Page 78 - Sebi

Sebi approves IIHL's acquisition of PMS business unit of Invesco AMC

Capital market regulator Sebi has granted its approval to Hinduja Group firm IndusInd International Holdings for the acquisition of Invesco AMC's portfolio management services business. According to sources, Sebi's approval marks the completion of a crucial phase in IndusInd International Holdings Limited's (IIHL) 60 per cent acquisition of Invesco AMC, leaving only one final regulatory approval before the transaction can be completed. An application seeking the Securities and Exchange Board of India's green signal for grant of sponsor approval to IIHL is in process and upon receipt, IIHL will proceed with consummation of the transaction, sources said. The Competition Commission of India (CCI) has already granted its consent to IIHL for acquiring 60 per cent shareholding in each of InvescoAsset Management (India) Pvt Ltd and Invesco Trustee Pvt Ltd. IIHL will be holding the investment through its wholly-owned and controlled subsidiary. The company had earlier bid and emerged ...

Sebi's recovery rate remains below 2% of notices sent over a decade

The remaining recovery of 98.3 per cent has not been realised in practice. These notices cover collective investment schemes (CIS), deemed public issues (DPI), and other matters

Sebi cancels 68 market intermediaries' registrations due to non-compliance

Sebi has revoked the registrations of 68 market intermediaries, including 39 stock brokers, 7 commodity brokers, and 22 depository participants, for failing to meet required compliance standards

Amid growing concerns of risks, Sebi amends rules to regulate finfluencers

Markets watchdog Sebi has amended norms in a bid to regulate unregistered financial influencers or finfluencers amid growing concerns about potential risk associated with such unregistered persons. In three separate notifications, the regulator has restricted associations between its regulated entities and unregistered individuals. This came after the board of Sebi approved a proposal in this regard last month. As per the notifications, the persons regulated by Sebi and the agents of such persons will not have any association like any transaction involving money, referral of a client, interaction of information technology systems with any other person who, directly or indirectly, provides advice, recommendation or makes explicit claim of return. "No person regulated by the Board (Sebi) or the agent of such a person shall have any direct or indirect association, with another person who provides advice or any recommendation, directly or indirectly, in respect of or related to a ...

Sebi proposes mandatory maintenance of communication record for eight yrs

Markets regulator Sebi on Thursday proposed to make it mandatory for all entities regulated by it to maintain communication records, including acknowledgements, for at least eight years. The move is aimed at improving regulatory compliance, increase transparency, protect investors' interest and boost their confidence in the securities market. In its consultation paper, the regulator suggested that all entities regulated by it should maintain records of all required communications, including acknowledgements, for at least eight years as per their governing regulations. These records must be made available to Sebi upon request, ensuring transparency and accountability. The Securities and Exchange Board of India (Sebi) has sought comments on the consultation paper till September 13. Under the current regulatory regime, Sebi-regulated entities are mandated to communicate various types of information to numerous stakeholders. This enables a regular and timely disbursal of information t

Market buoyancy significantly boosts success rate of firms launching IPOs

The IPO filing-to-approval lapsing ratio this year is the best in three years, underscoring the improvement in the IPO market's buoyancy

In first address after Hindenburg, Sebi chair urges 'trust, compliance'

Puri Buch declined to address the allegations or the questions surrounding her ownership in consultancy firms on the sidelines of the event

Sebi mulls proposals on PIDs' appointment process at key institutions

Sebi on Thursday came out with proposals connected with the process adopted by the markets regulator for the appointment of public interest directors (PIDs) on stock exchanges, clearing corporations and depositories, in a move aimed at improving shareholders' participation in the process. For improving ease of doing business for PIDs, the proposals include easing documentation requirements when being considered for PID appointment, allowing payment of fixed stipend to them in addition to sitting fees, and reducing cooling off period for their appointment. "The role of PIDs is vital in enhancing corporate integrity and governance standards in any market infrastructure institutions (MIIs). PIDs, especially, play a vital role in balancing the interests of MII's management, its shareholders and more importantly ensuring the safety, efficiency and integrity for the market participants using the infrastructure of these MIIs. "PIDs ensure that in pursuance of their business objectives, MII

Sebi receives suggestions from stakeholders on F&O trading discussion paper

Capital markets regulator Sebi has received suggestions from around 6,000 stakeholders on the consultation paper floated on Futures & Options (F&O) trading, its chief Madhabi Puri Buch said on Thursday. In its consultation paper floated in July, the regulator proposed seven measures, including increasing minimum contract size and upfront collection of option premiums, intra-day monitoring of position limits, rationalisation of strike prices, removal of calendar spread benefit on expiry day and increase in near contract expiry margin. These measures are aimed at enhancing investor protection and promoting market stability in derivative markets. Speaking at Global Fintech Fest 2024, Buch said that the regulator has received comments from around 6,000 stakeholders on the consultation paper on the F&O segment. Also, technology has validated faster processing of such enormous amounts of feedback. Additionally, she said that the Securities and Exchange Board of India (Sebi) is ..

