CNBC-TV18 learns that the market regulator has lined up meetings over the weekend to look into suspicious trading, and other abuses of P-note norms. The changes in regulations on P-notes will most likely be effective in 3 months time.
CNBC-TV18 learns that SEBI has lined up long meetings over the weekend to give the final contours to the P-note norms announced on Thursday.
The market regulator will look to form a committee to ensure a smooth transition. Under the norms, issuer of P-notes will have to reveal the credentials of the investor who is buying them.
The changes in regulations on P-notes will most likely be effective in 3 months time.
The meetings will focus in particular on suspicious trading.
The idea will be to make it more transparent and not increase the cost or reduce the value of the P-notes.
Essentially, SEBI will also be issuing a penalty wherever a party has been found to have violated the norms.
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