Sebi
Sebi forms 4-member high powered advisory committee on settlement orders
. The committee will be chaired by Vijay C Daga, retired judge of High Court of Bombay. The other members of the panel are - former law secretary in Ministry of Law & Justice, PK Malhotra; ex-Chairman of Deloitte Haskins & Sells LLP PR Ramesh and DN Raval, Partner at Raval & Raval Associates.
Sebi rejects Brickwork's settlement application
The Securities and Exchange Board of India (Sebi) has rejected the settlement application of Brickwork Ratings India for allegedly violating the credit rating agency (CRA) regulations, said two people familiar with the development.
Sebi eases eligibility criteria related to superior voting rights shares
The regulator said while determining the individual net worth of the SR shareholder, his investment/ shareholding in other listed companies shall be considered, but not that of his shareholding in the issuer company.
Sebi turns to big data to nail the smart violators
The alert for Sebi to look into a suspected front running or insider trading violation remains abnormal fluctuations in a stock's price and volume activity. Once it detects transactions are related, the regulator moves in to use its other methods to make a stronger case.
Sebi approves framework for creating Social Stock Exchange
The proposal for the creation of a Social Stock Exchange was put forth by Finance Minister Nirmala Sitharaman in her Budget speech in July 2019.
Sebi confirms directions passed against 12 promoters of DHFL
Markets regulator Sebi on Friday confirmed the directions passed against twelve promoters of DHFL which barred them from accessing securities market. A detailed investigation in the matter is pending.
Sebi warns financial advisers against dealing in e-gold
Sebi has warned investment advisers from helping clients invest in digital gold instruments since these are not regulated by it. In early August this year, the stock exchanges had warned brokers not to deal in digital gold.
Sebi penalises 2 persons for violating insider trading norms in Mindtree case
Sebi noted that Lingamaneni and Yerramalla had transacted in the scrip of the company on multiple occasions, including during the investigation period (January-March 2019).
Sebi proposes to revise settlement rules
At present, entities are provided a window of 180 days in total to apply for settlement after receipt of the notice to show cause.
Sebi official asks investors not to be carried away by unrealistic gains stories
"A rule of thumb for having exposure in the equity market is to subtract one's age from 100 and invest that percentage amount in the equity market and balance in diversified asset classes," Sebi Whole Time Member G Mahalingam said.
Sebi defers pension proposal, board nominee says government's call
The Securities and Exchange Board of India (Sebi) has deferred a proposal to give pension benefits to its employees after one of the government nominees to the regulator's board said only North Block was empowered to take a decision on the subject.
Sebi lens on fintech brokers for alleged violations of PEP norms
Several fintech stockbrokers are under investigation by the Securities and Exchange Board of India (Sebi) for allegedly not adhering to the reporting norms related to politically exposed persons (PEPs). These brokers did not flag the PEP accounts to the market intermediaries and, in some cases, didn't obtain the due diligence documentation required as per securities laws, said people with direct knowledge of the matter.
Custodians ask Sebi to postpone T+1 till April next year
Custodian banks, both local and overseas, have reached out to the Security and Exchange Board of India (Sebi) seeking a delay in implementing new rules until April next year in one last ditch effort to resolve the trade plus one day, or T+1, transition issue.
Sebi eases superior voting rights norms to aid startup listing
The current framework allows issuance of superior voting rights shares to promoters or founders holding an executive position in the company desirous of listing on the Main Board.
SEBI board revises delisting norms to streamline M&As
Under the current regulations, a company that is acquiring 49 per cent stake in a listed entity and sees its total stake rise over the 75 per cent mark post an open offer has to forcefully reduce its stake below the minimum public shareholding mark.
Sebi extends relaxations for compliance with rights issues
As per Issue of Capital and Disclosure Requirements norms, an application for a rights issue shall be made only through the ASBA facility.
Clearing companies to ask Sebi to defer T+1 settlement
The clearing corporations of stock exchanges could approach the Securities and Exchange Board of India (Sebi) seeking an extension in the implementation of the T+1 settlement cycle by a few months from the existing launch date of January 1, said two people with direct knowledge of the matter.
