Page 115 - Sebi

Sebi board meeting: Key decisions on AIFs, NPOs, REITs, index providers

Markets watchdog Sebi on Saturday approved providing flexibility to Not for Profit Organisations (NPOs) in raising funds through the social stock exchange and also decided to introduce a regulatory framework for index providers. These were among the decisions taken by the board of the Securities and Exchange Board of India (Sebi) during its meeting held here. In a release, the regulator said flexibility will be provided for fund raising by NPOs through the social stock exchange. In this regard, the minimum issue size in case of public issuance of Zero Coupon Zero Principal Instruments (ZCZP) for NPOs on the social stock exchange will be reduced to Rs 50 lakh from Rs 1 crore. Among other decisions, a regulatory framework will be introduced for the index providers to foster transparency and accountability in governance and administration of financial benchmarks in the securities market.

NRIs likely to get bigger play in local equities through GIFT City FPIs

At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent

Adani-Hindenburg case: There is no reason to discredit Sebi, says SC

Judgment reserved; Sebi says it won't seek more time for probe

Adani-Hindenburg row: No reason to discredit Sebi, says SC, reserves order

The Supreme Court on Friday said it has no reason to "discredit" SEBI, which probed allegations against the Adani group, as there was no material before it to doubt what the market regulator has done and the court does not have to treat what was set out in the Hindenburg report as a "true state of affairs". While asking the Securities and Exchange Board of India (SEBI) what it intends to do in future to ensure investors don't loose wealth due to volatility in stock market or short-selling, the apex court observed it would not be proper for it to set up a special investigation team (SIT) on its own without any material before it. A bench headed by Chief Justice D Y Chandrachud, which reserved its order on a batch of pleas concerning the Adani-Hindenburg row on allegations of stock price manipulation, said it cannot ask a statutory regulator to take as a "gospel truth" something which was published in the media. "We don't have to treat what is set out in the Hindenburg report as ipso

Sebi proposes flexibility in framework of trading plans under insider rules

Capital markets regulator Sebi on Friday came out with a proposal to provide flexibility in adopting trading plans by persons, who are perpetually in possession of unpublished price sensitive information. Under the rule, 'Trading Plans' (TP) enable persons like senior management or Key Managerial Personnel (KMP), who are perpetually in possession of Unpublished Price Sensitive Information (UPSI), to trade in securities in a compliant manner. "Since the introduction of trading plans in 2015, data and market feedback suggest that the current regulatory requirements in respect of trading plans are onerous and consequently, trading plans are not very popular," Sebi said in its consultation paper. Accordingly, Sebi constituted a working group that was mandated to review provisions of TP under the insider trading rules. As per the consultation paper, the working group has recommended that a minimum cool-off period between disclosure of TP and implementation of TP should be reduced to fou

What Sebi intends to do to protect investors from volatility in market: SC

The Supreme Court on Friday asked the Securities and Exchange Board of India (SEBI) what the capital markets regulator intends to do for ensuring the protection of investors from extreme volatility in the stock market. While hearing a batch of pleas concerning the Adani-Hindenburg row, a bench headed by Chief Justice D Y Chandrachud observed one of the principal reasons which led the apex court to intervene in these petitions was the extreme volatility of stock market. "Now what does SEBI intend to do to protect this kind of volatility... which leads to a loss of investor value," the bench, also comprising justices J B Pardiwala and Manoj Misra, asked Solicitor General Tushar Mehta, who was representing the SEBI. "Has SEBI looked at whether it is necessary to tighten the regulations. What is SEBI intending to do in terms of ensuring the protection of investors," the bench said. "We must," Mehta said. The bench said SEBI has to take steps to ensure that instances of loss of investo

Exchanges slap fresh restrictions on stocks of small and medium enterprises

To safeguard the interest of investors, many brokers prohibit trading or purchase of shares of companies placed under GSM

Sebi bans two people for 1 year over unregistered investment advisories

Capital markets regulator Sebi on Wednesday debarred two individuals from the securities markets for one year and slapped a fine of Rs 2 lakh on them for carrying out unregistered investment advisory activities. The regulator also directed the noticees (P Krishnakumar and Jagadeesan S) to refund all the money, within three months, collected from any investors/complainants, as fees in respect of their unregistered investment advisory activities. The order came after Sebi conducted an examination on the receipt of a complaint against www.ymforecast.com managed by P Krishnakumar and Jagadeesan S, and prima facie found that they were carrying out unregistered investment advisory activities. Subsequently, a show cause notice was issued to the noticees on September 4. In its 22-page order, Sebi found that the noticees were acting as an investment adviser without holding the certificate of registration from the markets watchdog. Therefore, the noticees were in violation of the provisions

SAT expects rigorous probe, very difficult to catch finfluencers: Sebi WTM

It is "very difficult" to catch financial influencers as the Securities Appellate Tribunal (SAT) expects rigorous investigation, Sebi's whole-time member Ashwani Bhatia said on Monday. Sebi orders can be challenged before the tribunal. Bhatia said the capital markets regulator has done one case of a financial influencer since coming out with the guidelines earlier this year and termed it as a "very, very big achievement". "It is very difficult to catch financial influencers. The fact that we have done one case is a very, very big achievement because the rigour of investigation that SAT expects out of us is like a proper legal matter," Bhatia said while addressing an event here. He said Sebi has to get an influencer's telephone and cellular details, which takes a lot of time, and added that they also keep changing their locations. The career banker-turned-securities market regulator said at Rs 17,000 crore per month achieved in October, the systematic investment plans (SIPs) have .

