Page 24 - Securities And Exchange Board Of India

Desperate retail investors drive India's futures and options craze

The Securities and Exchange Board of India's crackdown on social-media influencers peddling advice is a losing battle.

Sebi to frame rules for REITs, InvITs issuing subordinate units to sponsors

Capital markets regulator Sebi is looking to come out with a framework for the issuance of subordinate units by REITs and InvITs to sponsors and their associates. Additionally, the regulator has proposed a framework for unit-based employee benefits (UBEB) in the context of REITs (real estate investment trusts) and InvITs (infrastructure investment trusts). The Securities and Exchange Board of India (Sebi) has sought comments from the public till December 29 on the proposals. Under the proposed framework, subordinate units can be issued only to the sponsor, its associates and sponsor group, such units should carry only inferior voting as compared to ordinary units and the units can be issued to the eligible entities in the initial offer or in any offering subsequent to the initial offer, Sebi said in its consultation paper. It further suggested that subordinate units can only be transferred inter-se amongst the sponsor entities. "Any issuance of subordinate units post initial offer

Sebi is looking to create a new asset class, says Madhabi Puri Buch

Capital markets regulator Sebi is looking to create a new asset class -- which lies between mutual funds and portfolio management services (PMS) -- and the new product can cater to high-risk investors, its chief Madhabi Puri Buch said on Friday. The Sebi chief said that there is a spectrum of asset classes for investors. Of these, "mutual funds are the highly retail investors, then you have in between a PMS and then you have AIF (alternative investment fund) for private equity". "We feel there is room for an additional asset class somewhere between mutual funds and PMS... Sebi is looking into a whole new asset class," Buch told reporters here at the sidelines of a CII event. In October, mutual funds industry body AMFI clarified that the idea of introducing a new asset class, which lies between mutual funds and PMS, was at a "very nascent stage". According to the industry body, there was a deliberation within the industry for an instrument that caters to investors who are looking fo

Municipalities can look at escrow account structure to garner funds: Buch

Markets regulator Sebi's chief Madhabi Puri Buch on Wednesday said municipal authorities can look at having specific escrow accounts to garner funds for various urban infrastructure projects. At an event in the national capital, she said there are a good number of investors who are waiting to invest in urban infrastructure projects. She said that one thing that can help in garnering funds is credit ratings. Generally, an entity with a higher credit rating will be able to raise funds more easily compared to those having less credit worthiness. "Now, the question is to get credit rating. The beautiful part (of) what we have learnt over the last few years' issuances that we have had is (the) structure of creating escrow accounts and therefore, ring fencing certain cash flows. It has really created a fantastic structure in which investors have a lot of faith," the Sebi Chairperson said. Such an escrow account structure will give investors an understanding of "what is outside the ring

Kedaara Capital backs decision made on ESOPs issued to Religare Chairperson

Religare Enterprises on Monday said that Kedaara Capital, the largest shareholder of Care Health Insurance, backed the decision made by the board to issue ESOPs to Religare Chairperson Rashmi Saluja. The clarification comes amid allegations by the Dabur family, which is trying to obtain a controlling stake in Religare Enterprises Ltd (REL), that Saluja allegedly violated IRDAI and Sebi norms. REL is the promoter of Care Health Insurance and Saluja is chairperson of the insurer as well. "Kedaara is a proud shareholder of Care Health Insurance. Led by a best-in-class management team and guided by a strong board, the company has always had the highest standards of governance, compliance and operational excellence," Kedaara Capital Managing Partner Sunish Sharma said in a statement. "We look forward to continuing to support it as it goes from strength to strength," it added. Burman family -- the promoters of Dabur -- has filed a complaint with regulatory authorities seeking a probe in

Sebi board meeting: Key decisions on AIFs, NPOs, REITs, index providers

Markets watchdog Sebi on Saturday approved providing flexibility to Not for Profit Organisations (NPOs) in raising funds through the social stock exchange and also decided to introduce a regulatory framework for index providers. These were among the decisions taken by the board of the Securities and Exchange Board of India (Sebi) during its meeting held here. In a release, the regulator said flexibility will be provided for fund raising by NPOs through the social stock exchange. In this regard, the minimum issue size in case of public issuance of Zero Coupon Zero Principal Instruments (ZCZP) for NPOs on the social stock exchange will be reduced to Rs 50 lakh from Rs 1 crore. Among other decisions, a regulatory framework will be introduced for the index providers to foster transparency and accountability in governance and administration of financial benchmarks in the securities market.

Market regulator Sebi proposes easing trading plans for company insiders

Move aimed at providing promoters more flexibility while dealing in their shares

Burmans write to Sebi seeking probe into Religare share sale by chairperson

The Burman family has written to the Securities and Exchange Board of India, seeking a probe into trades in the shares of the Religare Enterprises Ltd by chairperson Rashmi Saluja

Sebi's job to ensure capital formation: Ananth Narayan at BS BFSI Summit

Sebi WTM Ananth Narayan talks about walking the tightrope between overregulation and underregulation

NCDEX suffers major losses as suspension of futures gets extended

The commodities are paddy (non-basmati), wheat, chana, mustard seed and its derivatives, soybean and its derivatives, crude palm oil and moong

Sebi bars finfluencer from securities market, asks to disgorge Rs 17 cr

'Baap of Chart' gave trade recos in the garb of education courses, mislead clients, alleges Sebi

AIF trustees seek more powers to fulfil their obligations amid Sebi probe

They complain about delayed or no disclosure from investment managers

Sebi finalises SOP to stop promoter misuse of foreign cos for shareholding

With this, these investors will not be able to use overseas insurance companies to secretly own shares of a company and manipulate its share prices

Sebi to pilot Asba-like framework for secondary markets in December: Report

Asba facility is already available for the primary market which ensures that money from an investor gets moved only when an allotment happens

Mid-term report card of Sebi chief shows her priorities have worked

While Sebi has always defined its role as that of a troika of development of the capital markets, their regulation and protection of investor interests, Buch has drawn the lines linking them

Sebi should stand firm, finish its Adani probe in timely manner: Cong

The Congress on Thursday urged the SEBI to stand firm and finish its investigation into the Adani matter in a timely manner, even as it reiterated that only a JPC probe can investigate the full scope of the issue. In a post on X, Congress general secretary Jairam Ramesh cited a media report which claimed that the Securities and Exchange Board of India (SEBI) has asked the Organized Crime and Corruption Reporting Project (OCCRP) to give it access to key documents about the allegations of stock manipulation and accounting fraud against the Adani Group. "Recently, the Organised Crime & Corruption Reporting Project (OCCRP) found clinching evidence that Adani associates were controlling opaque shell companies in overseas tax havens that had amassed huge stakes in Adani Group companies. All this was done in blatant violation of SEBI regulations," Ramesh said. Major global papers like the Financial Times and the Guardian covered the story in detail, he pointed out. "The Adani Group and ..

India's top regulators investigating alternate investment funds: Report

The sources declined to be identified because they are not authorised to speak to the media. Sebi and RBI did not respond to requests for comment

InGovern Research Services writes to Sebi over TD Power IPO disclosures

Proxy firm says regulator should probe omissions of material facts and misstatements in 2011 IPO prospectus

Market regulator Sebi to seek fresh feedback on trading hour extension

Earlier, NSE had said it had carried out an extensive consultation process for about nine months and had obtained consensus from most industry players

Centralised reporting makes claiming shares after investor's death easier

Procedure applies only to Sebi-regulated investments, not to bank accounts, insurance policies, other assets