Sebi levies Rs 50 lakh fine on 5 entities, also bans them from securities market
Sebi in its investigation noted that they are repeatedly executing synchronised trades and created a misleading appearance of trading in the scrip without any intention of change in ownership of the security.
FPI’s letter to Sebi on T+1 settlement
Foreign Portfolio Investors(FPIs) are stepping up opposition against market regulator the Securities and Exchange Board of India’s(Sebi’s) plan to introduce a shorter settlement cycle. Three FPI lobby groups -- the Asian Securities Industry and Financial Markets Association (ASIFMA), Traders Forum Asia and the UK-based Investment Association – have sent a joint letter to Sebi chairman Ajay Tyagi alleging that they were not consulted on the new rules.
Sebi in talks to redefine promoter norms
The Securities and Exchange Board of India (Sebi) is in talks with other regulators on the transition from the traditional concept of 'promoters' to that of 'controlling shareholders' so that corporate control is accurately reflected.
Sebi levies Rs 20 lakh fine on individual for insider trading in Videocon
"Trading by any insider during UPSI period and during window closure period is itself against the legislative/regulatory framework set-up under SEBI PIT Regulations, 2015," Sebi said.
Sebi bars Poonawalla Fincorp MD, 7 others from dealing in securities
The regulator has impounded the bank accounts of these individuals to the extent of Rs 13.58 crores.
SEBI probe finds Poonawalla Fincorp MD, others guilty of insider trading
SEBI’s investigation found that Bhutada had shared information about Adar Poonawalla’s proposed takeover of Magma Fincorp in his capacity as MD and CEO of Poonawalla Finance.
Sebi tweaks trading norms for mutual funds on RFQ platform
Inter Scheme Transfer trades are excluded from the revised framework, Sebi said in a circular. The new norms will come into effect from December 1, 2021.
Sebi disposes of proceedings against Kotak Mahindra Bank
Two separate orders were issued by the Securities and Exchange Board of India (Sebi) on Friday in this regard.
Sebi notifies certification requirements for distributors, staff of portfolio management services
The associated persons, engaged by a portfolio manager as a distributor of the PMS, and associated persons functioning as principal officers of a portfolio manager or an employee having decision-making authority related to fund management, will have to obtain certification from the NISM by passing the certification examination.
Sebi extends deadline for investment advisers to conduct annual compliance audit
For the financial year ending March 31, 2021, the investment advisers (IA) are now required to conduct the annual compliance audit by December 31, 2021, and submit the adverse findings of the audit, if any, by January 31, 2022.
Sebi's new idea of social stock exchange throws up 3 opportunities for investors
SSE is likely to be a separate segment on existing stock exchanges. SEs eligible to participate in SSE, will be entities having social intent and social impact as their primary goals.
Sebi board clears frameworks for gold, social stock exchanges
Markets regulator Sebi's board on Tuesday approved a slew of reforms, including frameworks for gold and social stock exchanges. Besides, the regulator has decided to relax eligibility requirements related to shares having superior voting rights, Sebi Chairman Ajay Tyagi said in a press conference after the board meeting.Sebi board clears frameworks for gold, social stock exchanges
Sebi has proposed T+1 settlement cycle from January 1
Sebi has proposed a ‘Trade-plus-one’ (T+1) settlement cycle from January 1, where the trades will get settled the day after the transaction. Initially, exchanges can pick the stocks where they want to offer the next-day settlement.
FPI bodies ask Sebi to postpone shift to T+1
Sebi wants to shift to T+1, with settlement of trade on the next day, from T+2 now. It has said that exchanges have the option to switch to this system from January 1 next year for select stocks. Investors who buy shares from the Indian equity market currently get delivery two days from the date of trade.
Sebi board okays steps to make M&As easier
The regulator said that if an acquirer wants to delist the target company, then it must propose a higher price for this with a suitable premium over the open offer price. If the response to the open offer leads to the delisting threshold of 90% being met, all shareholders who tender their shares should be paid the same delisting price.
