Page 22 - Sebi

Sebi cracks down on Zee Business trades, slaps ₹4 cr fine; bans 4 entities

Sebi on Monday barred four entities from the securities market for two years and imposed a penalty totalling Rs 4 crore on them for executing trades based on advance information of stock recommendations given by guest experts on the Zee Business channel. "The said debarment period shall be reckoned from the date of the Interim order dated February 08, 2024," Sebi said in its 55-page final order. Individually, the regulator fined Rs 50 lakh on Partha Sarathi Dhar, Rs 75 lakh each on Manan Sharecom and Kanhya Trading Company, and Rs 2 crore on SAAR Commodities. In its order, Sebi noted that the four entities made a profit by executing trades based on advance information of stock recommendations given by guest experts. The investigation found that stock tips were pre-shared with select entities, giving them an unfair advantage over public investors. These entities placed trades in advance and booked profits once the stock prices moved following the televised tips. Evidence collected

Jane Street seeks more time from Sebi to respond to July 3 order

The regulator lifted the trading ban on the HFT firm after it deposited ₹4,843.57 crore in an escrow account

Why angel investors in India may soon be rarer than Bengal tigers

Sebi wants individuals to get accredited like US investors, but with only 650 approvals so far, India's angel investors are rarer than Bengal tigers, threatening early-stage funding

Street Signs: Phantom trader returns, compliance burden on fund managers

A new institutional mechanism to check market abuse is expected to relax certain compliance rules for fund managers starting next month

India's derivatives delusion: Regulatory triumph exposes market flaws

The larger question is whether India's F&O market serves any real purpose

One nation, one KYC: Sebi shows the way, other regulators should follow

Other regulators should follow Sebi's lead in explicitly stating that once a client completes KYC with one intermediary, they shouldn't have to repeat the process with another

Sebi cancels registration of 13 advisers over non-payment of renewal fees

Markets regulator Sebi on Friday cancelled the registration of 13 entities as investment advisers after they failed to pay the renewal fees. "The main purpose of cancellation of certificate of registration, as investment adviser, of the noticees (13 entities) is to prevent the misuse of their expired certificate of registration with Sebi on unaware investors," the regulator said in its order. However, Sebi clarified that these entities would continue to be liable for anything done or omitted to be done as investment advisers despite the cancellation of registration. These 13 entities are -- Manjeet Singh Vohra, Tarun Kumar Sapra, Gowri Suganya B, Sanjay Subodhchandra Shukla, Shaji George, Ravi Mittal, VBS Investments, Ravishankar K Iyer, MG Funds, Sandeep Ahuja, Harsh Agarwal, Varun Jalan and Gaurav Kedia. Considering that the entities have not paid the renewal fees to keep the registration in force, and their registration certificates as investment advisers have expired, Sebi has

Sebi considers easing rules for issuers of non-convertible securities

Markets regulator Sebi on Friday proposed to ease the rules for issuers of non-convertible securities by replacing the requirement of sending a hard copy of financials and annual reports to security holders with a web link and quick response (QR) code to access the same. The relaxation from sending physical copies of financials will result in cost savings and prevent paper wastage. Also, this would lead to regulatory consistency and ease of doing business. In its consultation paper, Sebi suggested that issuers should send a letter providing the quick response code and web link, including the exact path, where complete details of the annual report are available, to holders of non-convertible securities. The provision of a QR code is proposed to be incorporated to facilitate ease of access for the debenture holders, the regulator said. Additionally, Sebi proposed specifying timelines for issuers having listed non-convertible securities regarding the requirements of sending a copy of

The Revenge of Badla: How early 2000s market shifts fuel Jane Street case

The Badla system was a hybrid cash & futures trading product. It was offered on the BSE, and had been an age-old system for trading on margin

Co-working firm Executive Centre to raise Rs 2,600 cr via fresh issue

Bengaluru-based The Executive Centre (TEC) plans to raise Rs 2,600 crore via a fresh issue of equity shares and has filed its Draft Red Herring Prospectus (DRHP) with SEBI for the proposed issue

Sebi tells Linde: No room for word games in related party norms definition

Market regulator and public shareholders accuse industrial gases firm of splitting hairs to escape scrutiny over dealings with its arm

Sebi shares info on Jane Street's high-frequency trading case with US SEC

Earlier this month, Sebi had temporarily barred Jane Street from accessing Indian markets, accusing the firm of manipulating the popular Bank Nifty index

Trai meets RBI, Sebi, MHA, Meity, other regulators on curbing spam, fraud

Trai, along with sectoral regulators, discussed measures to curb spam and fraud, including a phased transition to the 1600-series for commercial calls and a new digital consent mechanism

Cyber threats, volatility pose challenge to rising investor trend: Sebi WTM

With an increasing number of savers stepping into the capital markets, Sebi Whole-Time Member Ananth Narayan on Tuesday highlighted that cyber threats, market volatility, and a trust deficit in the financial ecosystem could pose significant challenges to this growing investor trend. Over the years, the number of unique investors in India's capital markets has risen sharply from 4.2 crore in March 2020 to 13 crore to date. Despite this remarkable growth, there remains considerable room for further expansion. While acknowledging the rise of domestic investors, Narayan stressed the importance of addressing the challenges to sustain the momentum. Among these challenges, he noted that risks such as cyber risk and digital frauds are a serious concern. Fraudsters-- often sophisticated and organized-- prey on unsuspecting investors, making cybersecurity a key area of focus. Alongside this, investors need to be fully aware of market volatility, he said, emphasising that market movements are

Ireda plans ₹2,500-3,000 crore QIP to dilute 3.76% govt stake this year

State-owned IREDA plans to raise Rs 2,500-3,000 crore through qualified institutional placement route this fiscal as it looks to dilute another 3.76 per cent of the government holding in the company following a successful IPO in December 2023, a top company official said Monday. The company also said it had an exposure of Rs 700 crore to the crisis-hit Gensol Engineering and it has already recovered a little over Rs 100 crore by way of various instruments, including encashing their bank guarantees as well as withdrawal of the FD money. Gensol had acted as a financier and lessor of vehicles to the all-electric ride-hailing company Blue Smart. The Ahmedabad bench of the National Company Law Tribunal (NCLT) has already admitted to corporate insolvency proceedings against Gensol Engineering, following a petition by IREDA. In April this year, in an interim order, Sebi barred Gensol Engineering and promoters -- Anmol Singh Jaggi and Puneet Singh Jaggi -- from the securities markets till

Sebi proposal to allow AMCs to manage family office funds sparks debate

Sebi's plan to let AMCs manage non-broad-based pooled funds without PMS licences has sparked debate over regulatory parity, competitive fairness, and market safeguards

Market regulator Sebi cautions investors against dabba trading practice

Sebi cautions investors against dabba trading, an illegal off-market activity, following an unregulated advertisement and assures action against those involved

US trading firm Jane Street confirms it will comply with directive: Sebi

Sebi confirms that Jane Street has complied with its directions to cease unfair trading practices and deposited ₹4,843.57 crore in an escrow account to resume operations in the domestic market

Beyond clicks and scrolls: Digital financial education for Viksit Bharat

Financial literacy should not be an occasional campaign or an app feature-it must be an ongoing, evolving journey

Jane Street to resume trading: Arbitrage vs market manipulation explained

Market regulator Sebi alleges Jane Street used coordinated trades to distort index prices and profit from expiry-day volatility. The firm denies wrongdoing and has challenged the ban