18 March 2018
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  • Sebi allows UCX to exit commodity biz
    Mar 17, 2018
    Markets regulator Sebi today allowed the Universal Commodity Exchange (UCX) to discontinue operations as a commodity bourse. In 2012, UCX was granted recognition as a multi-commodity exchange. The board of UCX had suspended trading operations with effect from July 16, 2014 in view of the "drastic" decline in trading volume. Thereafter, the exchange has made no attempts for revival of trading and not formulated any plan for the purpose of its revival, according to a Sebi order.
  • Sebi raises currency derivative trade limit to $100 mn
    Mar 16, 2018
    Capital markets regulator Sebi today raised the exposure limit under exchange-traded currency derivatives trading for residents and FPIs to USD 100 million across all currency pairs involving the Indian rupee. The move will help entities engaged in forex transactions to maintain their currency risks in a better manner. The decision comes after the Reserve Bank of India (RBI) in February raised these limits, beyond which market participants would be required to establish proof of underlying exposure in the currency derivatives segment.
  • Sebi plans to link retail investors’ exposure to derivatives with income
    Mar 15, 2018
    Markets regulator Sebi is considering linking retail investors’ exposure to derivatives with their income, a move aimed at preventing them from taking unreasonable positions in risky instruments.The issue is expected to be discussed at the board meeting of the Securities and Exchange Board of India (Sebi) this month, officials said. According to Sebi, trading turnover in these products has seen a sharp surge of over ten-fold over the past decade, during which the ratio of trades in equity derivatives to that of equity cash market has risen to over 15-times.
  • SEBI may open depository services to corporates, private entities
    Mar 13, 2018
    In a bid to end the dominance of the two central demat service providers, NSDL and CDSL, a SEBI appointed panel is likely to propose allowing corporate houses or private companies to get into the segment. The panel, headed by former RBI Deputy Governor R Gandhi, may also suggest easing the grip of stock exchanges on clearing corporations (CC). The panel was set up by SEBI in 2017 to review the norms for market infrastructure institutions.
  • SEBI may open depository services to corporates, private entities
    Mar 12, 2018
    In a bid to end the dominance of the two central demat service providers, NSDL and CDSL, a SEBI appointed panel is likely to propose allowing corporate houses or private companies to get into the segment. The panel, headed by former RBI Deputy Governor R Gandhi, may also suggest easing the grip of stock exchanges on clearing corporations (CC). The panel was set up by SEBI in 2017 to review the norms for market infrastructure institutions.
  • RBI plan to tweak limits in currency derivatives hits Sebi hurdle
    Mar 08, 2018
    The Reserve Bank of India’s (RBI) latest proposal to enhance clients’ position limit to $100 million in exchange-traded currency derivatives has hit a regulatory wall at the Securities and Exchange Board of India or Sebi. Sebi has said the new limit cannot be implemented until there is a mechanism in place to verify a potential breach by clients, two people with direct knowledge of the ongoing discussions said, requesting anonymity. Position limit is the maximum ownership in derivative contracts that an individual or an entity cannot exceed.
  • Paytm gets Sebi's nod to sell investment, wealth management products
    Mar 07, 2018
    Financial services platform Paytm today said its wholly-owned subsidiary, Paytm Money, has received approval of market regulator SEBI to become a registered Investment Advisor. The nod from the Securities and Exchange Board of India will allow the company to roll out investment and wealth management products to consumers across the country, Paytm said in a statement."Paytm Money is currently completing integrations with the respective compliance and regulatory authorities for KYC under the SEBI regulations.
  • Sebi plans safeguards for overseas investors taking private bank route
    Feb 23, 2018
    The Securities and Exchange Board of India (Sebi) is planning checks and balances on overseas investors taking the ‘private bank route’ to invest in domestic markets. The move comes after several industry players expressed concerns that the new route allowed by the Sebi could be misused by investors, such as participatory notes (p-notes). Last week, the Sebi – through a circular titled “Easing of access norms for investment by foreign portfolio investors – allowed clients of private banks to trade in the Indian equities without having to register with the market regulator.
  • Sebi asks banks to compensate retail investors if they fail to allot shares in an IPO
    Feb 16, 2018
    Markets regulator Sebi today said retail investors applying for shares in IPOs would need to be compensated if bankers fail to make the allotment despite their eligibility. Besides, the public issue banker would need to pay an interest amount of 15 per cent to the investors for failing to resolve the grievance within 15 days, while they may also face Sebi's action for such failures. Putting in place a framework to compensate retail investors who fail to get securities in an IPO, Sebi said there should be a uniform policy for calculation of minimum compensation payable to investors.
    Feb 15, 2018
    Market regulator Sebi is readying a framework for issuance of participatory notes (p-notes) from international financial services centres such as GIFT City. It is in talks with FPIs, which act as issuers of p-notes, sources said. The move comes at a time when Indian bourses have terminated licensing of indices and data-feed agreements with their foreign counterparts. This will force overseas investors to either invest directly or come through GIFT City to trade in Indian securities.