Sebi levies fine on Titan's employee for disclosure lapses
The regulator had received a letter from Titan wherein the company intimated about violation of Prevention of Insider Trading (PIT) regulations and the company's code of conduct for the prevention of insider trading by some of its designated persons/employees.
Sebi approves Paytm IPO, 6 others
The Securities and Exchange Board of India (Sebi) last week approved seven initial public offerings (IPO), including that of Paytm, which plans to raise a minimum of Rs 16,600 crore in the biggest ever scheduled share sales in India.
No ‘in-house’ trustees for PE, VCs, moots Sebi
The Indian capital market regulator wants private equity and venture capital funds, which have emerged as significant institutional investors in recent years, to have independent trustees having no connection with the sponsor and manager of the funds.
Sebi confirms ban on 5 persons in Zee insider trading case
The regulator said a detailed investigation in the matter is in progress which may bring out additional roles of omission or commission, of these five persons, if any, in detail.
Sebi board to discuss M&A norms, gold exchanges
The board of the Securities and Exchange Board of India (Sebi) is set to approve several investor-friendly measures when it meets on September 28.
Zostel asks Sebi to reject and suspend Oyo's $1.2-billion IPO
In its letter to Sebi, Zostel said Oyo's IPO is "non-maintainable as Oravel's capital structure is not final."
SEBI introduces swing pricing in debt mutual funds
Swing pricing is a mechanism by which fund houses can adjust a scheme’s net asset value (NAV) in response to the flows into or out of the fund. It is aimed at reducing the impact of large redemptions on existing investors by reducing dilution of the value of a fund’s units.
Sebi may cap ISINs for corporate bonds
The Securities and Exchange Board of India (Sebi) on Friday proposed to cap International Securities Identification Numbers (ISINs) for corporate bonds, in a bid to boost liquidity in the debt market.
Sebi tweaks norms for REITs, InvITs on exit option for dissenting unit holders
The exit option for dissenting unit holders would be available in case of an acquisition, change in sponsor, inducted sponsor or change in control of sponsor or inducted sponsor is triggered pursuant to an open offer.
Sebi revises financial info filing formats for entities having listed non-convertible securities
In September, the regulator had notified corporate governance rules for listed entities which have listed their debt securities.
Sebi to auction properties of Royal Twinkle, Citrus Check Inns on Sep 25
In a notice on Monday, the Securities and Exchange Board of India (Sebi) said it will auction as many as 97 properties of the companies on September 25 at a reserve price of more than Rs 350 crore.
Sebi slaps Rs 1.02 cr fine on Aditya Birla Money for mkt norms violation
Proceedings were initiated against Aditya Birla Money based on a joint inspection conducted by Sebi, BSE, NSE and the depositories in March 2019. A special purpose inspection was also conducted by Sebi in March 2018.
Sebi sends show-cause notices to 141 staff of Titan alleging violations
The Securities and Exchange Board of India (Sebi) has issued show-cause notices to 141 employees of Titan, India's largest watch and jewellery retailer, alleging violation of insider trading rules, said a person with knowledge of the matter.
Sebi temporarily forbids NCDEX from launching new mustard seed contracts
The market regulator’s move is a step towards curbing rising prices of mustard oil that has been pinching the pockets of Indian households for quite some time now.
Another Infosys employee banned by Sebi over insider trading
The capital market regulator’s investigation found that Ramit Chaudhri had access to the unpublished price-sensitive information regarding the Vanguard deal.
Sebi bars Abhijit Pawar over insider trading allegations
India's capital-markets regulator has barred Abhijit Pawar, nephew of Nationalist Congress Party chief Sharad Pawar, from dealing in securities for an alleged breach of insider-trading rules involving the stock of the erstwhile Magma Fincorp.
Sebi asks PE, VCs for info on special pacts
The capital market regulator wants to know all deals that private equity (PE) and venture capital (VC) funds have separately cut in the past two years with larger investors picked from inside and outside the fund pool.
