MII
Sebi targeting F&O froth but longer term investors may get caught in cross-firing
Sebi's new regulations on F&O trading aim to standardize charges and reduce excessive profits for brokers. This may lead to higher costs for long-term investors and potential changes in brokerage models. Retail participation in options trading is being closely monitored for its impact on savings.
Sebi's levy order likely to erode Rs 2,000 crore from discount brokers' income, hit client base
Several brokerage companies, including IIFL Securities and Motilal Oswal Financial Services, saw share declines of 3% to 7% due to the regulatory order affecting brokerages, potentially leading to adjustments in zero-payment plans or increased rates.
Broking stocks fall up to 10% after SEBI calls for uniform charges
SEBI instructed MIIs to ensure uniform charges benefiting end clients, with changes effective from October 1, 2024. The circular aims to rectify incorrect disclosures, especially regarding charges collected from end clients by MIIs. MIIs are directed to redesign charge structures and communicate with SEBI for compliance.
Sebi directs MIIs to implement uniform charge from October 1
Sebi directs MIIs to implement a new charge structure for fair market access, ensuring transparency and equal treatment for all participants.
Blow to Discount Brokers: Sebi says charges levied by market institutions should be uniform
Exchanges frequently offer lower fees to brokers who generate high trading volumes, which has led to increased activity across segments such as derivatives. Sebi is considering asking exchanges to halt this practice as part of a broader strategy to temper the excessive trading activity in India's derivative markets. Discount broking firms' revenues are expected to get hit as a significant part comes from the paybacks that exchanges give for the volumes they generate.
Sebi issues guidelines for stock bourses, market infra institutions
Functional committees are the member committee, nomination and remuneration committee, oversight committees, standing committee on technology regulatory oversight committee, and risk management committee and investment committee.
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Sebi issues financial disincentives guidelines for bourses, other MIIs for surveillance lapses
Sebi on Thursday came out with a framework on "financial disincentives" for stock exchanges and other market infrastructure institutions for their lapses in detecting abnormal or suspicious trading activities to safeguard the interest of retail investors.
FIU notifies fresh money laundering, terror financing reporting alerts for capital markets
India’s financial intelligence unit issues new alert indicators under PMLA for various sectors to combat money laundering and terrorism financing. Collaborations with regulatory bodies aim to strengthen monitoring, reporting, and analysis of suspicious transactions for law enforcement agencies. These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act (PMLA) during the 2022-23 financial year and published in a recently released report that has been accessed by PTI.
100 % FDI in the space sector: India opens its doors to enhanced private participation
The amendment is a part of the Indian Space Policy 2023. It is a comprehensive and dynamic framework designed to unlock India's potential in the space sector through enhanced private participation.
Stock market holiday cancelled. Why this Saturday will be a working day for traders
Share Market Holiday: BSE and NSE have cancelled market holiday for this Saturday to conduct a special live trading session tomorrow. The session aims to test preparedness for handling unexpected disasters and aligns with Sebi's guidelines. The timings will be different as it involves a switch over from the primary site to the disaster recovery site. The session will be divided into two sessions with trading, settlement, and billing happening as usual but for a smaller time window. The price band has been fixed at a maximum of 5% for all stocks.
Stock exchanges to conduct special live trading session on January 20; here’s why
Stock exchanges will be conducting a special live trading session on January 20 (Saturday), in a move to switch over to the Disaster Recovery (DR) site.
Sebi puts in place guidelines to boost cyber security framework for exchanges
Accordingly, the regulator came out with guidelines to strengthen the existing framework for MIIs -- stock exchanges, clearing corporations, and repositories.
Sebi comes out with guidelines for exchanges' MDs, CEOs to boost cyber security
Along with this cyber audit report, all MIIs have been directed by Sebi to submit a declaration of compliance from their MD or CEO certifying that comprehensive processes, including suitable incentive or disincentive structures, have been put in place for identification as well as closure of vulnerabilities in the organisation's IT systems
New norms for bourses to address outages
The regulator defined stock exchange outage as stoppage of continuous trading, either suo moto by the exchange or due to reasons beyond the control of the bourse. However, stoppage of continuous trading would include trading halt on account of index-based market-wide circuit breaker. Sebi said the affected stock exchange should immediately inform various stakeholders about outage.
