BUSINESS
Sebi grants relief to exchanges for Product Advisory Committee meetings on agri contracts
One commodity exchange had submitted a proposal to Sebi, seeking to reduce the number of mandatory PAC meetings to one per year for agricultural commodities.
BUSINESS
Three individuals settle case with SEBI in Brightcom Group Limited case
SEBI had received complaints against the BGL and during investigation found that there were misstatements and irregularities in the Financial Statements of BGL. SEBI had passed final order against the company, promoters and others in February this year. In the order penalties and debarment of 1-5 years was also imposed.
BUSINESS
Sebi unveils UPI safeguard 'Valid' to prevent fraud in market transactions
Through Sebi’s payment mechanism ‘@Valid’, all market intermediaries will be able to use it to collect funds from clients, benefitting brokers, mutual funds, research analysts, investment advisers, and others.
BUSINESS
Consultation paper soon to review sub-broker norms; higher net worth, educational criteria may be proposed
Exchanges are likely to propose strict norms for sub-brokers. Exchanges, in consultation with SEBI, are likely to come up with consultation paper soon
BUSINESS
Research analysts cannot provide research for products that they distribute due to potential conflict of interest: SEBI
SEBI has issued FAQs post amendment in research analyst regulations. The intent is to clarify various aspects of the regulation so that market intermarries are clear and do not violate the regulations. SEBI had last issued such FAQ. SEBI has sought public comments by June 30.
BUSINESS
Market participants raise concerns over BSE's liquidity-based fee structure; exchange says compliant with SEBI norms
Some participants have raised concerns about BSEs fee structure based on liquidity of the stocks, calling it discriminatory against X, XT category of stocks and adding high cost of transactions for investors of such category of shares. BSE denied the allegations and said this practice is there since 2016, to discourage investors from investing in such low liquid stocks.
BUSINESS
State-owned Andew Yule & Company re-attempts OFS for Veedol
Andrew Yule & Company had informed that due to ‘some technical glitches’ the notice of offer for sale of shares of Veedol Corporation had to be withdrawn on 23 May.
BUSINESS
SEBI allows clearing corps to adjust core SGF from currency to equity derivatives
The SEBI approval of one-time transfer of excess core SGF from currency segment to the equity derivatives segment was helpful for clearing corporations. Otherwise, they had to contribute it additionally
BUSINESS
Sebi considering easier onboarding in push to add more accredited investors
Sebi is considering ways to increase the number of accredited investors in India, with measures that may include easier registration and more investment opportunities. As more and more accredited investors join the system, Sebi may be comfortable in allowing new products with lighter touch regulations.
BUSINESS
Sebi considering scheme to settle old violations by Venture Capital Funds
The intent of Sebi is to resolve the legacy violations under erstwhile VCF regulations, and the scheme may be with lucrative terms, so as to settle the cases rather than litigate. The scheme will be notified after its placed before the board on June 18, it is learnt.
BUSINESS
State-run Andrew Yule cited ‘glitch’, but it likely found after announcing Veedol OFS that its demat account was suspended
State-run Andrew Yule & Company's OFS for Veedol Corporation's shares was withdrawn citing a technical glitch, however, it has emerged that the demat account of the seller was in fact suspended due to some reason.
BUSINESS
Sebi, stock exchanges discussing revamp of rules for market makers of SME IPOs
Sources said Sebi, stock exchanges, and other market participants are deliberating on whether there should be a networth criteria for market makers on the SME platforms, which is currently not there.
BUSINESS
Leading stock exchanges NSE and BSE in a ‘rack race’ to ramp up co-location capacities as demand soars
NSE has a co-location capacity of around 1,300 full racks, and the exchange intends to add 300 additional racks by the end of June. Over the next two years, NSE plans to add 2,000 more racks in a phased manner.
BUSINESS
Rs 35,000 crore structured products at risk if SEBI says ‘No’
Structured product issuers have sought relief from the regulator ahead of new position limit rules for F&O. Their argument is such products are used for genuine hedging purposes and have a wide market base. Structured product issuers also met with SEBI and exchange officials to express their concern. They are hopeful that SEBI and exchanges will find a way out, so that abrupt unwinding can be avoided.
BUSINESS
MC Exclusive: Block deals may get a makeover — SEBI mulls wider price bands, new windows
A working group has been tasked to examine key aspects and gather feedback from mutual funds, brokers, investment bankers, and other market participants.
BUSINESS
NSE IPO: SEBI, Exchange in advanced talks to settle co-location case ahead of long-pending IPO
The settlement amount demanded by Sebi could be double of what the exchange paid for the TAP case
BUSINESS
Amid Insider Trading allegations, IndusInd Bank seeks asset details of senior officials, say sources
BUSINESS
NSEL case: Sebi settlement scheme likely soon for commodity brokers
Sebi may consider to take this specific settlement scheme to the board meeting, scheduled in June, for approval
BUSINESS
Sebi’s high-level committee for framing code on conflict of interest meets for the first time
The committee sought views from legal experts, market infrastructure institutions, independent experts and other stakeholders on May 16.
BUSINESS
Brokers get clarity on investments in group businesses as Centre amends securities contract rules
The Finance ministry in a press release said the amendment is expected to provide regulatory clarity to enhance ease of doing business for brokers.
BUSINESS
Can merchant bankers be allowed to control SME IPO funds? SEBI's recent orders expose risk in the system
In tightening the SME IPO-related rules, exchanges and SEBI find themselves in tight spot as they have to keep in mind that steps taken do not lead to obstacles for genuine fund raising
BUSINESS
Gensol Engineering’s CFO Jabirmahendi Aga steps down, cites regulatory investigations
Gensol confirmed Aga’s resignation in a regulatory filing to the BSE and NSE on May 17.
BUSINESS
More time to ODI subscribers for granular disclosure
ODIs in common parlance are also called participatory notes or P-Notes
BUSINESS
Exam for accredited investors? SEBI working group suggests experience and knowledge test in addition to net worth
According to industry sources, the working group emphasised experience and skill set, and suggested a qualitative assessment in the form of an accredited investor examination.
