Page 59 - Sebi

AIFs can play critical role in job creation: Former Sebi chief Sinha

Former Sebi chairman U K Sinha on Tuesday said alternative investment funds can play a crucial role in helping the economy meet the challenge of job creation. The career bureaucrat who served as the Sebi chairman for six years said there are other challenges confronting the economy as well, but singled out jobs as a critical function where AIFs can be of help. "Going by many of the macro data that we have, there are problems in our economy today, for example on employment generation," Sinha said while addressing a CII event on AIFs here. "The AIF industry does not exist for itself. It has to serve a larger purpose," said Sinha, who is widely credited to have played an important part in the AIF industry by introducing regulations on the aspect during his tenure as the Sebi chief. He said the AIF industry, which has invested around Rs 5 lakh crore as of now, reminds him of the mutual fund industry of 2012. The AMCs had Rs 6 lakh crore of assets under management and were also facing

Developing LLM to cut approval times further: Sebi member Narayan

Capital markets regulator Sebi is training a large language model (LLM) to further cut processing times on approval requirements, whole time member Ananth Narayan G said on Tuesday. "We are actually starting to train an in-house LLM in Sebi to process, so that the processing times for fresh funds and fresh schemes can come down dramatically," Narayan said, addressing a CII event here. LLMs are advanced AI systems designed to understand and generate human language. They use deep learning techniques and are trained on massive amounts of text data, allowing them to perform tasks like writing, summarizing, and translating text. While efforts to deploy AI and machine learning are on in all sectors, this may be the first time that a financial regulator in the country would have disclosed specific efforts like developing an LLM. Narayan said Sebi has already reduced the time taken for processing applications for clearance on mutual fund schemes and initial public offerings to less than .

Market regulator Sebi weighs easing norms for Alternative Investment Funds

With the checks and balances now in place, we are in a position to consider greater product and innovation flexibility to AIFs, Ananth Narayan, a whole-time member of Sebi board said

Sebi issues administrative warning letter to HDFC Bank over non-compliance

n a letter to the bank, Sebi said the violations by the bank have been viewed seriously, and the bank has been warned to be careful in future

Sebi plans to introduce rules to streamline algo-trading for amateurs

Under the proposal, stock brokers can offer such a facility to retail investors only after getting each program approved by the stock exchanges

Cong raises conflict of interest allegations against Sebi chief in LS

The Congress on Monday levelled conflict of interest allegations against the SEBI chairperson Madhabi Buch and claimed that Finance Minister Nirmala Sitharaman's "failure" to act decisively on it has not only tarnished the credibility of the government but also jeopardised the financial governance framework. Attacking the government over the Adani issue during the discussion on the supplementary demands for grants in Lok Sabha, Congress MP K C Venugopal said a joint parliamentary committee must probe the entire matter. He alleged it is a government "by Adani, of Adani, for Adani". Venugopal said between 2017-2024, Buch allegedly received over Rs 16.4 crore from ICICI bank while serving as a Securities and Exchange Board of India (SEBI) official regulating that bank. "This was five times her salary from SEBI, presenting a blatant conflict of interest," he said. She received rental income from entities linked to a firm under SEBI investigation, said Venugopal, who also heads the Pu

Laxmi Dental secures Sebi approval to raise funds by launching IPO

Dental products company Laxmi Dental Ltd has received Sebi's go-ahead to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday. The proposed IPO is a combination of a fresh issue of equity shares worth Rs 150 crore and an offer for sale (OFS) of 1.28 crore shares by promoters and other shareholders, according to the draft red herring prospectus (DRHP). As a part of the OFS, investor OrbiMed Asia II Mauritius Ltd will offload shares of the IPO-bound company. Besides, the company may consider raising Rs 30 crore in a pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced. As per the update, Laxmi Dental, which filed preliminary IPO papers with Sebi in September, obtained its observation on December 12. In Sebi's parlance, obtaining observation means its go-ahead to float the public issue. Going by the draft papers, proceeds from the fresh issue will be kept aside for investment in subsidiar

GK Energy files draft IPO papers with Sebi, aims to raise Rs 500 cr

Solar-powered agricultural water pump systems provider GK Energy Ltd has filed preliminary papers with markets regulator Sebi to garner funds through an initial public offering (IPO). The proposed IPO of the Pune-based firm is a combination of fresh issue of shares worth Rs 500 crore and an Offer-for-Sale (OFS) of 84 lakh equity shares by selling shareholders, the draft red herring prospectus (DRHP) showed. The company plans a pre-IPO placement of shares aggregating to Rs 100 crore. If the pre-IPO placement is completed, the fresh issue size will be reduced. According to the draft papers filed on Friday, proceeds from the fresh issue to the tune of Rs 422.46 crore will be used to fund its long-term working capital requirements and the remaining funds for general corporate purposes. GK Energy Ltd is a leading pure play provider of engineering, procurement, and commissioning (EPC) services for solar-powered agricultural water pump systems. These solar-powered agricultural water pump

