BUSINESS
Sebi pitches for expulsion of AIFs with members from same family or business group
Any AIF having 50% or more contribution from a single investor or investors belonging to the same group should not be entitled to avail benefits designated for QIBs, states SEBI's consultancy paper.
BUSINESS
Sebi bats for participation of NBFCs, MFs, insurance firms in corporate bond market
There is no traction in the tri-party repo market despite the segment being in existence since 2018. A key reason for lack of traction on the tri-party repo platform is that exchanges and clearing corporations do not have a well-funded Settlement Guarantee Fund (SGF) to absorb the counterparty risk
BUSINESS
SEBI directs debt instrument issuers to secure LEI code
LEI is a unique 20-character code to identify legally distinct entities that engage in financial transactions. Presently, RBI directions, inter alia, mandate non-individual borrowers having aggregate exposure of above Rs 25 crore, to obtain LEI code.
BUSINESS
SEBI fines Angel Broking Rs 10 lakh over regulation violations
SEBI found that the funds raised by pledging client's securities were used for other than the respective clients' obligation by Angel Broking
BUSINESS
SEBI delivers final order in Karvy demat scam, cracks down on MD and directors
The Karvy demat scam, which first came to light in the second half of 2019, was orchestrated by the brokerage house by pledging securities lying in the demat account of unsuspecting customers.
BUSINESS
SEBI's new circular on bank guarantees will brew a host of funding troubles for small brokers
Small brokers are in for a tough time as they will have to grapple not only with working capital issues but will also have to funnel in their own funds, in case they were using clients' funds for prop or arbitrage trading
BUSINESS
How a former hotel staff and two automobile diploma holders ran a massive Telegram pump-and-dump scheme
In the Telegram channel, the trio represented themselves as 4 Research analysts with a combined experience of 40 years, who are in the "process of getting SEBI Research Analyst Registration".
BUSINESS
How Rajesh Mokashi’s interference led to DHFL pratfalls for CARE Ratings?
When team members differed from Mokashi's view on DHFL's AAA rating, even in the face of shoddy business fundamentals, Mokashi asked them to keep an 'open mind'
BUSINESS
Sebi bans pledging of clients' funds by brokers as bank guarantees
Existing BGs created out of clients’ funds shall be wound down by September 30 this year.
BUSINESS
Performative obeisance, collective exercise in futility: SEBI on CARE Ratings' independence under former MD
SEBI cracked down harshly on the interference unleashed by former MD and CEO Mokashi vis-a-vis DHFL credit rating. Mokashi has been accused of interfering in the rating process. Eight whistle-blowers' complaints were received by SEBI alleging CARE Ratings was granting AAA ratings to higher fee-paying clients.
BUSINESS
Inflows into debt funds unhurt, financialisation of savings to chart a steady course: Fisdom CEO
As investor awareness grows, capital markets will continue to attract capital in all forms. Financialisation of savings is a trend that will likely continue over the next 20-30 years, says Subramanya SV
BUSINESS
ZEE insider trading: Punit Goenka pays Rs 50 lakh to settle case
During the investigation, it was found that Goenka failed to put in place adequate internal controls within the company to identify unpublished price sensitive information.
BUSINESS
Brightcom Group faces Sebi whip for accounting irregularities, disclosure omissions
Once a darling of millions of retail investors, Brightcom saw its share price zoom up from barely Rs 4 in April 2021 to a high of Rs 118 in December 2021. On April 13, the scrip ended at Rs 15.45.
BUSINESS
Formula for front-running operations : Private mobile, isolated work space, mule accounts, reveal Sebi orders
A study of the two cases reveals a common sequence of events, circumstances and participants that helped the front-running misadventures.
BUSINESS
SEBI streamlines price band discovery for stocks making their debut
Call auction sessions would continue to be conducted separately on individual exchanges and orders would be matched by respective exchanges after the computation of the equilibrium price
BUSINESS
SEBI tells AIFs to offer direct plans, opens route for investment without distribution fee
The market regulator has also told Alternative Investment Funds to disclose the distribution fee or placement fee, if any, to the investors at the time of onboarding
BUSINESS
NSE co-location case: SAT sets aside SEBI’s disgorgement order against exchange
NSE co-location case: In its order delivered on April 30, 2019, SEBI had directed NSE to disgorge Rs 624.89 crore at 12 percent interest per annum from April 2014 onwards. Disgorgement refers to the repayment of gains that have been made illegally.
MARKETS
Rise of the machines: HFTs tighten grip, make a killing on the Street as F&O volumes explode
High frequency trading firms globally have been at the centre of fierce debates, with critics drawing attention to the systemic risks they pose. However, HFTs argue they improve market efficiency by providing liquidity.
