Page 140 - Sebi

Sebi levies penalty of Rs 40 lakh on 8 entities for non-genuine trades

Capital markets regulator Sebi on Tuesday levied fines totalling Rs 40 lakh on eight entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. The regulator slapped a fine of Rs 5 lakh each on Sunbright Commodities Trade, Sunita Gupta, Ecospace Distributors, Fendra Infrastructure, Fastglow Distributors, Fort Gloster Industries, Flute Developers and Franklin Leasing and Finance Ltd. The Securities and Exchange Board of India (Sebi) had observed large-scale reversal trades in the illiquid stock options segment on BSE, leading to artificial volumes on the exchange. The regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. According to Sebi, these eight entities that have been fined on Tuesday were among those who indulged in the execution of reversal trades. The reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of ..

New TER structure in co-creation stage: Sebi chief Madhabi Puri Buch

Regulation is in a co-creation stage with the industry and urged fund houses to share relevant data with the regulator, says Sebi chairperson

Amfi to form ethics panel to curb misconduct in asset management companies

The proposed ethics committee of Amfi, a nodal association of mutual funds in the country, is envisioned to be able to take action on a self-regulatory basis against individuals

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 cancels Siddhi Vinayak Commodities' registration in NSEL case

Markets regulator Sebi on Tuesday cancelled the registration of Siddhi Vinayak Commodities for facilitating its clients to trade in illegal paired contracts on the National Spot Exchange Ltd (now defunct). The act of the noticee (Siddhi Vinayak Commodities) of executing trades in the 'paired contracts', which did not have requisite regulatory approval, raises doubts on the competence of the noticee to act as a registered securities market intermediary, Sebi said in the order. "I hold that the noticee does not satisfy the 'fit and proper person' criteria under the norms and therefore, the continuance of the noticee as a broker will be detrimental to the interest of the securities market," Sebi's Executive Director Anand R Baiwar said in the order. Sebi has asked the broker to allow its existing clients to withdraw or transfer their securities or funds held in its custody within 15 days. In case of failure of any clients to withdraw or transfer their securities or funds within this .

Sebi, industry officials seek common ground as differences on UPSI arise

Industry officials say the proposed change may bring confusion to what all is categorised as price-sensitive information along with compliance burden

Disrupting real estate markets

Sebi need not get into the business of regulating the platforms offering fractional ownership rights in real estate

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 ...

Sebi reconstitutes intermediary advisory committee for legal framework

Sebi has reconstituted its intermediary advisory committee, which suggests on matters pertaining to changes in legal framework and enhancing transparency in systems and procedures of market intermediaries including stock brokers, depository participants and clearing members. Rejigging its committee, the capital markets regulator said the panel will continue to be chaired by S Ravindran Jain, former executive director at Sebi. Also, the regulator has inducted new members in the panel. The 21-member committee has representation from the brokerage industry, financial institutions, legal fields and Sebi's members, as per the information available with the markets watchdog. The regulator has inducted several new members including Nithin Kamath, founder and chief executive officer (CEO) of Zerodha Broking and Groww's CEO Lalit Keshre. Further, Ashish Chauhan, managing director and CEO of National Stock Exchange (NSE); Sundararaman Ramamurthy, MD and CEO of BSE; Narendra Wadhwa, President

Sebi may soon ease compliance norms for PE, VC funds in India: Report

The capital markets regulator had last week sent an email to 20 fund officials asking them to suggest ways to reduce the compliance burden

Listing timeline

Sebi can proceed gradually to T+3

Mansun Consultancy, P R Sundar settle case with market regulator Sebi

Mansun Consultancy and its promoters have settled with capital markets regulator Sebi a case on alleged violation of investment advisers norms. Mansun and its promoters/directors -- P R Sundar and Mangayarkarasi Sundar -- paid Rs 15.60 lakh each towards the settlement charges, as per a Sebi order on Thursday. Besides, the terms of the settlement also included the disgorgement of the fees collected by Mansun, along with the 12 per cent per annum interest -- from June 2020 till February 2023 -- of Rs 6.07 crore. In the revised settlement terms, the applicants proposed that Mansun, PR Sundar and Mangayarkarasi "shall refrain from buying, selling or otherwise dealing in securities in India for a period of one year from the date of passing of the settlement order". "The Applicants shall refrain from buying, selling or otherwise dealing in securities markets for a period of one year from the date of passing of the settlement order," Sebi's Chief General Manager Anitha Anoop, said in the

