SETTLEMENT
Infosys CEO Parekh settles insider trading charges
Salil Parekh, CEO of IT major Infosys, has settled a matter related to alleged insider trading violation by agreeing to pay Rs 25 lakh, said the Securities and Exchange Board of India (Sebi).
Crypto firm Abra reaches settlement with US states for operating without licences
Last year, Abra agreed to discontinue accepting cryptocurrency from its US Abra Trade account customers for use in its products and services, according to a statement from the Conference of State Bank Supervisors (CSBS). Abra announced last year that it would wind down operations for its US retail customers, following multiple enforcement actions from state securities regulators.
India’s new finance hub in Gujarat eyes real-time dollar settlement by 2025
Real-time dollar settlement in India’s newest financial hub in Gujarat, GIFT City, is set to begin later this year. The service aims to attract foreign investors by streamlining transactions and reducing delays.
Jaypee Associates offers improved settlement terms to its lenders
The debt-ridden construction and infrastructure company - which was admitted for insolvency resolution proceedings earlier this month - informed the National Company Law Appellate Tribunal (NCLAT) on Monday that it has revised its offer after the appellate tribunal asked it to consider a higher amount of deposit.
Boeing expected to evade criminal charges for violating settlement, NYT reports
The U.S. Justice Department is expected to offer planemaker Boeing a deferred prosecution agreement for violating the terms of a 2021 settlement related to the fatal 737 MAX crashes. This agreement would require Boeing to install a federal monitor to oversee safety improvements. The DOJ's decision is awaited before the end of the month.
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.
- Go To Page 1
CCI approves Godrej family settlement proposals
The Competition Commission of India (CCI) has approved the restructuring of the Godrej group, involving a realignment of interests, legal ownership, and management among family branches. This restructuring, based on a family settlement agreement from April 30, will affect entities including Godrej Industries, Godrej Consumer Products, Godrej Properties, and others within the GILAC and G&B Groups.
MEP Infrastructure Developers to seek settlement with lenders under IBC: Jayant Mhaiskar
MEP Infrastructure Developers (MIDL) plans to submit a settlement proposal under Section 12A of the Insolvency and Bankruptcy Code (IBC) to resolve its debt issues with lenders. The chairman, Jayant Mhaiskar, aims to seek a settlement before the company faces bankruptcy, highlighting the importance of the IBC provision in creditor settlements.
SBI online settlement of claims: Settlement of claims of FD, savings accounts of deceased SBI customer
State Bank of India customers can claim for settlement pertaining to deposit accounts of deceased online with very few branch visits.
Johnson & Johnson agrees to $700 million settlement over talc products
Johnson & Johnson has agreed to a $700 million settlement with 42 US states and Washington, DC, over allegations of misleading consumers about the safety of its talc-based products. The company maintains that its products are safe and asbestos-free, despite facing around 61,490 lawsuits. The settlement, announced in January, addresses claims of ovarian cancer and mesothelioma linked to talc products. J&J continues to pursue various paths to resolve the litigation, including a proposed $6.48 billion settlement and a comprehensive resolution through litigation or settlement.
All insurers must offer basic cover, meet settlement deadlines: IRDAI
IRDAI announced customer-centric measures, requiring general insurance companies to offer basic insurance products with clear coverage details on their websites for easy comparison and customization.
Jaiprakash Associates Insolvency: NCLAT asks ICICI to consider one-time settlement proposal
NCLAT issues notice to ICICI Bank over Jaiprakash Associates Ltd's one-time settlement proposal, opposed by creditors. JAL aims to pay debt of over Rs 26,000 crore within 18 weeks if OTS is accepted.
Bank of India acquires over 6 pc stake in CCIL IFSC
Promoted by Clearing Corporation of India Limited (CCIL), CCIL IFSC is the proposed entity to build and operate a real-time foreign currency settlement system at GIFT City, the country's only operational international financial services centre.
