Page 155 - Sebi

Market regulator Sebi suspends small town-linked incentive for MFs

The concerns shared by Sebi are splitting of transactions and churning of investments by distributors, variance in calculation of B-30 incentives among AMCs

Stock manipulation via YouTube: Sebi bars Arshad Warsi, wife & 31 entities

Are among 31 banned for stock manipulation via YouTube

Foreign investors to seek review of enhanced rules after Adani rout: Report

In the first week of February, SEBI wrote to custodian banks asking them to reach out to their FPI clients by March and share details of beneficial owners by the end of September

Supreme Court asks Sebi to check on Adani's related party transactions

The Supreme Court of India also ordered the formation of an investor-protection panel amid sharp falls in the Adani group's shares

Manipulation via Youtube: Sebi penalises Arshad Warsi, wife, 29 others

Sebi noted that Arshad Warsi has made a profit of Rs 29.43 lakh and his wife has earned a profit of Rs 37.56 lakh

Sebi passes interim orders against entities for stock manipulation via YT

The Sebi in preliminary investigations, identified 46 entities that used the video streaming platform to pump and dump stocks

Adani-Hindenburg case: Supreme Court sets up expert committee for probe

The committee consists of OP Bhat, JP Devdatt, Nandan Nilakeni, KV Kamath, and Somasekharan Sundaresan as the members. Former SC judge AM Sapre will lead the panel

Sebi shows new-age teeth in bursting Axis MF front running scandal

Combing Bloomberg chats, use of mobile tower IDs shows regulator's use of analytical tools

Sebi imposes Rs 6 lakh penalty on MCX in data entry norms case

Capital markets regulator Sebi has imposed a penalty of Rs 6 lakh on Multi Commodity Exchange (MCX) for flouting norms in a case pertaining to data entries of Sikkim-based clients. The matter relates to incorrect input of State code and City code as Sikkim by seven trading members of MCX in the UCC (Unique Client Code) database. In its order, Sebi found that MCX imposed a penalty of Rs 10,000 per client on these trading members for wrong entries in June 2022. "The instant case pertains to incorrect input of State code and City code as Sikkim which does not cover under Material Discrepancies. Hence as per the ToR Member & Core SGF Committee (MCSGFC) is the authority to formulate policies for regulatory actions," Sebi said in its 58-page order on Tuesday. It means MCX was required to take it to the committee which is empowered to frame policy without imposing a penalty under material discrepancy. In its order, Sebi noted that MCX has not complied with certain clauses Term of ...

Sebi penalises individual for flouting market norms in BOI AXA Mutual Fund

Sebi has imposed a fine of Rs 10 lakh on an individual for flouting market norms in the matter of BOI AXA Mutual Fund. The individual, Shubro Sankha Das Sarma, was the Head of Operations at Bank of India Investment Managers (formerly known as BOI AXA Investment Managers). The order came after Sebi conducted an thematic inspection of BOI AXA Mutual Fund for the period August 2018 to February 2019. It was done to verify the books of accounts, records and other documents pertaining to the mutual fund with respect to Inter Scheme Transfer (IST) and valuation of downgraded debt securities. Post inspection, the regulator initiated adjudication proceedings against Bank of India Investment Managers, Rajesh Chawathe, Sandeep Dasgupta, Jayati Dasgupta, Anurupa Dasgupta, Sarma and Alok Singh for the alleged violation of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms. Out of seven entities, six entities, including Bank of India Investment Managers, settled the case with ...

Bajaj Finserv gets Sebi's approval to foray into mutual fund business

Ganesh Mohan named CEO, Nimesh Chandan to head investment team

Sebi bans 2 individuals from securities markets, fines for insider trading

Capital markets regulator Sebi has barred two individuals from securities markets for one year and levied penalties totalling Rs 25 lakh on them for indulging in insider trading in the shares of Aptech Ltd. In addition, Sebi directed two individuals -- Lashit Lallubhai Sanghvi and his wife Neha Sanghvi -- to disgorge notional profits totalling Rs 99.72 lakh along with interest at the rate of 9 per cent per annum from September 2016 till the date of actual payment. Lashit, Late Rakesh Jhunjhunwala and others co-founded Alchemy Capital Management, an investment management firm, and Jhunjhunwala was the chairman/ promoter of Aptech. Besides, the regulator restrained Lashit and Neha from securities markets for one year and also barred them from dealing in the securities of Aptech for two years. The present proceeding emanated from a show cause notice issued in October 2020 against nine individuals, including Late Rakesh Jhunjhunwala, Lashit Sanghvi and Neha Sanghvi, following an ...

