IT RULES TWEAK
Startup founders upbeat on US visa tweak despite big hurdles in process
The US government's updated rule for international entrepreneurs has received varied responses. While some see it as a great opportunity for Indian startup founders, others remain skeptical about its effectiveness. The lack of long-term security and pathway to permanent residency are key concerns. Will this rule truly benefit aspiring entrepreneurs?
Swiggy’s pre-IPO Esop sale; GST & ride-hailing apps
Food delivery company Swiggy will buy back Esops worth $65 million, its fifth such exercise. This and more on today’s ETtech Top 5.
US tweaks immigration rules to attract more foreign startup founders
DHS updates the International Entrepreneur Rule: foreign entrepreneurs can stay up to five years if their start-ups meet job creation and funding benchmarks, and demonstrate public benefit. An initial 2½-year parole can extend with $264,147 investment or $105,659 in government awards. Up to three entrepreneurs per start-up are eligible. Spouses can work; children can't.
Canada to crack down on study permit loopholes: New rules to safeguard international students
Canada's fedral government plans to suspend study permit processing for post-secondary students if schools fail to monitor international student enrollment. Proposed regulations mandate colleges and universities to report student attendance and compliance, aiming to curb permit misuse for work and protect against scams. Additionally, students must apply for new permits when switching schools, outlined in the Canada Gazette.
Sebi tweaks norms for passive mutual fund schemes
Sebi has updated rules on investments by passively managed mutual fund schemes in sponsor group companies. The new norms restrict investments to 25% of net assets, except for equity ETFs and index funds.
This isn’t Hotel California! Sebi’s new delisting rules signals maturity of Indian equity market
This week not only did we overcome a 17 year wait to get into the World Cup final, but we also overcame a waiting period of 19 years to gain freedom from RBB mechanism for delisting of a company.
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From finfluencer crackdown to F&O stock entry, exit tweaks, top 10 decisions from Sebi board meeting
The Securities and Exchange Board of India (Sebi) has approved finfluencer norms, prohibiting regulated entities like brokers from dealing with them. Under the norms, the Sebi regulated entities and their agents are barred from having any association directly or indirectly with any other person who provides advice or recommendation in respect to securities
CCI to tweak fair trade norms soon
Under the green channel process, introduced in 2019, an M&A deal is deemed to have been approved upon filing the application with the regulator, subject to conditions, including meeting the prescribed value thresholds. The move was aimed at expediting the deal approval process and balancing regulatory facilitation with enforcement functions.
Sebi tweaks rules for Basic Service Demat Account. Check eligibility, charges
Sebi has introduced new rules for Basic Service Demat Accounts (BSDA). To be eligible, individuals must have only one demat account where they are the primary holder and only one BSDA across all depositories.
Jio Financial, Zomato can win Nifty ticket as Sebi tweaks F&O rules
Sebi has enhanced derivatives market criteria to ensure robust regulation and investor protection. Changes include higher thresholds and evaluation frameworks for stock entry and exit, promoting market vibrancy and stability. These upgrades may lead Jio Financial Services and Zomato to join Nifty50.
Sebi amends FPIs' registration rules
Sebi has tweaked the guidelines for registration of Foreign Portfolio Investors (FPIs) pertaining to non-resident Indians, overseas citizens of India and resident Indians as participant of such foreign investors.
Sebi plans tweaks to address derivative trading risks: Report
India's markets regulator, SEBI, is considering tweaks to derivative trading rules to address risks from the explosive growth in options trading. The rules aim to regulate retail trading and involve discussions with fund houses.
Want positive not violent and depressed citizens: NCERT chief on tweaks regarding Guj riots, Babri masjid in textbooks
The director of NCERT responded to accusations of saffronisation in curriculum and textbooks by explaining that references to the Gujarat riots and Babri Masjid demolition were revised. This decision was made because teaching about such events could potentially contribute to the creation of citizens prone to violence and depression. The NCERT is currently updating school textbooks in accordance with the National Education Policy (NEP) 2020.
