the listed companies in respect of the identification of certain events as UPSI. The proposal came after the regulator noticed that "judgment exercised by the listed entities in terms of the categorising announcement as UPSI and consequent compliance with the spirit of the law, are not found to be adequate". In its consultation paper, the regulator suggested that the current definition of UPSI be amended, and the disclosures as required under Regulation 30 of LODR (Listing Obligations and Disclosure Requirements) be brought under it. Under Regulation 30 of LODR, listed entities are required to disclose to the stock exchanges all events or information, which are material, as soon as possible and not later than 24 hours from the occurrence of such event or information. These events included

Sebi issues Rs 5.35 cr notice to fugitive businessman Mehul Choksi

Sebi on Thursday sent a notice to fugitive businessman Mehul Choksi asking him to pay Rs 5.35 crore in a case pertaining to fraudulent trading in the shares of Gitanjali Gems Ltd and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days. The demand notice came after Choksi failed to pay a fine imposed on him by the Securities and Exchange Board of India (Sebi). Choksi, who was the chairman and managing director as well as part of promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi. Both of whom are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than Rs 14,000 crore. Both Choksi and Modi fled India after the PNB scam came to light in early 2018. While Choksi is said to be in Antigua and Barbuda, Modi is lodged in a British jail and has challenged India's extradition request. In a fresh notice on Thursday, Sebi directed Choksi to pay Rs 5.35 crore, which includes interest and ..

Brokers body seeks three-month extension from Sebi for KYC validation

The Sebi circular had given KYC Registration Agencies (KRAs) a timeline of 180 days, ending on April 30, 2023, to validate client KYCs

'Factually baseless': Sebi to SC on probing Adani firms since 2016

Stand by reply that stated Sebi was probing some Adani group firms: FinMin

New mutual fund schemes with performance-based fee on the anvil

Proposal being reviewed by a working group formed by Sebi

Tata Play's confidentially filed IPO gets market regulator Sebi go-ahead

Following the issuance of the observation letter, Tata Play will now have to file an updated draft red herring prospectus (UDRHP-1) before it launches its IPO

Sebi's new rule: Stock brokers can't use clients' funds for bank guarantees

Existing bank guarantees that were created using clients' funds will need to be wound down by September 30, Sebi said

Penalty for margin shortfall in derivative trading to begin from Tuesday

The trading volumes in the derivatives section have been declining since Sebi began tightening margin norms for investors

Sebi calls off Pragya Commodity Brokers' registration in NSEL case

Sebi on Friday cancelled the registration of Pragya Commodity Brokers for facilitating its clients to trade in illegal "paired contracts" on the National Spot Exchange Ltd (NSEL). By providing such a facility of taking exposure to 'paired contracts', the broker exposed its clients to the risk involved in trading in a trading product that did not have regulatory approval, Sebi said in the order. "The noticee (Pragya Commodity Brokers) provided a platform to its clients to access a product which raised serious questions on the ability of the noticee to conduct proper and effective due diligence regarding the product itself. "I hold that the Noticee does not satisfy the 'fit and proper person' criteria for holding the certificate of registration as a broker in the securities market and hence, the continuance of the Noticee as a broker will be detrimental to the interest of the securities markets," Sebi's Executive Director Pramod Rao said in the order. Sebi has asked the broker to all

Sebi bars Karvy Investor Services from onboarding new clients

In an ex-parte order, the Securities and Exchange Board of India (Sebi) noted that KISL did not have the necessary infrastructure like adequate office space, equipment and manpower to work as merchant