'Odds against winning' over short term: Sebi chief cautions investors

Madhabi Puri Buch says 'odds against winning' in short-term

Confused, surprised at investor interest in F&Os, says Sebi chief

Sebi chairperson Madhabi Puri Buch on Monday said she is "confused and surprised" at investor interest in Futures and Options (F&O) despite 90 per cent of individuals losing money in the segment. Buch said there is a need for investors to look at the long term and added that chances of making inflation-beating returns are much brighter through this strategy. Speaking during the launch of the Investor Risk Reduction Access (IRRA) platform at Asia's oldest stock bourse BSE here, Buch pointed to a recent research by the capital markets regulator which pointed out that only 11 per cent of the 45.24 lakh individual traders in the F&O segment made profit. As per the research, there was an exponential increase in the F&O segment participation during the pandemic, with the total number of unique individual traders increasing by over 500 per cent from the 7.1 lakh in FY19. "I must admit, I am always a little confused and surprised as to why people continue to do that (bet in ...

Sahara-Sebi refund account may be transferred to govt, says report

The funds are expected to be used for pro-poor programmes or public welfare, the report stated

The shocking story of Sahara

At its peak, Sahara Parivar claimed a payroll strength of over 1.2 million workers, next only to the Indian Railways

Adani-Hindenburg row: Contempt plea in Supreme Court over Sebi probe delay

According to the application, Despite receiving a three-month extension until August 14, 2023, Sebi again sought an additional 15 days to file the report

Adani-Hindenburg row: Plea in SC seeks contempt action against Sebi

A plea has been filed in the Supreme Court for initiation of contempt proceedings against the Securities and Exchange Board of India (SEBI), alleging it has violated the timeline for completing the investigation and submitting its report on the allegations of stock price manipulation by the Adani group. An application has been filed by PIL petitioner Vishal Tiwari saying that despite the deadline given to the SEBI it has failed to comply with the direction of the court and has not submitted the final conclusion/report as was directed by the court. It said by the order dated May 17, 2023, the apex court directed SEBI to submit its report till August 14, 2023. It said on August 25, 2023, SEBI filed the status report regarding its investigation stating that overall it has done 24 investigations, out of which 22 investigations have achieved finality and two are of interim nature. The application also referred to the latest report by the Organised Crime and Corruption Reporting Project

Sebi orders Jakraya Sugar, its directors to refund investors' money

Sebi has directed Jakraya Sugar Ltd and its directors to refund the money collected from investors without complying with the regulatory norms. In addition, these entities have been restrained from buying, selling, or otherwise dealing in the securities market "till the expiry of a period of three years from the date of effecting the refund". JSL's directors are -- Birappa Bhagwan Jadhav, Rahul Jadhav Birappa, Sachin Birappa Jadhav, Umadevi Birappa Jadhav, Manisha Sachin Jadhav, Lata Satyawan Bamane, Shubhangi Satyawan, Shridhar Vinayakrao Mane, Priyanka Rahul Jadhav, Paresh Suhas Dange, Bajarang Shivaji Jadhav and Bandopant Madhukar Sathe. Further, Sebi directed Jakraya Sugar Ltd (JSL), Birappa Bhagwan Jadhav, Rahul Jadhav Birappa, Sachin Birappa Jadhav, Umadevi Birappa Jadhav, Manisha Sachin Jadhav, Bamane and Satyawan will jointly and severally refund money collected from the investors with an annual interest of 15 per cent. In its interim order cum show cause notice, Sebi also

Sebi orders to attach bank, demat accounts of ex-officials of Karvy Group

Sebi has ordered the attachment of bank and demat accounts of Karvy Group's three former officials to recover Rs 1.80 crore for the misappropriation of client's funds by Karvy Stock Broking Ltd (KSBL). The recovery proceedings against KSBL's former VP (finance and accounts) Krishna Hari G; KSBL's former compliance officer Srikrishna Gurazada; KSBL's General Manager of back office operation Srinivasa Raju for Rs 1.80 crore, includes interest, all costs, charges and expenses, Sebi said in three attachment orders on Tuesday. In its notices, Sebi asked all banks, depositories, and mutual funds not to allow any debit from the accounts of Krishna Hari G, Srikrishna Gurazada and Srinivasa Raju. However, credits have been permitted. Further, the market regulator has directed all the banks to attach all accounts, including lockers, of the defaulters. Last month, Sebi sent demand notices to -- Krishna Hari G, Srikrishna Gurazada and Srinivasa Raju -- asking them to pay about Rs 1.8 crore in

Sebi eases rule for physical securities' holders without PAN, KYC details

Capital markets regulator Sebi on Friday decided to do away with the provision of requiring the freezing of folios without PAN, KYC details and nomination for all holders of physical securities. The move, aimed at simplifying the rule, will come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. The decision has been taken after receiving feedback from the Registrars' Association of India and investors. Under the rule, it was mandatory for all holders of physical securities in listed companies to furnish PAN, nomination, contact details, bank account details and specimen signature for their corresponding folio numbers. The folios wherein any one of such documents are not available on or after October 1, 2023, is required to be frozen by the Registrars to an Issue and Share Transfer Agents (RTA), Sebi said in May. Amending the circular issued in May, Sebi said that reference to the term 'freezing/ frozen' has been deleted. "Base

Multi-asset funds offer considerable relief in the choppy waters

Another expert termed Nippon India Multi Asset Fund as an example of a true multi-asset fund, saying this fund believes in classical asset allocation

Legal proceedings against Sahara group to continue: Sebi chairperson

Case is against group or entities and not against one individual, says market regulator after death of Subrata Roy