Sebi fines 8 entities for fraudulent trade in Videocon shares
These are facing a fine of Rs 16 lakh, payable jointly and severally, for violation of Prohibition of Fraudulent and Unfair Trade Practices norms.
Sebi takes stock of surge in options trades
Worried about the increased shift in trading activity from cash market to options, the Securities and Exchange Board of India (Sebi) has asked bourses and brokers to boost investor awareness, especially among the new entrants, about the risks of such
Sebi okays blockchain technology for NCDs
To make the record-keeping process related to securities traded in the market more secure, Sebi on Wednesday asked depositories to use distributed ledger technology — popularly called blockchain technology — to record and monitor credit ratings of non-convertible debentures (NCDs)
Sebi unlikely to drop T+1 plan despite FPI pressure
Sebi issued a circular on Tuesday allowing stock exchanges to offer select scrips under shortened T+1 settlement from January 1 next year.
PolicyBazaar's parent firm gets Sebi nod for Rs 6,017 crore IPO
The company had filed its draft red herring prospectus (DRHP) with Sebi on August 2, seeking to raise Rs 6,017 crore ($809 million) through an IPO.
PNB Housing deal: Sebi moves SC
Sebi is pushing the housing finance firm to relook at a deal to sell a Rs 4,000-crore stake to private equity investors led by Carlyle on the grounds that valuation norms have not been followed.
Sebi puts in place guiding principles for bringing uniformity in mutual fund benchmarks
Sebi on Wednesday came out with a two-tiered structure for benchmarking certain categories of schemes. All the benchmarks followed should necessarily be Total Return Indices, it added.
Sebi paves way for launch of gold exchange, approves framework
The board approved the Gold Exchange and SEBI Vault Managers Regulations, 2021 that allow bourses to set up a gold exchange in India.
It’s Sebi vs FPIs, brokers on T+1
Under the current system of T+2 settlement, a buyer gets the shares that he bought in his demat account on the third working day, including the day of trade. Similarly, the seller receives the money for shares sold on the third working day. Under the proposed T+1 settlement cycle, the shares and money will come to the investor’s account the next working day.
Sebi to beef up surveillance on the smart insider
The Securities and Exchange Board of India (Sebi) is revamping its surveillance systems as insider trading gets more sophisticated. Earlier, company insiders or their proxies would buy and sell shares based on insider tips.
Sebi proposes new norms for mutual funds’ ESG investments
With increased interest and focus on investments in the ESG space globally, Asset Management Companies (AMCs) in India have also been launching equity schemes in the ESG space under the thematic category.
Sebi empanels 16 entities to conduct forensic audit
In recent months, Sebi has ordered a forensic audit of certain companies.
Sebi drops certain disclosure requirements for promoters upon share acquisition
The amendment will be effective from April 1, 2022, the regulator said in a notification, dated August 13.
Videocon case: Sebi slaps Rs 75 lakh fine on Venugopal Dhoot, two entities
"Noticees being insiders had executed off market transactions while in possession of Unpublished Price Sensitive Information (UPSI)," Sebi said.
Sebi comes out with modalities for accredited investors
Sebi had earlier this month introduced the concept of "accredited investors" in the Indian securities market.
AIFs: Sebi comes out with modalities for filing placement memorandum
AIFs are funds established or incorporated in India to pool capital from Indian and foreign investors for investing as per a pre-decided policy.
Sebi asks investment advisers to refrain from dealing in digital gold
"Undertaking such unregulated activity including dealing (i.e., advisory, distribution and execution/ implementation services) in digital gold by investment Advisers is not in accordance with the provisions...of the Sebi Act, 1992 read with the Sebi (Investment Advisers) Regulations, 2013," the regulator said in a statement.
Coffee Day Ent settles case with Sebi, pays Rs 69 lakh
On January 21, 2021, Sebi issued a show-cause notice to the company alleging various disclosure-related violations.
Use blockchain to monitor security creation: Sebi to depositories
It offers better protection against different types of cyber-attacks because of its distributed nature, which removes the single point of attack, Sebi said in a statement.
