Among the six individuals, Vinod Kumar Bansal and Surender Singh are present directors of FSPL while Neena Bansal was its past director.
Those facing the penalties are Gladiator Vyapaar, Pratik Steelcasting, Jodhraj Finassist, Kamna Housing and Babubhai Ramanlal Patel, according to Sebi orders.
The regulator initiated adjudication proceedings against Religare and sent a notice in July 2018 alleging that the company failed to disclose the information with regard to trading in the scrip of Religare Enterprises by its chairman Sunil Godhwani to the exchanges within stipulated time and, hence, alleged to have violated the PIT (Prohibition of Insider Trading) norms.
The response may be a deterrent for exchanges located in the Gujarat International Financial Tec-City SEZ (GIFT City), which have been seeking the dual status of a domestic and foreign exchanges.
PACL also known as Pearl Group, which had raised money from the public in the name of agriculture and real estate businesses, was found by Sebi to have collected these funds through illegal collective investment schemes over 18 years.
Currently, mutual fund schemes are permitted to undertake transactions in equity derivatives but cannot write options or purchase instruments with embedded written options.
Besides, the watchdog has proposed rules for product design for future on the indices as part of larger efforts to deepen the participation of institutions in the derivatives segment.
The future contracts are monthly compulsory deliverable contracts with lot size of 100 grams, 10 metric tons and 10 metric tons, respectively, the bourse said in a release.
Among others, the manager on behalf of the REIT or InvIT will announce the floor price or price band at least two working days prior to the opening of the bid in case of an initial public offer. Currently, it is five days.
The Securities and Exchange Board of India had conducted an investigation in the trading activities of the company between June 2009 and February 2010.
The regulator feels that holding two posts by members of the same family will lead to an overlapping of the board and management and conflict of interest
The regulator fears that access to such data could be blocked by another country in the event of a data war
Equity folios halved too from 10.6 lakh folios in October to 4.91 lakh folios in December. Equity funds include pure equity, ELSS and balanced funds.
It would be for trading member, self-clearing member, clearing member and professional clearing member.
In an interaction with Moneycontrol, Balasubramanianian spoke about the achievements of the exchange.
The BSE will shortly introduce 7 weekly expiry futures and options contracts expiring on Thursday of the week, excluding the monthly expiry, the bourse said in a release.
In a circular issued to all mutual funds and asset management companies, SEBI said an index used for equity ETFs or index funds should have at least 10 stocks as its constituents.
Till long term capital gains tax on equity investments was reintroduced in the Budget of 2018, many wealthy investors were laundering their undisclosed money, or evading taxes through the long term capital gains route.
How an investor’s equity shares got bequeathed after death to their heir so far depended on whether he/she left behind physical or dematerialised shares
The directive comes after the regulator observed that AI/Machine Learning (ML) systems are black boxes and their behaviour cannot be easily quantified.
From April 1, 2020 onwards disclosures would be made on a daily basis by 6 pm on T+1 day, where T refers to the trading day.
The watchdog has already enrolled nine entities -- KPMG, Grant Thornton, Ernst & Young Associates LLP, Deloitte Touche Tohmatsu India LLP, Chokshi & Chokshi LLP, G D Apte & Co CA, JLN US & Co, Pipara & Co LLP and T R Chadha & Co LLP -- in October.
The regulator has also exempted HFCs and systemically important NBFCs from disclosure of increase or decrease in shareholding due to encumbrance or release of encumbered shares
Currently, the regulation on custodian of securities provide safekeeping of securities, gold or gold related instruments, title deeds of real estate and services incidental.
SEBI wants the advisors to play a fiduciary role, where client interest is pre-eminent. It needs to keep this as the central percept around which it needs to further weave the regulation