Failed Wall Street trades rate roughly stable under faster settlement
The U.S. failed trades rate stood at 1.90% on Wednesday, stable from Friday, per DTCC. Market expected a rise to 4.1% post T+1 implementation, from 2.9%, as per ValueExchange.
Sebi launches beta version of settlement calculator
It also enables the applicant to select the appropriate options with respect to their past regulatory track record on the basis of actions of Sebi as well as the details of other ongoing proceedings, if any, as on date of filing the settlement application, the regulator said in a release.
Sebi launches beta version of calculator to arrive at settlement amount
Capital markets regulator Sebi on Thursday launched a beta version of the settlement calculator to simplify the process of arriving at the indicative settlement amount, and provide more transparency in the system.
Wall Street's faster trade settlement sees some temporary bumps
The transition to faster trade settlements in the U.S. faced bumps despite a mainly smooth switch to T+1 settlement cycle from T+2, mandated by the SEC. Market participants anticipated increased trade failures and hiccups in the securities market.
Work overnight for FPI tax papers: Sebi tells big four firms
At a meeting on Tuesday, the Indian capital market regulator has told the accounting biggies in no uncertain terms to generate the mandatory 'confirmation certificate' overnight so that offshore funds managers can repatriate the money from the sale of stocks here to other international markets the very next day.
IRDAI in favour of 100% cashless claim settlement in health
In terms of cashless claims, the regulator wants insurers to decide on authorisation requests within one hour of receipt. It has directed insurance companies to put in place necessary systems and procedures to meet the new guidelines by July 31, 2024.
Nasdaq closes above 17,000; S&P 500 slightly higher, Dow down
Nasdaq crossed 17,000 for the first time boosted by Nvidia, while S&P 500 closed higher and Dow lower as Treasury yields rose.
Wall Street returns to T+1 stock trading after a century
The switch to the system known as T+1 — abandoned in the earlier era as volumes became unwieldy — is ultimately intended to reduce risk in the financial system.
Why reforming the WTO dispute settlement mechanism is imperative
The 13th Ministerial Conference of WTO in Abu Dhabi renewed commitment to a well-functioning Dispute Settlement Mechanism (DSM) by 2024, crucial for the rules-based multilateral trading system.
US stock changes push FX trades into Asia's 'twilight zone'
Asian money managers face disruption as U.S. stock settlement window shortens next week, requiring quicker fund validation in thin, volatile currency markets.
HSBC and StanChart step up GIFT City play, buy stakes in CCIL-IFSC
"Being the global bank that we are, what we do, therefore, is connect India to the rest of the world and connect the rest of the world to India and GIFT is clearly onshoring what was happening offshore," HSBC India CEO Hitendra Dave told ET.
Speedier Wall Street trades putting global finance on edge
Spurred on by the original meme-stock frenzy, the Securities and Exchange Commission is pushing the shift to reduce the chance of something going wrong between when a trade is executed and when it's settled. But the switch to what's known as T+1 comes with risks of its own.
Forex settlement next step by GIFT to onshore what's offshore
GIFT City to launch foreign currency settlement system chaired by K Rajaraman, IFSCA, supported by RBI and Clearing Corporation of India. System to settle US dollar transactions between IBUs in real-time. CCIL subsidiary to operate FCSS, aiming for operation by October 2024. Other currencies may be added later
Faster EPF claim settlement: EPFO multi-location claim settlement to speed up member claims
Faster EPF claim settlement: By allowing for multi-location claim settlement, this feature will speed up member claims processing and replace the current geographical jurisdiction structure along with productivity in offices nationwide.
Gayatri Projects promoters file plea against liquidation
However, a successful outcome is far from easy as any settlement with promoters under Section 12A of Insolvency and Bankruptcy Code (IBC) needs approval from 90% of lenders.
T+0 settlement cycle: Dalal Street ahead of Wall Street, a precursor to instant settlement
Last month, after a long debate we witnessed the part implementation of T+0 settlement cycle for trading in the securities markets. Timely and quicker settlement is a sign of an efficient market as it reduces the risk of any wrongdoing.
Load More