Sebi gives bourses option to rollout T+1 settlement for stocks
The new rule will come into effect from January 1, 2022, the capital market regulator said in a circular issued today.
IL&FS moves SC against show-cause notice by Sebi
The case has been admitted by the apex court and a two-member bench comprising Justices Vineet Saran and Dinesh Maheshwari will be hearing it. The matter has been tagged along with another appeal by IL&FS Securities Services where the contention is the same – Sebi has passed orders against entities under the IBC.
Sebi board gives in-principle nod for shifting to concept of “controlling shareholders”
Earlier this year, the regulator had issued a consultation paper for public discussion on the issue of doing away with the concept of family owners in the face of new-age companies that are not backed by business families.
Sebi probed 94 new cases for flouting securities law in FY21
Sebi said 43.6 per cent of the total cases taken up for investigation during 2020-21 were related to market manipulation and price rigging.
Sebi drops adjudication proceedings against RIL in alleged incorrect financial disclosures matter
Sebi decided not to impose any penalty for the alleged violations mainly on two grounds, including that the amendment to the relevant law that made incorrect disclosure of information by a listed company punishable came into force prospectively from March 2019.
Sebi asks investors to link PAN with Aadhaar by Sept end for smooth transactions
Failing to comply with this, a person's Permanent Account Number (PAN) card will become inoperative, which means incomplete Know Your Customer (KYC) details.
Sebi mulls carving out separate AIF category to buy distressed loans from banks
Pointing out the growing number of AIFs, Sebi Chairperson Ajay Tyagi said on Thursday that the last financial year saw 90 new AIFs getting registered with the regulator under different categories, taking the total number to more than 700.
Sebi introduces accredited investors concept in Indian securities market
Individuals, HUFs, family trusts, sole proprietorships, partnership firms, trusts and body corporates can get accreditation based on financial parameters specified by the regulator, according to a notification dated August 3.
Sebi's refund to Sahara investors inches up to Rs 129 crore
In its previous update, Sebi had put the total amount refunded by it as of March 31, 2020 at Rs 115.2 crore (concerning 15,140 applications). The number of disputed cases at that time was much higher at 229, while the count of closed cases was lower at 1,688.
Sebi to spend big on AI, ML to boost surveillance, investigation capability
“In the forthcoming years, Sebi will be implementing major information technology (IT) projects, which are critical to its day-to-day operations and its mandate,” the capital market regulator said in its annual report for 2020-21.
FPIs, brokers, global banks ask FinMin for T+1 working group
In a last-ditch attempt, a team of leading foreign portfolio investors (FPIs), top brokers and MNC banks on Tuesday impressed upon revenue secretary Tarun Bajaj, an old finance ministry hand and former PMO official, the need to form a 'working group' to discuss afresh the contentious decision taken by the Securities & Exchange Board of India (Sebi) to shorten the stock market settlement cycle by a day.
Zerodha gets Sebi’s in-principle approval for starting AMC operations
"So, we just got our in-principle approval for our AMC (MF) license. I guess now comes the hard part," Kamath said in a tweet on the microblogging website Twitter.
Penna Cement gets SEBI nod for Rs 1,550 crore IPO
The IPO includes a fresh issue of Rs 1,300 crore and an offer for sale of up to Rs 250 crore by its promoter PR Cement Holdings. Currently, P R Cement Holdings holds a 33.41% stake in the company.
Zostel plans to take Oyo IPO complaint to Sebi
Zostel is planning to move the Securities and Exchange Board of India (Sebi), asking it to put the proposed $1.2 billion IPO on hold, said two people with direct knowledge of the matter.
Sebi extends deadline for investment advisers to obtain BASL membership
"Existing IAs who fail to seek membership of BASL within the aforesaid timeline shall be liable for appropriate action including suspension or cancellation of certificate of registration of such IAs," Sebi said.
T+1 trade settlement may prompt outflow of some foreign funds from India
The plan, once implemented could push foreign investors, who account for about a fifth of the India’s market capitalization, to not only upgrade their custodial arrangements but also spend more on foreign exchange charges and other costs.