Sebi extends deadline till Jan 27 for comments on proposal to strengthen grievance redressal
According to Sebi, these processes should be conducted online on an end-to-end basis using the capacity, technology, and other assistance of online dispute resolution institutions and proposed to modify the existing processes for the benefit of the investor.
Sebi tweaks norms to strengthen structure, governance of exchanges, clearing corp
The move to strengthen and scrutinize the regulations come amid the corporate governance allegations against erstwhile members of India’s biggest stock exchange, the National Stock Exchange, including former MD and CEO Chitra Ramakrishna.
Sebi proposes online modes to better resolve complaints
Sebi said the current processes administered by MIIs should be modified such that it gets extended to all investor grievances against securities market intermediaries. "This will make the grievance redressal process more simplified, streamlined and efficient for the investors," Sebi said in a discussion paper.
Buyback norm changes among proposals on Sebi board agenda
Based on the findings of the Keki Mistry report, the regulator has proposed phasing out share buybacks from the open market through stock exchanges as these are prone to misuse.
Sebi panel suggests steps to strengthen governance of stock exchanges, other market infra institutions
In addition, it recommended steps to enhance accountability and transparency and reviewed the policy on safekeeping and sharing of information held by MIIs, revisited the code of conduct and code of ethics for directors of the governing board and KMPs activities.
Sebi panel suggests steps to beef up governance at MIIs
In April, Sebi had constituted an ad hoc committee under the leadership of its former whole-time member G Mahalingam. The committee was formed after the market regulator found several governance lapses at the National Stock Exchange (NSE) while Chitra Ramkrishna was at the helm of the exchange.
Sebi tweaks cyber security, cyber resilience framework of bourses, clearing corps, depositories
According to Sebi, MIIs should carry out periodic vulnerability assessment and penetration testing (VAPT) which includes all critical assets and infrastructure components like servers, networking systems, security devices and other IT systems in order to detect security vulnerabilities in the IT environment and in-depth evaluation of the system's security posture through simulations of actual attacks on its systems and networks
Sebi asks bourses, MIIs to submit info on major non-compliances in systems, network audit
The systems and network audit report will be placed before the governing board of the MII concerned.
'Make in India' not being followed in letter and spirit: Cabinet Secretary
“It has been observed from the tenders issued by various procuring entities on CPP/ GeM (Central Public Procurement/Government eMarketplace) portals that PPP-MII (Public Procurement - Preference to Make in India) Order is not being implemented in letter and spirit by some of the organisations,” Gauba said in his communication.
Sellers not sharing local content amount will be unable to do business on GeM: Govt
The commerce and industry ministry said that now it is mandatory for all sellers to upfront declare the Country of Origin without which they cannot upload products on GeM.
Sebi asks stock exchanges, market intermediaries to strictly comply with Trai SMS rules
The regulator said non- compliance with the provisions of Telecom Commercial Communications Customer Preference Regulations, 2018 (TCCCP Regulations) may result in disruption of delivery of their messages to the investors.
Start ops from disaster recovery site within 45 minutes of tech glitch: Sebi tells MIIs
Sebi said that with advancement in technology and improved automation of processes, it was felt that the extant framework needs to be re-examined with a view to reducing the time period specified for moving from Primary Data Centre (PDC) to Disaster Recovery Site (DRS).
Sebi asks bourses, clearing corps to put in place mechanism to prevent fraud
Under this, managing director (MD) / chief executive officer (CEO) of MIIs will be obligated to frame code of conduct and put in place an institutional mechanism. Further, the board of directors needs to ensure compliance by MD /CEO in this regard.
Karvy debacle: Bourses get show cause notice from Sebi
A show cause notice is sent by Sebi upon completion of its probe. Once the exchanges reply on the matter, it will go to an adjudication officer, who will pass a final order.
Sebi prepares ground to end NSE’s dominance with liberal ownership norms for MIIs
Sebi’s move comes in the backdrop of multiple technological failures encountered by the NSE and both the Central Depository Services Ltd and National Securities Depository Ltd over the past few years and concerns over dominant market shares of these companies.
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