  • Sebi revamps Secondary Market Advisory Committee to improve market safety
    Feb 13, 2018
    Markets regulator Sebi has reorganised the committee that advises it on matters related to secondary market, including suggesting steps to improve market safety, efficiency and transparency.The Secondary Market Advisory Committee is chaired by IIM Ahmedabad Professor and former whole-time member of Sebi, Jayanth R Varma.Besides Varma, the expert panel consists of 19 members, including top executives of nation's leading bourses - NSE, BSE and Metropolitan Stock Exchange of India Ltd (MSEI) - as well as government representatives.
  • Sebi asks MFs to disclose total expense charge on daily basis
    Feb 07, 2018
    Pushing for uniformity in disclosures, Sebi has asked mutual fund houses to prominently disclose on a daily basis the total expenses charged to customers for all schemes under a separate head on their websites. The markets regulator also asked them to communicate to investors any change in the base Total Expense Ratio (TER) of the scheme through email or SMS at least three working days prior to effecting such change.
  • Sebi, government in talks for transfer of surplus funds
    Feb 01, 2018
    Capital markets regulator, the Securities and Exchange Board of India (Sebi) and the government are in fresh talks to transfer the former’s surplus funds to the government. The Centre has been eyeing these resources, which would enable it to reduce the fiscal deficit. The move, however, was seen as contentious as it potentially amounted to an infringement on the independence of the regulatory body. “It has been a long-pending demand from the government to transfer Sebi’s surplus funds into a public account,” said a source.
  • Sebi weighs tighter norms to protect market liquidity
    Jan 30, 2018
    India’s market regulator is weighing options to direct stock exchanges to either stop offering securities-related data feed services to entities trading on bourses abroad, such as the Singapore Stock Exchange (SGX), or levy high additional fees on the traders.Two persons directly aware of the ongoing discussions between the Securities and Exchange Board of India (Sebi) and stock exchanges said the markets regulator was doing this in an effort to prevent the country’s derivatives business from migrating offshore.
  • Sebi plans to open consent doors for serious violations
    Jan 22, 2018
    The Securities and Exchange Board of India (Sebi) is broadening the scope of the consent mechanism to reduce the number of cases it is handling. According to sources, the regulator is planning to allow serious offences such as insider trading, front running, or fraudulent and unfair practices to be settled under the mechanism. Sources privy to the development said Sebi would take a fresh look at the pricing formulae to decide the settlement amount under consent. Currently, the formulae prescribed by Sebi have too many variables, making the process ambiguous.
  • WhatsApp case will test SEBI’s ability to crack encrypted leaks
    Jan 10, 2018
    Market regulator SEBI’s probe into the recent ‘earnings leak’ may be a test of its mettle in gathering evidence on insider-trading relying on encrypted digital technology.Media reports last November suggested that quarterly results of nearly a dozen companies were circulating on Whatsapp groups. The regulator is seeking help from forensic and cyber security experts to crack the case, a source close to the development told BusinessLine.SEBI recently conducted searches on stock market analysts and traders, seizing laptops, mobiles and other digital devices through which key financial numbers of companies were circulated ahead of their official release. Finding out which company officials, if any, leaked information, will be key to cracking the case.
  • Hedge fund tax rule sought by Sebi would boost demand
    Jan 09, 2018
    India’s market regulator has recommended new tax rules for alternative investment funds, people familiar with the matter said, a move that would boost the country’s fledgling hedge fund industry. The Securities and Exchange Board of India (Sebi) is seeking “unit-based” taxation for products broadly classified as hedge funds as part of its proposals for the union budget due on 1 February, said the people, who asked not to be identified because the matter is confidential.
  • MF schemes must reveal how they fared against total return of benchmark: SEBI
    Jan 05, 2018
    The Securities and Exchange Board of India on Thursday asked mutual fund schemes to compare their performance with the Total Return Index of the benchmark. At present, most mutual fund schemes (other than debt schemes) are benchmarked to the Price Return variant of an Index (PRI), which only captures capital gains of the index constituents. On the other hand, the TRI takes into account all dividends/interest payments that are generated from the basket of constituents that make up the index, in addition to the capital gains.
  • Sebi eases 'scheme of arrangement' rules for listed companies
    Jan 04, 2018
    Markets regulator Sebi on Wednesday relaxed disclosure, promoters' share lock-in and listing related compliance requirements for listed firms undertaking 'schemes of arrangement' such as mergers and demergers, including those involving subsidiaries and their divisions. The move is aimed at expediting the processing of draft schemes.The decision has been taken after Sebi received representations suggesting improvements to the existing regulatory framework, the Securities and Exchange Board of India (Sebi) said in a circular.
  • Sebi issues fresh consultation papers on Investment Advisers
    Jan 03, 2018
    Markets regulator Sebi today proposed new norms for Investment Advisers, under which they will have to segregate their advisory and product distribution businesses.However, mutual fund distributors while distributing the investment product can explain its features to the client.The new proposals would help prevent the conflict of interest between 'advising' and 'selling' of investment products by the same entity or person."There should be clear segregation between the two activities of the entity - providing investment advice and distribution of the investment products/ execution of investment transactions," Sebi said in a discussion paper.
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