Explained: What will new Sebi margin rules mean for intraday traders
In 2020, Sebi introduced the new margin rules for day traders under which stock brokers were now mandated to collect minimum margins on leverage-based trade upfront as against the earlier practice of collecting it at the end of the day.
Sebi slaps Rs 6 lakh fine on Capital First for disclosure lapses
In its order, Sebi found that Capital First did not make requisite disclosures about the encumbrances on shares of DCHL held by them to the stock exchanges and DCHL.
Sebi eases operational procedure to make fee payments
The intermediaries can also generate an e-challan, which can be shared with the companies or entities for making the required payment.
Sebi gives more time to brokers, clearing members to comply with certain rules
The watchdog has also given time till December 31 to brokers for operating the trading terminals from designated alternate locations.
Sebi forms 4-member high powered advisory committee on settlement orders
"On most occasions, the applicants apply for settlement towards the end of this timeframe. Such delays not only do not serve the purpose of the enforcement process but also impede the expeditious disposal of the enforcement proceedings,” Sebi had said in its discussion paper.
Yes Bank, 6 others settle case with Sebi for Rs 1.65 crore
Yes Bank and six individuals have settled a case with the Securities and Exchange Board of India(Sebi) by paying ₹1.65 crore as settlement amount.
Zerodha gets Sebi's approval to set up an AMC
The in-principle approval from Sebi will allow the Bengaluru-based startup to launch its own mutual funds, founder and chief executive Nithin Kamath tweeted on Wednesday. Zerodha is India’s largest retail broker by registered users.
Sebi asks investors to link PAN with Aadhaar by Sept 30
The development comes after the tax department asked all the PAN holders to link it with Aadhaar by September 30, 2021, failure to do so would lead to deactivation of the PAN.
Sebi penalises six individuals for violating insider trading rules in Titan case
In six separate orders, Sebi said these individuals were employees or designated persons of Titan at the time of the violation.
T+1 settlements, tighter margins will make markets safer: Ajay Tyagi
Earlier this month, Sebi had proposed to introduce a ‘Trade-plus-one’ (T+1) settlement cycle from January 1, where the trades will get settled the day after the transaction. Initially, exchanges can pick the stocks where they want to offer the next-day settlement.
Oyo IPO: Zostel writes to Sebi, seeks rejection of draft offer papers
In a letter to the Securities and Exchange Board of India (Sebi), Zostel said "the IPO is non-maintainable as Oravel's capital structure is not final" and accordingly "Oravel's filing of the DRHP (Draft Red Herring Prospectus) in the circumstances, is illegal..."
Paytm gets Sebi approval to launch India’s biggest IPO
Paytm can now launch its Rs 16,600-crore IPO after incorporating observations that the capital markets regulator may have made in its draft red herring prospectus (DRHP). A listing is likely by early November.
Vijay Kirloskar writes to Sebi on ‘misleading’ claims by nephews
The Kirloskar family feud has worsened further with Bengaluru-based Vijay Kirloskar, chairman of Kirloskar Electric Company (KECL), filing a complaint with Sebi seeking action against four companies run by his nephews — Rahul and Atul Kirloskar — for alleged
Sebi amends rules to empower independent directors
Under the new rules, appointment, re-appointment and removal of independent directors in a listed company will be done through a special resolution of shareholders. In the special resolution, the number of votes in favour of the resolution should be at least three times those against the resolution.
Sebi releases revised risk management framework for MFs
Sebi has come out with roles and responsibilities of board of AMC and trustees, chief executive officer (CEO), chief risk officer (CRO), chief investment officer (CIO), role of other CXOs and fund manager.
Indiabulls Ventures CEO, 4 others pay Rs 5 cr to settle insider trading case
According to a Sebi order passed on Wednesday, the entities had filed separate settlement applications in terms of the SEBI (Settlement Proceedings) Regulations, 2018 proposing to settle the pending enforcement proceedings without admitting to or denying the findings of fact and conclusions of law through a settlement order.