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Follow this space for all updates on SEBI board meeting decisions.
The live blog session has concluded. For more news, views and updates, stay tuned withMoneycontrol.com.
Here's a lowdown on key far-reaching reforms passed by SEBI in today board meet:
-ASBA-like facility for secondary markets will now be optional for brokers and investors
- Current practice of having permanent board members for listed companies eliminated; new rules from April '24
-Top 100 listed firms must clarify market rumours from October 1, 2023
- Allowed PE funds as sponsors of MF schemes, permits self-sponsored AMCs
-Nod to mutual funds to launch multiple ESG-based schemes
-Nod to comprehensive overhaul of operational dynamics of AIFs
-Evaluating Total Expense Ratio (TER) process, to release detailed guidelines
-Approved backstop fund for Indian corporate debt market; to set up fund worth Rs 33,000 crore
-SEBI chief Madhabi Puri Buch denied to comment on Adani-Hindenburg row, said will respect and follow order of SC
SEBI chief Madhabi Puri Buch announced that the regulator is currently assessing the process of Total Expense Ratio (TER) and plans to release comprehensive guidelines on the matter.
Speaking to reporters after a SEBI board meeting, Buch emphasized the importance of transparency in TER and stated that it must encompass all expenses.
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SAT success data 2021-22 is 81 percent, confirms Buch
Another huge success in terms of interregulatory cooporeration, the RBI has approved the limited purpose clearing corporation in terms of repo. Three out of four approvals have come in... huge support from RBI... once that comes through, the corporate bond repo market will also get a fillip.
In order to develop the bond market, you need liquidity, for liquidity you need market making, for market making you need a repo market... without a repo market, you can't have market making because the cost of borrowing is just too high.
Our Parliament has given us certain set of rules. We are not a Brahmastra kind of regulator: SEBI chief
There are certain nuances in law, which have required us to act in a certain way, we need to fix that, we are on our way
We are told that we are an overactive regulator
It is not possible to develop that capability overnight.
We are conscious that this is a skill set that will be required... we must develop that capability, initially with partners etc.
SEBI Chairperson Madhabi Puri Buch denied to comment on the market regulator approaching Supreme Court over Arshad Warsi SAT order
Traders should know that you will lose money trading along with charges like STT, brokerage, squaring off etc: Buch
Traders should be warned that you are playing the odds that are worse than Las Vegas
We are going to mandate that brokers display the risk-factor in trading
We will mandate brokers to clearly express these risks to investors and traders and these are our next year KRA's
--Believe economies of scale is not at scheme level but it's at asset level
--Brokerage paid by MFs to be kept insideTER
--Do not appreciate double charging unit holders
--There's a distinct possibility brokerage paid by mc for reasons other than professional reasons
--75% SEBI matters in the Supreme Court are linked matters
If you are a foreign index provider who incidentally has an Indian security in your index, then you don't come under our purview... if you are doing India-based index, which are being used by Indian mutual funds for Indian investors, then it will come under our purview: Madhabi Puri Buch
Sebi will bar domestic mutual funds from using foreign index that don't comply with our regulations: Buch