Street Signs: Blow for unlisted trading platforms, LIC boost for REIT mkt

Life Insurance Corporation (LIC) of India has made its first investment in a real estate investment trust (Reit), marking a milestone more than five years after the product's launch in India

Sebi enacts significant changes to disclosure and RPT regulations

Ex-WTM S K Mohanty-led expert panel laid the groundwork for these reforms

Market regulator Sebi's new product: MF's efficiency, PMS' control

New product poses a threat to the PMS industry by combining the advantages of both PMS and MF. Most PMS providers will apply for MF licences to offer new product

Sebi mulls guardrails for retail algo trades to address regulatory gaps

Proposes mandatory empanelment of algo providers, restriction on open API use

Sebi clarifies 'exclusions' from pro-rata distribution mandate for AIFs

Sebi has also allowed managers or sponsors of fund, development financial institutions, or government-owned entities to accept lower returns or share losses beyond their pro-rata rights in investments

Sebi extends deadline to Dec 31 for comments on clearing corps' ownership

Markets regulator Sebi on Friday extended the timeline till December 31 to submit public comments on a proposal of diversifying ownership of clearing corporations, which are at present fully owned by stock exchanges. Sebi floated a consultation paper on the review of ownership and economic structure of clearing corporations (CCs) on November 22 and sought comments on the same by December 13. "Based on the representations received by Sebi from some of the entities/organisations, it has been decided to extend the timeline to submit the public comments on the consultation paper till December 31, 2024," the regulator said in a statement. In its consultation paper, Sebi proposed diversifying and widening the ownership of the clearing corporations, which are at present wholly-owned subsidiaries of stock exchanges. Sebi rules prohibit CCs from listing publicly but allow stock exchanges (their parent entities) to list, indirectly exposing CCs to market pressures. "While looking to broad b

Sebi extends date for comments on appointment process of officials at MIIs

Sebi on Friday extended the deadline to December 31 for submitting public comments on a proposal on the process to appoint key officials of stock exchanges and other market infrastructure institutions and a cooling-off period before they can join a competing institution. Earlier, the deadline was December 12 for submitting comments. In a statement on Friday, the Securities and Exchange Board of India (Sebi) said, "It has been decided to extend the timeline to submit the public comments on the consultation paper till December 31, 2024." The regulator, in its consultation paper issued in November, proposed a process for the appointment of KMPs (key managerial personnel) -- Compliance Officer, Chief Risk Officer, Chief Technology Officer, and Chief Information Security Officer of an MII and cooling-off period for KMPs, including MDs and directors, including public interest directors of an MII joining a competing MII. On the proposed process for appointment, Sebi stated that market ..

Sebi mulls facilitating participation of retail investors in algo trading

Capital markets regulator Sebi on Friday proposed facilitating the participation of retail investors in algorithmic trading (algo trading), which provides advantages of faster order execution and improved liquidity. The proposal, if implemented, is expected to fill in the void for retail investors who want to trade using algos with adequate safeguards. In an effort to enhance market efficiency and transparency, Sebi introduced algo trading through the Direct Market Access (DMA) facility, which provided significant advantages such as faster order execution, reduced transaction costs, greater transparency, better audit trails and improved liquidity. However, access to these facilities has been limited to institutional investors. In its consultation paper on Friday, the Securities and Exchange Board of India (Sebi) proposed extending the existing regulatory framework, with additional safeguards, to facilitate the participation of retail investors in algo trading. "The evolving natur

Sebi trying to reduce float to cut risk, bring transparency: WTM Narayan

Ananth Narayan says total float with brokers, custodians equals a mid-sized bank

Sebi likely to tighten norms for SME listing, widen UPSI definition

Decision likely at board meeting scheduled on December 18

HDFC Bank discloses Sebi warning letter over regulatory non-compliance

Experts say an administrative warning is a less severe action than a fine. However, it serves as a formal notice of non-compliance

Sebi issues warning letter to HDFC Bank for regulatory non-compliance

HDFC Bank said that it will take necessary steps to address the concerns and directives mentioned in the letter