Page 40 - Sebi Norms

Amfi to block MF distributors indulging in 'splitting of transactions'

Amfi shall take necessary action i.e. blocking of such MF distributors for a period of six months: Sebi

Sebi likely to step up disclosure norms for IPOs of new-age companies

Sebi has attracted some criticism following a meltdown in shares of new-age companies such as Zomato, Paytm and Policy Bazaar

Sebi directs credit rating agencies to up firewall with non-rating entities

The monitoring of the circular will be required to be done through half-yearly internal audits

Entities listed on SSE to submit audited annual impact report, says Sebi

Market regulator clears the decks for setting up the bourse

Sebi may soon introduce framework on retail algo amid concerns of misuse

Regulator in touch with exchanges, set to accept proposals made in discussion paper

SEBI's SCORES platform disposes of 3,236 complaints in August: Official

A total of 3,236 complaints received through the grievance redressal system SCORES against companies or market intermediaries have been disposed of in August, according to data released by Sebi on Friday. At the beginning of August, 3,058 complaints were pending and 3,292 fresh complaints were received, according to the data. These complaints were related to refunds, allotment, redemption and interest, among others. The regulator also noted that there were nine complaints as of August 2022 which were pending for more than three months related to investment adviser, research analyst, non-demat, remat, refunds, dividends and rights, among others. The average resolution time for a complaint was 25 days, it added. In a separate public notice, Sebi mentioned seven entities against whom complaints have been pending for more than three months on SCORES as of August 31, 2022. Most complaints were pending against research analyst Grovalue Financial Services Pvt Ltd and Trans Financial Ser

Govt asks Sebi to ease public shareholding norms for IDBI Bank: Report

The Centre has reached out to Sebi seeking a relaxation period of two years in the minimum public shareholding norms for IDBI Bank after its privatisation

Paytm shares drop over 6% after ED raid; Blue Jet Healthcare files for IPO

Its stock dropped to an intraday low of Rs 681.2 before closing at Rs 708.6, down 2.6 per cent over its previous day's close

Sebi issues guidelines for brokers providing algorithmic trading services

Capital markets regulator Sebi on Friday came out with guidelines for stock brokers, who provide services relating to algorithmic trading to investors, to prevent instances of mis-selling. The guidelines came after the Securities and Exchange Board of India (Sebi) observed that certain stock brokers provide algorithmic trading facilities to investors through unregulated platforms. The unregulated platforms are offering algorithmic trading services or strategies to investors for automated execution of trades. Such services and strategies are being marketed with "claims" of high returns on investment, Sebi said in a circular. Further, "ratings" have been assigned to the strategies, which could lead to investors being lured by such claims. This may amount to mis-selling of such services and strategies to investors, it added. Accordingly, Sebi has given certain responsibilities to stock brokers that provide algorithmic trading facilities to investors through such platforms. Such stock

Adani tentative offer for NDTV to begin on October 17, Sebi nod awaited

On Monday both NDTV and the Adani group sought Sebi's guidance on whether or not RRPR Holdings, the promoter entity of NDTV, can transfer its shares to the Adani group

Sebi tweaks rules for sharp rating actions, non-cooperating issuers

Sebi comes out with circular with changes, also tweaks policy to deal with non-cooperating issuers

No Sebi nod needed: Adani Group counters NDTV promoters' defence

VCPL said the contentions raised by RRPR Holdings in a letter are baseless, legally untenable and devoid of merit.

Sebi drops Indian connection clause to make investment easy for AIF, VCF

Capital markets regulator Sebi has allowed India registered Alternative Investment Funds (AIFs) and Venture Capital Funds (VCFs) to invest in foreign entities without having an India connection. Earlier, one of the conditions was that such overseas investments were allowed only in those companies which had an Indian connection. Like, a company has a front office overseas, while having its back office operations in India. "The requirement of the overseas investee company to have an Indian connection... has been done away with," Sebi has said in a circular. The regulator, however, said that no such investments can be made in companies based in jurisdictions identified by Financial Action Task Force (FATF) as those having anti-money laundering (AML) or combating the financing of terrorism (CFT) deficiencies. Moreover, AIFs or VCFs will be allowed to invest in an overseas investee company, which is incorporated in a country whose securities market regulator is a signatory to the ...

