Page 142 - Sebi

SC panel report suggests Adani probe will only produce heat, not light

Thanks to a 173-page report by a six-member panel appointed by India's Supreme Court, we now have a fairly good idea of where the country's probe into the Adani Group is headed: Nowhere

Onus of preventing front running, insider trading to fall on AMCs

Sebi proposal wants AMCs to design internal systems to identify misconduct of employees

Market regulator Sebi plans to shorten IPO listing timeline to three days

Currently, listing happens after six days from the closure of IPO

Sebi proposes to cut down IPO listing timeline to 3 days from 6 days

Capital markets regulator Sebi on Tuesday proposed to reduce the time taken for the listing of shares on stock exchanges after the closure of initial public offerings (IPOs) to three days from six days at present. The proposed reduction in timelines for listing and trading of shares will benefit both issuers as well as investors. "Issuers will have faster access to the capital raised thereby enhancing the ease of doing business and the investors will have opportunity for having early credit and liquidity of their investment", Sebi said in its consultation paper. The markets regulator, in November 2018, introduced Unified Payment Interface (UPI) as an additional payment mechanism with Application Supported by Blocked Amount (ASBA) for retail investors and prescribed the timelines for listing within six days of closure of issue (T+6). 'T' is the day of closure of the issue. Over the last few years, Sebi has ensured that a series of systemic enhancements have been undertaken across al

Sebi asks AMCs to set up control systems to identify market manipulation

Capital markets regulator Sebi on Saturday proposed that asset management companies (AMCs) set up surveillance and internal control systems for the deterrence of possible market abuse and fraudulent transactions. It further suggested that senior management of AMCs should be responsible to ensure that an institutional mechanism is put in place to detect and report possible misconduct by its employees, dealers, stock brokers or any other connected entities. Further, AMCs should have appropriate escalation and reporting mechanism for possible market abuse and fraudulent transactions in securities related to the AMCs' transactions, Sebi said in its consultation paper. This comes in the wake of Sebi passing orders in two instances of front-running pertaining to Axis AMC and Life Insurance Corporation of India (LIC). In the Axis AMC case, broker- dealers, certain employees and connected entities were found to have front-run the trades of the AMC and in the case of LIC, an employee of a .

Sebi seeks to revamp investor grievance redressal process to strengthen it

Capital markets regulator Sebi on Friday came out with a proposal to strengthen the investor grievance handling process through the SCORES system and integrate the same with the online dispute resolution mechanism. In addition, the regulator is looking to review the qualified institutional buyer (QIB) status of alternative investment funds (AIFs), venture capital funds (VCFs) and foreign venture capital investors (FVCIs). The Securities and Exchange Board of India (Sebi) has sought comments from public on the proposals pertaining to QIB status by June 1 and investor grievance mechanism by June 3, according to two separate consultation papers. Under the proposal, the regulator has suggested to revamp the investor grievance handling mechanism through SEBI Complaint Redressal System (SCORES) and integrate the same with the online dispute resolution (ODR) mechanism which was recently approved by Sebi. SCORES was launched in June 2011 to enable investors to lodge and follow up their .

Sebi proposes measures to boost liquidity in corporate bond market

With an aim to boost liquidity in the secondary market for corporate bonds, markets regulator Sebi on Friday came out with a proposal for enabling direct participation by clients in the tri-party repo segment for corporate bonds. The proposal will facilitate direct participation in repo transactions in corporate bonds by entities which cannot take direct membership of the stock exchange, clearing corporation such as NBFCs, insurance companies, mutual funds, etc. In its consultation paper, Sebi has suggested for facilitating transactions directly between clients and the Limited Purpose Clearing Corporation (LPCC) in the tri-party repo segment as well as to enabling contribution by such clients directly to the Core SGF (Settlement Guarantee Fund). "In order to strengthen the risk management system of the LPCC to meet the contingencies arising on account of possible failure of the clients/ participants as well, it is essential that the contribution to the Core SGF can also be made by .

