MARKETS
SEBI bars 2 operators for illegally profiting in illiquid options, orders disgorgement of Rs 4.83 crore
As per the SEBI order, callers (employed by the operators) approached investors on the pretext of guaranteed profit through Algo trades or automated software trades.
BUSINESS
Market manipulation will not be tolerated, says SEBI Chairman Tuhin Kanta Pandey
SEBI chief emphasised that scams and market manipulation cannot be prevented by regulation alone, noting that such incidents have occurred despite stringent rules. However, he assured that wrongdoers will not be spared.
BUSINESS
SEBI proposes client code modification by market makers of ETFs without penalty
SEBI has proposed client code modification by the Market Makers to the Asset Management Company like associated ETF scheme, without levy of any penalty in order to enable market makers to transact in the basket for securities underlying the ETF against equivalent transaction in units of ETF and to transfer the net obligation of such transactions to the ETF for unit creation or redemption.
BUSINESS
No obstacle will remain in NSE IPO, says SEBI Chairman Tuhin Kanta Pandey
As per sources, SEBI and NSE are in talks to finalize the terms for settlement. Once the terms are agreed then the formal process will start.
BUSINESS
Shares acquired in FY25 but credited in FY26, which year will the acquisition be counted? SEBI clears the air
The share purchase trades were done in March but due to 3 days of trading holiday, the shares were credited in demat of the acquiring company in April which is the next financial year, hence a clarification was sought about provisions of SEBI's takeover code.
BUSINESS
Tuhin Kanta Pandey brings a light touch to SEBI compared to his predecessor
Tuhin Kanta Pandey, a bureaucrat who oversaw the LIC IPO and Air India’s privatisation, brings to Sebi not just administrative heft but also a distinctly new temperament.
BUSINESS
Sebi raids shell companies involved in Rs 300 ‘pump and dump’ scheme across Ahmedabad, Mumbai and Gurugram
Sources said these are one of the biggest raids in Sebi’s history in terms of monetary value.
BUSINESS
Sebi panel on clearing corporations to explore self-sufficiency, transaction charges
Sebi is of the view that clearing corporations need to be economically independent from parent exchanges. A key step towards that can be to understand their financial health, and the unbundling of transaction charges as a starting point.
BUSINESS
SEBI proposes additional measures for easier on boarding of accredited investors
SEBI had received representation from the AIF industry requesting for easier onboarding process, reducing turnaround time and cost of accreditation, increasing the validity of accreditation period.
BUSINESS
Explained: Sebi’s settlement scheme for brokers in algo trading case
At the request of the industry, Sebi has proposed a settlement scheme cleared by the board in March, and notified in June. Registered stock brokers who were associated with algo platforms and against whom proceedings had been initiated by Sebi can apply.
BUSINESS
SEBI board meet this week: Separate delisting norms for PSUs, greater flexibility for AIFs, easier QIP norms on agenda
Also, settlement schemes for NSEL brokers and VCF violations will be kept before the board. But the key issue of demerger of clearing corporations is unlikely to go for board nod this time.
BUSINESS
Alkem vs Allchem: Pharma players in a legal tussle over who owns the name
Pharma major Alkem Labs has filed a case against IPO-bound, Vadodara-based Allchem Lifesciences in the Delhi High Court, seeking damages and injunction on the use of the trademark. The matter will now be heard on July 9 with both parties directed to go through mediation.
BUSINESS
A dedicated portal for FPIs in works, SEBI in talks with exchanges and depositories
The portal will inform the FPIs what laws are applicable on them and how the compliance is to be done. Not only SEBI and RBI regulations, but FEMA, PMLA and other regulations are also applicable on FPIs. For PAN generation, Income Tax department is also involved.
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.
