SEBI CIRCULAR
Sebi issues new guidelines to streamline operations of credit rating agencies
Markets regulator Sebi has issued new guidelines to streamline operations and enhance the ease of doing business for credit rating agencies. The circular introduces specific timelines for dealing with appeals made by companies regarding rating actions carried out during periodic surveillance of ratings.
Sebi extends deadline for annual submissions by stock brokers, depository participants till Oct 31
The provisions of this circular are effective immediately. It mandates that stock brokers must submit their annual audited accounts by October 31. Additionally, depository participants (DPs) are required to provide their net worth certificates for the year ending March 31 by the same deadline.
Persistent shares surge 3% post acquisition. Ticks all right boxes, says ICICI Securities
Persistent Systems' shares skyrocketed to a record high after sealing a deal to acquire Starfish Associates, boosting their AI offerings.
Sebi asks stock brokers to put in place system for surveillance of trading activities
In the midst of a strong bull market, Sebi has introduced new guidelines for stock brokers aimed at preventing and detecting fraud and market abuse. These guidelines, outlined in Chapter IVA of the Broker Regulations, mandate surveillance systems for trading activities, internal controls, obligations for brokers and their employees, escalation procedures, reporting mechanisms, and the implementation of a whistle-blower policy.
Sebi reduces face value of debt securities to Rs 10,000 to boost retail participation
This, however, would be subject to certain conditions like the issuer should appoint at least one merchant banker, and non-convertible debentures and non-convertible redeemable preference shares be plain vanilla, interest or dividend-bearing instruments.
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.
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Zerodha may end zero brokerage structure for equity delivery trades after Sebi's order: Nithin Kamath
With the new Sebi circular that mandates uniform charges by market infrastructure institutions like stock exchanges, brokerages are feeling the heat. Zerodha's Nithin Kamath on Tuesday said the brokerage may have to go back on zero brokerage structure or increase brokerage for F&O (futures and options) trades.
Sebi mandates email as default mode for dispatching CAS by depositories, Mutual Fund-RTA
Markets regulator Sebi on Tuesday mandated email as a default mode of dispatch of 'Consolidated Account Statement', which provides an account of securities traded by an investor, by depositories and Mutual Fund-Registrar and Transfer Agents (MF-RTAs).
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.
Zero factual inaccuracies with our Adani research: Hindenburg on Sebi notice | Read short seller's full response here
Adani-Hindenburg Case: US-based short-seller Hindenburg Research stated Kotak Bank, one of India’s largest banks and brokerage firms founded by Uday Kotak, which created and oversaw the offshore fund structure used by our investor partner to bet against Adani. Instead it simply named the K-India Opportunities fund and masked the “Kotak” name with the acronym “KMIL”
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.
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
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.
Sebi permits up to 100% aggregate NRI corpus contribution for FPIs based out of GIFT IFSC
Sebi allows up to 100% NRI, OCI, and RI contribution in FPIs at IFSC to boost Indian investment. Declarations and PAN card submissions are required, with provisions for contributors lacking PAN or taxable income. Existing FPIs must submit declarations within six months for renewal review.
Sebi approves stricter norms for inclusion of individual stocks for derivative trading
The criteria for exit would apply to only those stocks which have completed at least six months from the month of entry into the derivative segment. while for existing stocks in the derivatives segment, the exit criteria on the basis of performance would be applicable three months after the date of issuance of circular, Sebi said.
Sebi revises eligibility criteria for entry, exit of stocks in derivatives market
The regulator has introduced a Product Success Framework for single stock futures and options, aiming to enhance liquidity and participation in the derivatives market while ensuring market development, regulation, and investor protection. The framework will come into effect six months after the circular's issuance.
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.
Sebi modifies duration for call auction in pre-open session for IPOs
During the pre-open call auction for some IPOs and relisted stocks, unusually large orders were placed at inflated prices, only to be cancelled shortly before the session closed. This pattern suggests potential market manipulation. In order to curb the misuse of the call auction session, Sebi has decided to modify the current provisions related to call auction sessions for IPO and relisted scrips and introduce additional surveillance measures at stock exchanges.
Sebi issues guidelines for contribution to LPCC's core settlement guarantee fund
LPCC is an entity established to undertake the activity of clearing and settlement of repo transactions. A well-functioning repo market contributes to the development of the debt securities market by way of boosting liquidity.
Why it is time to focus on plastic waste recycling and renewables
Efforts are underway to streamline processes, enhance transparency, and create value in the recycling industry. Companies are focusing on sustainability and profitability through efficient resource management.
SIP SIP Stop: Account closures at new high with tighter regulation
The SIP stoppage ratio reached a record high of 0.88 in May 2024, as per AMFI data, indicating closures surpass new additions.
SIP discontinuation aggravates in May amid regulatory changes, lower NFOs
The SIP stoppage ratio, which indicates how many SIPs were closed for every new account, reached a record 0.88 in May 2024 compared with the long term average of 0.51 according to the data from the Association of Mutual Funds in India (AMFI).
Sebi junks rule to freeze Demat a/cs, MF folio rule for non-submission of nomination
The regulator said dividend, interest or redemption payment withheld presently by listed companies and registrar and transfer agents for want of nomination should be processed accordingly.
Brokers' future role may reduce to just processing orders: Zerodha CEO Nithin Kamath
Nithin Kamath praised Sebi for its investor-friendly initiatives, highlighting two recent measures. The first mandates the direct transfer of securities by clearing corporations to demat accounts, and the second proposes increasing the threshold for the Basic Service Demat Account (BSDA) from Rs 2 lakh to Rs 10 lakh.
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.
Sebi relaxes timeline for material-change disclosures by FPIs
Markets regulator Sebi on Wednesday relaxed timelines for disclosure of material changes by Foreign Portfolio Investors (FPIs). The regulator categorised material changes notified by FPIs into two groups.
Sebi mandates direct transfer of securities by clearing corporations to Demat accounts
The proposed change seeks to streamline operations and mitigate risk by directly crediting securities payouts to clients' Demat accounts, bypassing the broker's pool account.
LIC Mutual Fund changes name of five schemes
LIC Mutual Fund has announced the name change of its five schemes which include debt and equity schemes.
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