Page 93 - Sebi

Sebi relaxes timelines for FPIs to make material event disclosures

Markets regulator Sebi on Wednesday relaxed timelines for disclosure of material changes by Foreign Portfolio Investors (FPIs). The regulator categorised material changes notified by FPIs into two groups. Type I group includes changes that require FPIs to seek fresh registration, or which affect any privileges or exemptions available to such foreign investors and Type II includes all other material changes. In its circular, Sebi said that FPIs are required to report Type I changes within seven working days and provide supporting documents within 30 days and Type II changes require notification and supporting documents within 30 days. At present, FPIs get up to seven working days to submit information to the watchdog with regard to any material change in its structure or ownership or control or investor group. Some of the Type 1 material changes include change of jurisdiction; name change on account of acquisition, merger, demerger, and ownership. Type II is any material changes oth

Sebi forms panel to review ownership, economic structure of clearing corps

Capital markets regulator Sebi on Tuesday said it has set up a committee to review the ownership and economic structure of clearing corporations and suggest measures to ensure that clearing corporations function as resilient, independent, and neutral risk managers. The ad-hoc committee would be chaired by Usha Thorat, former Deputy Governor of the Reserve Bank of India (RBI). The decision has been taken in the wake of the substantial growth of Indian securities markets in recent years and the importance of clearing corporations as central risk management institutions. In a statement, Sebi said that the committee has been entrusted with the task of reviewing ownership structure as well as finances of clearing corporations. With regards to ownership structure, the committee will examine the feasibility, and broadening the list of eligible investors, who are allowed to take shareholding in a clearing corporation and suggest categories of investors who can acquire stakes in such ...

Sebi launches 'Saarthi 2.0' mobile app for investors: All you need to know

The app is packed with tools to make complex financial concepts easier to understand, according to Sebi

Sebi seeks firms make additional disclosures to fast track public offers

The regulator has sought 31 additional disclosures, the most significant of which are information about conflict of interest with management, directors, large shareholders and subsidiaries

Sebi launches app for investor awareness; Kronox Lab IPO subscribed 11x

Along with videos to help investors to do personal finance planning, the app also has financial calculators, modules to explain Know-Your-Customer (KYC) procedures, information on mutual funds

Sebi seeks additional IPO disclosures to speed up clearance process

After a co files for IPO, Sebi may seek additional details from merchant bankers, and the companies can also file addendums to their draft documents based on clarifications sought by market regulator

Sebi introduces 'Saarthi 2.0' mobile app on personal finance for investors

Capital markets regulator Sebi on Monday launched a mobile app 'Saa?thi 2.0' on personal finance for investors with comprehensive tools aimed at simplifying complex financial concepts. "The updated 'Saa?thi' app introduces a user-friendly interface with comprehensive tools aimed at simplifying complex financial concepts," Sebi said in a statement. The app includes financial calculators and has modules that introduce and explain KYC procedures, mutual funds, ETFs, buying and selling shares on stock exchanges, investor grievances redressal mechanism, and the Online Dispute Resolution (ODR) platform. Additionally, the app features a range of videos designed to assist investors in their personal finance planning. "In today's era, where social media sometimes provides biased or misleading information, there is a significant need for an unbiased, objective, and trusted source of investment information," Ananth Narayan G, Whole Time Member, said during the launch. "The Saa?thi app serves

Venturing into the deep: Credit funds chase 8.5% yields in risk-heavy seas

Money managers set sail with lower-rated papers in a rising corporate tide

Top 100 firms must verify market rumours within 24 hrs starting today

The top 100 listed companies by market capitalization will have to confirm or deny any market rumour reported in the mainstream media from this Saturday. The rule will be applicable for top 250 companies from December 1. Under the Sebi's rule, these companies will have to 'confirm, deny, or clarify any reported event or information in the mainstream media that is not general in nature and that indicates that rumours of an impending specific material event' are circulating amongst the investing public within 24 hours from the reporting of the information. Sebi through its newly introduced rumour verification framework has excluded the price volatility in arriving at average market price for the purpose of corporate actions in a bid to make it fair for all investors at large. "The move would dissuade leaking of information that would affect the valuation in the given corporation action. This initiative of Sebi would help strengthen the rumour verification framework. It would help in

Market regulator Sebi fines 11 individuals for pump and dump scheme

The pump and dump scheme was operated through recommendations shared through Telegram channels, resulting in public shareholders purchasing the stock at an inflated price

Call on Burman family open offer rests with Sebi: Religare's Saluja

Says cooperating with Sebi, Irdai on allegations of insider trading, ESOP irregularities; Denies any wrongdoing