Industry came forward for rules on small, medium Reits, says Sebi chief

Sebi chief Madhabi Puri Buch on Thursday said there has been a positive response to small and medium REITs (real estate investment trusts) and industry players came forward for regulations on such entities. Recently, the Securities and Exchange Board of India (Sebi) implemented regulations for small and medium real estate investment trusts (SM REITs) aimed at significantly increasing investor interest in fractional ownership of real estate assets. Speaking at the Global Fintech Fest 2024, Buch spoke about compliances and the role of the regulator and said that industry players came forward for regulations on small and medium REITs. The remarks by the Sebi chairperson came days after the US short-seller Hindenburg Research alleged that recent amendments to Sebi's REIT Regulations 2014 were made to benefit a specific multinational financial conglomerate. However, the markets regulator had stated that Sebi (REIT) Regulations, 2014 has been amended from time to time. Also, Hindenburg

Sebi proposes overhaul of investment banking norms amid boom in ECM

10x hike in net worth; more clarity on roles, responsibilities

Sebi proposes mandatory UPI block secondary market for larger brokers

Under the block mechanism, the amount is not deducted from the bank account unless the transaction takes place

Sebi seeks RBI support to boost participation in corporate bond repo market

Market players said that ARCL is not classified as a Qualified Central Counterparty (QCCP), which restricts participation from banks and PDs

Sebi cautions against 'unrealistic picture' painted by SME promoters

Cites recent findings on promoter misconduct and fictitious transactions to inflate price

HC orders Sebi, NSE, BSE to pay Rs 80 lakh for illegal demat a/c freezing

Court termed freezing a classic example of "high-handed and reckless" action

Sebi cautions investors against SME companies doing price manipulation

Amid certain SME companies resorting to share price manipulation by projecting an unrealistic picture of their operations, Sebi on Wednesday cautioned investors against putting their money in scrips of such firms. Sebi, in a statement, said it has come to its notice that post-listing, some of the SME companies or their promoters have been making public announcements that create a positive picture of their operations. Such announcements are followed by various corporate actions like bonus issues, stock splits and preferential allotments. The actions create a positive sentiment amongst investors, which induces them to purchase such securities. Simultaneously, this also presents an easy opportunity to the promoters to offload their holdings in such companies at elevated prices. "Sebi urges investors to be careful and watchful of the aforesaid patterns and exercise caution while investing in such securities. Further, investors are advised to not rely on unverified social media posts and

Sebi bans Rana Sugars' promoters from mkt for 2 yrs; imposes Rs 63 cr fine

Markets regulator Sebi has debarred 14 entities including, Rana Sugars promoters' and other related entities from the securities markets for two years and slapped a Rs 63-crore fine on them on charges of diversion of funds. The regulator also prohibited Inder Pratap Singh Rana (promoter), Ranjit Singh Rana (Chairman), Veer Pratap Singh Rana (MD), Gurjeet Singh Rana, Karan Pratap Singh Rana, Rajbans Kaur, Preet Inder Singh Rana and Sukhjinder Kaur (promoter) from holding any position as director or key managerial person of any other listed company for two years. Ranjit Singh, Veer Pratap and Sukhjinder Kaur were also the promoters of Rana Sugars Ltd, as per the exchange data. Individually, Sebi imposed penalties in the range of Rs 3 crore to 7 crore on Rana Sugars, its promoters, and other related entities. "I find that noticee No 1 to 9, who are promoters of RSL and beneficiaries of such diversion of funds from RSL, have violated PFUTP (Prohibition of Fraudulent and Unfair Trade ..

Regulators' panel brainstorm on taking action on spammers making robo calls

A joint panel of sectoral regulators brainstormed on taking urgent action on spammers making promotional voice, robo and pre-recorded calls in a meeting convened by the telecom regulator Trai on Tuesday. The joint committee of regulators (JCOR) was attended by the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi), Insurance Regulatory and Development Authority of India (Irdai), Pension Fund Regulatory and Development Authority (PFRDA), Ministry of Consumer Affairs (MoCA) and Ministry of Electronics and IT (MeitY), an official statement said. The Department of Telecom (DoT) and Home Ministry representatives also attended the meeting as special guests. The regulators deliberated on business entities making commercial voice calls using cloud-based telephony and fixed-line connection-based private exchanges, with hundreds of indicators in violation of Trai's regulations. "These entities should be migrated to the designated 140 series for making promotional call

hBits aims to list first SM REITs by Q3FY25, applies for licence with Sebi

The company stated that this strategic move is part of hBits' commitment to democratising access to commercial real estate investments for retail investors across India

NSE files for Sebi NOC to gain approval for long-awaited IPO listing

In its annual general meeting held on Tuesday, the exchange informed shareholders that the board had given approval to file for a fresh NOC with the market regulator