Sebi defers implementation of MF holders' nomination rules till Oct 1

Markets regulator Sebi on Friday deferred the implementation of rules pertaining to nomination for mutual fund holders till October 1. The rules, which mandate investors, subscribing to mutual fund units, to submit details of nomination or opting out of nomination, was to come into force August 1. Now, investors, who are subscribing to mutual fund units from October 1 will have the choice of providing nomination or opting out nomination, the Securities and Exchange Board of India (Sebi) said in a circular. Asset Management Companies (AMCs) will have to provide an option to the unit holder to submit either the nomination form or the declaration form for opting out of nomination in physical or online mode as per the choice of the unit holder. In case of physical option, the forms will carry the wet signature of all the unit holders and if it is online, e-sign facility will be used instead of wet signature of all the unit holders. Besides, AMCs will validate the forms through two-fac

Inadequate KYCs: Sebi lays down rules for deactivation of accounts

MIIs will have to ensure that they communicate the details of the deactivation along with reasons to the respective registered intermediary

Sebi comes out with new guidelines on settlement of running account

Capital markets regulator Sebi on Wednesday came out with new guidelines on settlement of running accounts of clients' funds lying with stock brokers, to be applicable from October 1. Under the guidelines, the settlement of the running account of funds of the client will be done by the trading member after considering the End of the day (EOD) obligation of funds as on the date of settlement across all the exchanges on the first Friday of the quarter for all the clients. The running account of funds will be settled on the first Friday of October 2022, January 2023, April 2023, July 2023, and so on for all the clients, the Securities and Exchange Board of India (Sebi) said in a circular. If the first Friday is a trading holiday, then such settlement will happen on the previous trading day. For clients, who have opted for monthly settlement, running accounts will be settled on the first Friday of every month. If the first Friday is a trading holiday, then such settlement will happen

Sebi again extends deadline for commencing KYC record validation by KRAs

Capital markets regulator Sebi on Wednesday extended the deadline by three months to November 1, for commencing the validation of all KYC records by KYC Registration Agencies (KRAs). This is the second time, when the Securities and Exchange Board of India (Sebi) has extended the deadline. Initially, such agencies were required to independently validate the Know your Client or KYC records of all clients by July 1, which was extended till August 1. Now once again the regulator has received requests from the KRAs to extend the timelines. "Considering the KRAs' request for extension of the timeline... it has been decided that the validation of all KYC records (new and existing) shall commence from November 1, 2022," Sebi said. Further, it said that KYC records of all existing clients, who have used Aadhaar as an Officially Valid Document (OVD), will be validated within a period of 180 days from November 1. The regulator, in January, notified new norms to make KRAs responsible for car

Sebi to auction 11 properties of Arise Bhoomi Developers on August 26

Sebi on Friday said it will auction properties of Arise Bhoomi Developers and its directors on August 26 for a reserve price of Rs 52.28 crore. The move is a part of Sebi's effort to recover investors' money. Arise Bhoomi Developers had mobilised over Rs 8 crore during 2013-14 from the public in the name of 'purchase of agricultural land' through its various investment schemes, promising them an expected sum at the end of the contract. The schemes, as per Sebi, qualified to be a CIS which requires compulsory registration from the regulator. However, the company launched the schemes without obtaining necessary approvals from the regulator. In a notice, the Securities and Exchange Board of India (Sebi) said it will auction 11 properties belonging to the company and its directors at a reserve price of Rs 52.28 crore. The auction will be conducted online in August. The properties that have been put on sale include land parcels, shop and a plot, located in Uttar Pradesh and ...

Sebi provides directive for sub-KYC user agency for Aadhaar authentication

Capital markets regulator Sebi on Wednesday issued directives for sub-KYC user agencies to provide Aadhaar authentication services to their clients for the purpose of know your customer (KYC). This comes after the government last week notified 155 entities as sub-KUAs (KYC user agencies) to use Aadhaar authentication services of the UIDAI (Unique Identification Authority of India). In a circular, the Securities and Exchange Board of India (Sebi) said that these entities are required to enter into an agreement with a KUA and get themselves registered with UIDAI as sub-KUAs. The agreement in this regard will be as prescribed by the UIDAI. Further, the sub-KUAs need to follow the process as may be prescribed by the UIDAI from time to time. "The KUAs shall facilitate the onboarding of these entities as sub-KUAs to provide the services of Aadhaar authentication with respect to KYC," the regulator said. In May 2020, the regulator listed the entities that can undertake e-KYC Aadhaar ...

PNB Housing, directors shell out Rs 73 lakh to settle case with Sebi

The payment was made under settlement rules, which allow an alleged wrongdoer to settle a matter without admitting or denying the guilt