Sebi slaps Rs 11.90 cr fine on 19 entities for 'pump and dump' scheme

Sebi on Wednesday slapped penalties totalling Rs 11.90 crore on 19 entities and also barred them from the securities market for up to five years for indulging in a pump and dump scheme of shares in the matter of Superior Finlease Ltd. The regulator imposed fines in the range of Rs 10 lakh to Rs 5 crore on 19 entities, including Rajneesh Kumar, Ashish P Shah and Kirtidan K Gadhavi. Further, Sebi also barred 17 entities, including Kumar, Shah, and Gadhavi from the securities markets for five years. In addition, the markets watchdog barred Jalaj Agrawal and Arvind Shukla from the securities markets for three years. In its 54-page final order, Sebi said, "The noticees have orchestrated a wellplanned 'pump and dump' operation in the scrip of SFL. "The mastermind behind this whole operation was Noticee 1 (Rajneesh Kumar), who was not just a shareholder director of SFL, but also happened to be a director of a Sebi-registered intermediary, Indian Finance Guaranty Ltd (IFGL)." "Rajneesh Ku

Sebi slaps Rs 2.5 cr fine on TIL, former officials over 'fake' transactions

Markets regulator Sebi has imposed a penalty of Rs 2.5 crore on TIL Ltd and three former officials for indulging in fictitious purchase and sales leading to over-statement of sales and revenue for 2019-20 and 2020-21. The fine needs to be paid within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. Individually, the regulator has levied a fine of Rs 1 crore each on TIL and Sumit Mazumder, who was the chairman and managing director at the time of the violation. He is also one of the promoters of the company. Besides, a penalty of Rs 25 lakh each has been imposed on then CEO Ramesh Aggarwal and former CFO Shibaditya Ghosh. In its order, Sebi noted that the modus operandi followed by TIL was that it had issued fictitious invoices in the past financial years, which were subsequently cancelled in the next financial years by the issuance of credit notes and re-invoiced on the same day without proper documents to increase the sales turnover or trade receivabl

Investing in g-secs; building small portfolio: Top personal finance stories

Our top stop stories this week tell you about the pros and cons of government securities and what investors must know about compounding

Sebi tweaks framework for clearing firms on liquid assets as collateral

Capital markets regulator Sebi has tweaked guidelines for accepting liquid assets as collateral by clearing corporations (CCs) and put in place prudential norms for exposure of such entities in a bid to strengthen the risk management framework. Clearing corporations accept liquid assets with applicable haircuts to meet the requirements for initial margins and mark to market losses among others. In its circular, the regulator said that units of growth plan of overnight mutual fund schemes would be accepted as cash equivalent by CCs with a haircut of 5 percent and for other plans of overnight mutual fund schemes, the hair cut of 10 percent would continue to be applicable. Overnight mutual funds invest only in overnight securities having maturity of one day. Further, equity shares with impact cost of up to 0.1 percent for an order value of Rs 1 lakh and traded for 99 percent of days over the period of previous six months would be accepted as part of other liquid assets, it said. "In

Sebi reduces approval time to 7 days for brokers for internet-based trading

Markets regulator Sebi on Thursday significantly reduced the time taken by stock exchanges for granting approval to stock brokers for internet-based trading to seven days from the current 30 days. The move is aimed at facilitating ease of doing business. Under the rule, the broker is required to apply to the respective stock exchange for a formal permission to provide internet-based trading service. Further, the stock exchange, which was required to communicate its decision to the member within 30 calendar days, will now have to do so within 7 days, the Securities and Exchange Board of India (Sebi) said in its circular. The internet trading can take place through order routing systems, which will route client orders to exchange trading systems for execution. Thus a client sitting in any part of the country can trade using the internet as a medium through brokers' internet trading systems. Additionally, the regulator has abolished the existing requirement of periodic confirmation

Sebi issues rules for inspection of warehouses by clearing corporations

Capital markets regulator Sebi on Wednesday simplified guidelines on the requirement of inspection of warehouses by clearing corporations. In its circular, Sebi said that the requirement of two inspections in a calendar year can be done away with for accredited storage facilities with 'nil' stock, continuously during the preceding six months. In these cases, the number of inspections by an independent agency can be limited to once in a calendar year, it added. With no stocks for the entire year, the regulator said that no independent inspections are needed. Before accepting new deposits, facilities with no inspections in the previous year must comply with in-house inspection requirements. This decision is aimed at streamlining the inspection process and reducing unnecessary inspections for facilities without stocks, promoting ease of doing business while ensuring readiness and compliance. Under the current rules, there is a requirement for clearing corporations to conduct independ

FPIs may lose exemption benefits as Sebi issues updated SOPs for custodians

The SOP also provides certain examples of the structures followed by regulators in other jurisdictions like the United States and Australia

Plea in Delhi HC to expedite NSE IPO; court seeks reply from Sebi, NSE

The court seeks reply from Sebi, NSE on the plea

Rise in related-party transactions outpaces sales growth, shows data

Share has risen as a percentage of net sales