Page 125 - Sebi

Sebi likely to implement one-hour settlement of trades by March 2024

Markets regulator Sebi will introduce one-hour trade settlements by the end of this fiscal, in the run up to making such processes instantaneous, a top official said on Tuesday. Amid concerns raised by certain foreign portfolio investors on the shortening of the settlement cycles citing forex-related worries, the official made it clear that faster settlements are optional and investors can opt out. Securities and Exchange Board of India (Sebi) has adopted a roadmap towards realising its aim of making trade settlements instantaneous, the official told reporters. "From one day to one hour to instantaneous is the roadmap," the official said, adding one hour settlements are much quicker to implement than instantaneous. The official said technology for one hour trade settlements already exists and the regulator is confident about the same, while the instantaneous settlements need more technology development. At present, Sebi is thinking of rolling out the one hour trade settlement for

Crediting funds to Sebi's IPEF to be done through online mode only

To facilitate market intermediaries, the process of crediting funds to Sebi's Investor Protection Education Fund (IPEF) can only be conducted online through the regulator's website. This move will streamline the payment process and enhance accessibility for all the contributors to the fund. In July 2020, the Securities and Exchange Board of India (SEBI) had prescribed that the amounts shall be credited to the the regulator's IPEF through online mode or through a demand draft drawn in favour of the board. However, in its latest circular, the markets watchdog said that the remittances to the SEBI IPEF be made only through the regulator's website. "SEBI has opened a new bank account to facilitate market participants to make payment to SEBI IPEF. "In this regard, a link has been provided in the homepage of SEBI website (www.sebi.com) under the head 'Click here to make payment to SEBI IPEF'," it added. The intermediaries can make payments to IPEF conveniently using various payment met

NSE seeks an extension of six months from Sebi to pare NSDL stake

Timeline to comply with Sebi regulations ends on October 2

Sebi fines Rs 7 lakh on Shapoorji Pallonji for violating disclosure rules

Capital markets regulator Sebi has imposed a penalty of Rs 7 lakh on Shapoorji Pallonji and Company for flouting disclosure norms. In its order, Sebi found that Shapoorji Pallonji and Company did not take prior approval from the stock exchange for converting non-convertible debentures (NCDs) into a term loan way back in March 2021. Also, it failed to submit auditor's certificate on utilization of funds, half yearly certificate on maintenance of asset cover and annual report to the debenture trustee, the Securities and Exchange Board of India (Sebi) said in its 64-page order passed on Thursday. Additionally, the company had not updated certain information on its website as required under the Listing Obligations and Disclosure Requirements (LODR) Regulations. Those details are pertaining to notice of meeting of the board of directors where financial results would be discussed; financial results; complete copy of the annual report after FY 2019-20; information, report, notices, call .

Performance validation

Sebi's proposal will aid all investors

Sebi to curb finfluencers to help investors get accurate, unbiased info

The rise of financial influencers or finfluencers, who charge as high as Rs 7.5 lakh for a post on social media, introduced a new way for people to access and interpret financial information, and now they will soon come under the regulatory purview as Sebi proposed measures to curb their mushrooming numbers. The proposed move by Sebi not only ensures that investors receive accurate and unbiased information but also helps in preserving authenticity and reducing fraud, Anand Rathi Wealth Deputy CEO Feroz Azeez told PTI. Under the proposal, finfluencers need to be registered with Sebi and adhere to specific guidelines. Also, it has been proposed to ban unregistered finfluencers from partnering with mutual funds and stockbrokers for promotional activities. While many finfluencers provide valuable insights, there has been a growing concern over the potential risks associated with unregulated finfluencers who might offer biased or misleading advice. They usually work on a commission-based

Market regulator Sebi bats for new body to vet performance claims

Move to put a stop to potentially misleading info spread by individuals and entities

Amarjeet Singh now Sebi's whole-time member, to handle various departments

Capital markets regulator Sebi on Friday said that Amarjeet Singh has taken charge as its whole-time member. Singh, who was the executive director at the Securities and Exchange Board of India (Sebi), will handle various departments, including investment management, market intermediaries' regulation and supervision, office of international affairs, investigations, and human resources, the regulator said in a statement. Singh, who has worked with Sebi for nearly three decades, has wide experience in the regulation and supervision of securities markets. He has headed the market regulation, corporation finance departments, office of chairman, and the office of international affairs. Singh has led Sebi's engagements on sustainability reporting. He was instrumental in bringing about various primary market reforms, including the reduction of lock-in period of minimum promoter holding in public issues, introduction of UPI as a payment mechanism in IPOs, revamping of rights issue process

Sebi extends timeline for public comments on account aggregator proposal

Sebi on Thursday extended the deadline to September 15 for submission of public comments on a proposal putting in place additional measures for the account aggregator framework to curb misuse of financial information like fraud and mis-selling. The Securities and Exchange Board of India (Sebi) had placed a consultation paper on August 1 seeking comments on the proposal by August 31. "It has been decided to extend the timeline for submission of comments to September 15," the regulator said in a notice. An Account Aggregator (AA), a RBI-regulated Non-Banking Finance Company (NBFC), helps an individual securely and digitally access and share information from one financial institution they have an account with to any other regulated financial institution in the AA network. AAs cannot see or store customer data since the data processed through them is encrypted, they merely transmit it from one financial institution to another based on a customer's direction and consent. In its ...