Bajaj Finserv gets regulatory license to start mutual fund business

Bajaj Finserv MF aims to create a tech-driven, multi-channel approach to serve investors across various touchpoints and geographies in order to build a future-ready asset management company

PMS benchmarking norms: Industry players seek three-month extension

Cites technological and compliance challenges ahead of April 1 deadline

Sebi bans Anugrah Stock, 5 others from securities market for up to 7 years

Sebi has barred Anugrah Stock & Broking and five other entities from the securities market for up to seven years in a case pertaining to providing unregulated portfolio management services (PMS). The others banned by the regulator are the brokerage house's directors -- Paresh Mulji Kariya and Sadhana Paresh Kariya -- Teji Mandi Analytics, its director Anil Gopal Gandhi and Om Sri Sai Investments, an associate entity of Anugrah Stock, as per its order. In addition, Sebi has levied a penalty totalling Rs 8 crore on Anugrah Stock, its directors and the associate entity and the fine needs to be paid within 45 days. These four entities were engaged in providing Derivative Advisor Services (DAS) which was in the nature of portfolio management services (PMS) while promising assured returns to the prospective clients. These activities were being carried out without seeking requisite registration under the PMS rules, Sebi said in its 60-page order on Tuesday. While indulging in such ...

NSE gets Sebi nod to launch WTI crude oil, natural gas futures contracts

The National Stock Exchange on Wednesday said it has received approval from markets regulator Sebi to launch the rupee-denominated NYMEX WTI crude oil and natural gas futures contracts in its commodity derivatives segment. The launch date for these contracts will be announced soon, NSE said in a release. Last month, the exchange signed a data licensing agreement with CME Group. The pact allows the bourse to list, trade and settle rupee-denominated NYMEX WTI crude oil and natural gas derivatives contracts on its platform. The addition of these contracts will expand NSE's product offering in the energy basket as well as its overall commodity segment. These contracts are designed to provide the market participants with a more efficient way to manage their price risk, the release said.. Nymex WTI Crude Oil and Natural Gas (Henry Hub) contracts are amongst the world's most traded commodity derivatives contracts generating interest from across the globe. The contracts would provide the

Speeding up reforms: Madhabi Puri Buch's first year as Sebi chief

As first woman at the helm of Sebi, Madhabi Puri Buch brought in a data-driven approach and made regulation more nimble

Sebi bars 21 entities from capital markets in Axis MF case: Interim order

The market regulator said it identified Rs 30.5 crore as wrongful gains accrued due to the alleged front-running activities and directed that this amount be impounded from the entities

'Impound Rs 30.6 crore': Sebi diktat in Axis MF front-running case

The regulator ordered the impounding of Rs 30.6 crore - total wrongful gains earned from front-running activities

Sebi penalises Swastika Investmart for misusing clients' securities, funds

Sebi on Tuesday slapped a fine of Rs 15 lakh on Swastika Investmart Ltd for misutilisation of clients' securities and funds. The order came after the Sebi conducted an inspection of Swastika Investmart Ltd (SIL) for a period from April 2020 to June 2021. Based on the findings of the examination, the regulator initiated adjudication proceedings against Swastika for the alleged violations of Securities contracts (regulations) act (SCRA) and other market norms. In its order, the Securities and Exchange Board of India (Sebi) found that Swastika had misutilised the funds of its credit balance clients for the purpose of settlement/ margin obligations of debit balance clients. The amount of mis-utilisation of credit balance client funds ranged between Rs 6.44 lakh to Rs 1.38 crore. In a separate order, the regulator imposed a fine of Rs 15 lakh on 15 entities for flouting the regulatory norms in the matter of Matra Kaushal Enterprise Ltd (MKEL). The entities are the promoters of MKEL. T