Adani-Hindenburg saga: Found no regulatory failure, says SC panel

Report spells relief for Adani group, Sebi

Sapre committee for multi-agency body to investigate complex matters

Says such a committee would be useful in cases where the skill sets and expertise of multiple regulatory and enforcement agencies is necessary

Sebi mandates risk disclosures for F&O trades, to protect retail investor

A study published by Sebi in January showed that only one in 10 F&O traders turned out to be profitable during FY22

ED, Sebi probing the role of six short sellers in Adani group stocks

Hindenburg had taken position on Adani overseas listed securities

Sebi's proposal on TER to curb mis-selling, bring in transparency

Sebi's proposed sweeping changes to mutual funds' Total Expense Ratio (TER) will curb distributor practices of unnecessary switching of schemes and pushing new fund offerings for higher commissions, experts said on Friday. TER accounts for the fees and expenses charged by asset management companies (AMCs). The Securities and Exchange Board of India (Sebi), in its consultation paper on Thursday, proposed the introduction of performance fees for funds. It proposed two approaches in this regard but also suggested testing the models under the Regulatory Sandbox. Considering the underperformance of most mutual fund schemes, the proposal to introduce performance-linked expense ratios along the lines of Portfolio Management Services (PMS) is a step in the right direction, Gopal Kavalireddi, Head of Research at FYERS, said. Globally, many markets have performance fee structures, but the prevalence of these is limited. Many times, performance fee structures tend to be too complex for inves

Sebi probe into Adani's alleged violations drew blank, says SC panel

An expert committee appointed by the Supreme Court said it cannot conclude any regulatory failure around Adani Group's stock rallies, and that Sebi has "drawn a blank" in its probe into alleged violations in money flows from offshore entities into the conglomerate. But the six-member panel said there was an evidence of a build-up in short positions on Adani Group stocks ahead of the report of US-based short seller Hindenburg Research, and profiting from squaring off positions after prices crashed post-publication of the damning allegations. "At this stage, taking into account the explanations provided by Sebi, supported by empirical data, prima facie, it would not be possible for the committee to conclude that there has been a regulatory failure around the allegation of price manipulation," the panel said in the report submitted to the Supreme Court. It further said there is a need for an effective enforcement policy that is "coherent and consistent" with the legislative position ..

Adani-Hindenburg: SC panel says can't pinpoint regulatory failure

In a briefing called by the committee, Sebi said it did not find any evidence of "wash trades" even after putting Adani group scrips under various surveillance measures

In Adani-Hindenburg saga hard to pinpoint regulatory failure, says SC panel

On price volatility, the committee said that the Indian market was 'not unduly volatile' after the Hindenburg report on Adani was revealed in January

SEBI plans to restrict borrowing by AIFs to prevent systemic risk

Market regulator also proposes mandatory renewal of AIF registrations on completing five years

Sebi plan to prune MF costs: New expense slabs, no additional charges

Proposes to bring expenses like brokerage, transaction, and GST within the total expense ratio

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

Adani woos bankers: Invites them for a trip to restore confidence

The guests have been invited to meet the senior officials of the conglomerate and wine and dine at a five-star hotel near Mumbai's international airport

Sebi mulls streamlining regulatory framework for FVCI registration

Capital markets watchdog Sebi on Thursday proposed to streamline regulatory framework for registration of Foreign Venture Capital Investors (FVCIs). In its consultation paper, Sebi has suggested that the process of granting registration to FVCIs and processing other post-registration references may be delegated to designated depository participants (DDPs) in line with provisions prescribed for FPIs (Foreign Portfolio Investors). An applicant seeking registration as an FVCI should engage a DDP to avail its services for obtaining a registration certificate as FVCI. Presently, the processing of applications for granting registration to FVCIs and related due diligence is carried out by Sebi. In addition, the regulator has suggested that the eligibility criteria for FVCIs should be streamlined, in line with that prescribed for FPIs. Also, it proposed that FVCIs should hold their investments in demat form. The Securities and Exchange Board of India (Sebi) has sought comments from the pu