High expense ratio erodes mutual funds' net return, so monitor cost

If your distributor suggests moving from a low- to a high-cost fund, question the rationale of the move

In financial frauds, CFOs failing as first gatekeepers: Sebi's S K Mohanty

The Sebi official pointed out that one of the major areas of concern is that the regulator has seen the rise in related-party transactions

Sebi to issue MF light regulations for passive funds to ease compliance

Markets regulator Sebi will come out with a mutual fund light regulations for passive funds as part of efforts to reduce the compliance burden, foster growth as well as lower costs to investors, a senior official said on Friday. Passive funds is an investment vehicle that tracks a market index or a specific market segment. These funds include passive index funds, Exchange Traded Funds (ETFs), and Fund of Funds investing in ETFs. The regulator is looking to reduce compliance requirements for passive funds that are tied to changes in the underlying index and operate on a non-discretionary basis. To accommodate passive investments, such as index funds and ETFs, the regulator is introducing mutual fund light regulations, Sebi Whole Time Member Ananta Barua said. "These regulations will provide greater flexibility for index funds and ETFs, enabling them to offer transparency, diversification, and lower costs to investors. "By easing the compliance burden, Sebi aims to foster the growth

Sebi sets up intermediary advisory panel to be led by former ED S Ravindran

The committee will advise the regulator on legal framework, transparency, and market safety-related matters

Narendra Modi govt at 9: Index returns in line with long-term trend

Improvement in financial savings channelised massive inflows into the equities market through the mutual fund route

Sebi bans 3 entities for unregistered investment advisory services

Capital markets regulator Sebi on Thursday barred three entities, including Investocare Financial Research, from the securities markets for varying periods for providing unregistered investment advisory services. An individual -- Ramesh Babu -- has been restrained for 2 years till the expiry of the period from the date of completion of refunds to investors, while Investocare and its proprietor Ravish Kandhari were debarred for one year from the securities markets. The markets watchdog has also asked Ramesh Babu to refund investors' money collected through unregistered investment advisory services within three months. As per Sebi, Investocare and its proprietor provided advisory services without holding the mandatory certificate of registration by the market regulator. Ramesh Babu had received Rs 60.94 lakh in his account from November 2015 to July 2021, for the investment advisory services provided by Investocare, thereby violating the provisions of IA (Investment Advisers) rules,

Sebi releases model tripartite with respect to share transfer agent change

Markets regulator Sebi on Thursday came out with a model tripartite agreement for the issuer company, existing share transfer agent and new share transfer agent. Under Sebi norms, in case of any change or appointment of a new share transfer agent, the listed entity should enter into a tripartite agreement. The pact has to be signed by the existing transfer agent, the new share transfer agent and the listed entity. In this regard, the watchdog has come out with a "model tripartite agreement has been prepared in consultation with Registrar Association of India (RAIN) and some issuer companies". According to a circular, Registrar and Share Transfer Agents (RTAs) and listed companies have been asked to publish the format of the tripartite agreement on their respective websites. RTAs have been advised to submit compliance with the direction by June 1, along with the link of their websites containing the format of the tripartite agreement. They have also been asked to make necessary ...

Adani case: Is Sebi's step to seek foreign fund details PR move, asks Cong

The Congress on Thursday said the SEBI has asked for details of financial institutions owning certain foreign funds and asked whether the market regulator can enforce this now or it was another gesture to exonerate the Adani group. Congress general secretary communications Jairam Ramesh, quoting a media report, also asked on Twitter whether the move is a belated PR exercise to say "we tried but failed..." and how the SEBI would complete its investigation into the Adani issue before deadline fixed by the Supreme Court. The apex court on Wednesday granted the Securities and Exchange Board of India (SEBI) time till August 14 to complete its investigation into the allegations of stock price manipulation by the Adani group and asked the market regulator to place on record an updated status report of the probe. "Zara Chronology Samjhiye: First, SEBI suddenly loosens ownership regulations for Foreign Portfolio Investors so as to make them opaque. Then, the Adani Group takes full advantage