From stuffed toys to sports cars, sales break gender rules
Gender norms are blurring in purchasing decisions, particularly in urban India, with more men and women adopting newer hats in their social and professional lives. Consumer goods companies are adapting their marketing strategies to address this change. Women are increasingly buying 'toys for boys', such as drones and remote-control cars, accounting for 25-30% of Hamleys' sales.
Shock election results, tax tweak may trigger equity correction on Dalal Street: Chris Wood, Jefferies
Christopher Wood of Jefferies warns of a potential market correction triggered by national elections and changes in capital gains tax. BJP's expected return to power in the upcoming elections may impact market stability.
London calling? Not anymore. Tax tweaks worry NRIs, new migrants
Many non-resident Indians (NRIs) and recent migrants to the UK face uncertainty due to proposed changes in tax regulations set to eliminate a 200-year-old feature of the British tax system. Expected to take effect in April 2025, the new tax order may increase their tax liabilities and affect the attractiveness of the UK as a destination for migration
Motilal Oswal tweaks exit load rule to discourage early redemption in smallcap, midcap funds
The exit load for midcap and smallcap funds is changed to 1% if redeemed on or before one year from the date of allotment.
Companies hail tweaked advisory easing AI model rollout
The revised advisory from the IT ministry does away with the provision that mandated intermediaries and platforms to get government permission before deploying “under-tested” or “unreliable” AI models and tools in the country.
EU moves to tweak rules on foreign central counterparties amid tussle between RBI and European regulators
ET has seen a document dated February 13 that showed the General Secretariat of the Council of the European Union has sent two proposals to the Permanent Representatives Committee of the council concerning treatment of central counterparties. This has been a bone of contention between the RBI and the EU authorities since October 2022.
MeitY tweaks IT rules, surveillance data to be deleted within six months
Until now, the power to delete was with the security agency which had requested the surveillance either from the home ministry or a competent court.
NCLT reserves order on Byju’s rights issue; Meity tweaks IT rules
Byju’s and a group of its investors have been given three days by the National Company Law Tribunal to file written submissions on a plea about the edtech firm’s rights issue. This and more in today’s ETtech Morning Dispatch.
Govt carried out coal auctions after tweaking rules, alleges Cong citing CAG reports
The opposition party also asked why no action was taken by the government and the prime minister on letters by two BJP leaders raising concerns over the coal auctions. It further asked whether the government would order an ED investigation into the matter.
Google to tweak search results to comply with EU tech rules
Rival comparison sites have been among the most vocal critics of Google's search practices, with a complaint last decade resulting in a 2.42-billion-euro ($2.63 billion) EU antitrust fine.
Sebi tweaks rule for on-boarding investors in Alternative Investment Funds
Capital markets regulator Sebi on Friday tweaked the framework for on-boarding investors by Alternative Investment Funds (AIFs). This came in view of amendments to the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005.
Govt may tweak rules for AI firms, LLMs; FY23 financials for Unacademy, Myntra
The amendments, to be notified soon by the IT ministry, could mandate that platforms that use artificially intelligent algorithms or language models to train their machines, are free of biases.
Exploration companies can now bid for mineral block after rules tweak
The scheme aims to boost activities in the country for exploration of critical and strategic minerals while also easing out the reimbursement and funding operations of the NPEA through the National Mineral Exploration Trust (NMET). The NMET is a non-profit body under the Mines Ministry for promoting mineral exploration.
Sebi tweaks rules, asks AIFs to dematerialise units
Currently, the requirement applies to schemes of Category III AIFs and schemes of Category I and II AIFs with a corpus of more than Rs 500 crore.
Sebi tweaks rules, asks AIFs to dematerialise units
"AIFs may appoint a custodian who is an associate of manager or sponsor of the AIF, subject to conditions similar to those prescribed under Sebi (Mutual Funds) Regulations, 1996 for permitting related party of sponsor of a mutual fund to act as its custodian, "the regulator said in a statement after the board meeting.
New Zealand tweaks rules for its Migrant Exploitation Protection Work Visa
To qualify for this visa, you must first have their report of exploitation assessed by Employment New Zealand. You will need to apply for the MEPV within one month, of receiving your Exploitation Assessment letter. If you apply for the MEPV later than a month, you will have to pay fees or provide additional medical or police certificates.
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