Market regulator Sebi examined funds named by OCCRP in Adani Group probe

The funds named today are already a part of a regulatory probe into violations of public float norms by the Adani Group and any new facts will be considered, sources added

Sebi rejigs panel on alternative investment policy; expands to 25 members

Sebi has reconstituted its alternative investment policy advisory committee, which advises the capital markets regulator on a range of issues that impact further development of the AIF space. The committee has now 25 members, as per latest update with the Securities and Exchange Board of India (Sebi). The panel, which was constituted by Sebi in March 2015, had 20 members when it was last rejigged by the regulator in February 2022. Till now, the committee has submitted three reports on the AIF (Alternative Investment Fund) industry. The committee is chaired by Infosys co-founder N R Narayana Murthy. Apart from Murthy, the committee includes members from Sebi, Ministry of Finance, AIF players and industry associations. Sebi has replaced Renuka Ramnath, who was chairperson of Indian Private Equity and Venture Capital Association (IVCA), from the list with the association's new chairman Karthik Reddy. In addition, the regulator has added Rajiv Dhar, who was appointed as Managing Dir

Adani Group, Hindenburg, Supreme Court and OCCRP: All you need to know

Just months after the Hindenburg report led to a sharp sell-off of Adani Group shares in the Indian share market, another report has come up with similar allegations. Here is all you need to know

Adani family's partners used 'opaque' funds to invest in its stocks: OCCRP

Citing review of files from multiple tax havens, internal Adani Group emails, OCCRP said investigation found at least 2 cases where investors bought and sold Adani stock via offshore structures

Inox India files IPO papers with Sebi, with OFS of up to 2.21 cr shares

Cryogenic tank maker Inox India Ltd has filed preliminary papers with capital market regulator Sebi to mop up funds through an initial public offering. The Initial Public Offering (IPO) is entirely an Offer For Sale (OFS) of up to 2.21 crore shares by its existing shareholders and promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday. Those offering shares in the OFS are Siddharth Jain, Pavan Kumar Jain Nayantara Jain, Ishita Jain, and Manju Jain. Since the issue is completely an OFS, the Vadodara-based company will not receive any proceeds and all the funds will go to the selling shareholders. Explaining the reason for going public, the company said it is aimed at achieving the benefit of listing equity shares on the stock exchanges and carrying out OFS for the selling shareholders. Inox India, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installati

SAT 'not satisfied' with Sebi order in Zee matter, seeks regulator's reply

Tribunal hears Punit Goenka's appeal, to hear case for final decision on Sept 8

Sebi slaps Rs 45 lakh penalties on 9 entities for non-genuine trades

Capital market regulator Sebi on Tuesday levied penalties totalling Rs 45 lakh on nine entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. In nine separate orders, the regulator imposed a fine of Rs 5 lakh each on Vivek Company, Soundlight Projects, S R Realbuild, Srijan Dealers, Manomay Dealmark, Zodiac Vanijya, VKJ Trexim, Hans Homes and Guruteg Bahadur Rice Mill. The orders came after Sebi observed large-scale reversal trades in the illiquid stock options segment on BSE, leading to artificial volumes on the exchange. Thereafter, it conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. The nine entities fined on Tuesday were among those who indulged in the execution of reversal trades. Reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of

Intermediaries pause finfluencers' dealings as Sebi mulls new norms

The regulator has also considered a new payment system to clip the wings of those spreading misinformation

TPG Capital-backed wires manufacturer RR Kabel gets Sebi approval for IPO

TPG Capital-backed wires and cables manufacturer RR Kabel Ltd has received capital markets regulator Sebi's go-ahead to raise funds through an Initial Public Offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 225 crore and an Offer For Sale (OFS) of over 1.72 crore equity shares by promoters and other shareholders, according to the Draft Red Herring Prospectus (DRHP). The company, which filed draft IPO papers with the regulator in May, obtained its observations letter on August 24, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday. In Sebi's parlance, obtaining its observation letter means its clearance to float the public issue. According to the draft papers, Mahendrakumar Rameshwarlal Kabra, Hemant Mahendrakumar Kabra, Sumeet Mahendrakumar Kabra, Kabel Buildcon Solutions Pvt Ltd, and Ram Ratna Wires Ltd are selling shares in the OFS. Apart from these, US-based private equity firm TPG Capital, which holds a 21 pe

Regulator Sebi proposes steps to boost appeal of social stock exchanges

Sebi's latest proposals are aimed at boosting the appeal of social stock exchanges

Sebi brings guidelines to boost cyber security framework for exchanges

Capital markets regulator Sebi on Tuesday came out with guidelines to strengthen the existing cyber security and cyber resilience framework for stock exchanges and other market infrastructure institutions (MIIs). The new guidelines will come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. "Considering the interconnectedness and interdependency of the MIIs to carry out their functions, the cyber risk of any given MII is no longer limited to the MII's owned or controlled systems, networks, and assets," Sebi said. Accordingly, the regulator came out with guidelines to strengthen the existing framework for MIIs -- stock exchanges, clearing corporations, and repositories. Under the guidelines, MIIs will have to maintain offline, encrypted backups of data and regularly test these backups at least every quarter to ensure confidentiality, integrity, and availability. Further, they should explore the possibility of retaining spare ...