STOCK DISCLOSURE RULES
Elon Musk suggests late Twitter disclosure was a mistake, seeks to end lawsuit
Elon Musk seeks to dismiss lawsuit from former Twitter shareholders over delayed stake disclosure. Shareholders claim he saved $200 million by waiting to reveal his 9.2% ownership. Musk denies fraud allegations, stating it was a mistake. SEC also looked into his Twitter stock purchases. Lawsuit led by Oklahoma pension fund.
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.
Sanjiv Bhasin on three IT stocks that may outperform in near term
It would be HCL Tech, Wipro and Mphasis. We participated in this sell-off in Mphasis because of Blackstone reducing its stake. We think Mphasis is one of the best poised companies in IT. By the way, a month back I had recommended Coforge when it went to 4400, 4500, 4600 just because they are raising their QIP.
Stock disclosure rules for yellow peas tightened as importers refuse to sell
Importers of pulses in India have urged the central government to impose an import duty on yellow peas due to the adverse impact of inexpensive imports on domestic market prices. Expressing worry over importers withholding significant quantities of yellow peas imports in domestic markets, the central government recently intensified stock disclosure regulations for the pulses industry and trade. In addition to stakeholders submitting their stock positions, they are now required to report stock in and stock out quantities twice a week.
IRDAI probes Care Health's stock option issue to Saluja
IRDAI revealed that a probe into stock option allotment to Saluja is on in response to a query raised by Rahul Kanoj under the Right to Information Act (RTI) to the insurance regulator. The regulator said in its response, "The information sought is not furnished as the same would impede the process of investigation or apprehension." ET has seen IRDAI's response to the RTI query.
Now, relief from full disclosure won't be easy for pooled FPIs
This was communicated by the Securities & Exchange Board of India (Sebi) to custodians of offshore funds, two persons aware of the regulatory changes told ET. Custodians are banks and non-bank institutions holding cash and securities on behalf of FPIs.
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Sebi changes rule for calculating market cap, six-month average to be used now
The regulator said instead of using the market capitalisation of a single day which is currently March 31, listed companies will now have to use the average market capitalisation for a six- month period.
Sebi amends rule to facilitate ease of doing biz for cos planning IPOs
Companies promoted by entrepreneurs often have several rounds of funding prior to listing their equity shares on the stock exchanges. In such situations, the promoters' holding may fall short of the minimum promoter contribution i.e., 20 per cent of the post-offer equity share capital.
Sebi changes rule to determine m-cap of listed firms; 6-month average to be used now
Market experts believe the market capitalisation of a listed entity keeps fluctuating on a daily basis based on market dynamics and, therefore, an average of market capitalisation figures over a reasonable period of time (six months) would more accurately reflect the market size of the listed entity and consequently the ranking, vis-a-vis its peers.
Esop non-disclosure triggers black money law
A number of resident individuals working in Indian subsidiaries and arms of offshore parents have recently received notices from the Income Tax (I-T) department which has pointed out amounts that either went undisclosed or untaxed or both.
Sebi proposes easing disclosure rules for non-convertible securities issuance
To promote ease of doing business for issuance of non-convertible securities, Sebi on Thursday proposed removing the requirement to disclose the PAN and personal address of issuers' promoters in the offer document along with other relaxations in disclosure guidelines.
Govt evaluating RBI proposal for higher infrastructure provisioning; bankers, NBFCs voice concern
Lenders may oppose the draft rules, which proposes provisioning of up to 5% from current 0.4%, due to concerns over rising interest rates and potential disruption to capital expenditure. Banks plan to lobby against the steep increase, arguing it could affect project viability and economic momentum. State-owned NBFCs and infrastructure firms are also raising concerns, emphasizing the need to balance risk and support for infrastructure financing.
Whether ruling party gets 450 seats or not, take some money off the table: Sanjiv Bhasin
Sanjiv Bhasin warns of a potential sharp correction in the stock market due to rising borrowing costs and uncontrolled inflation. He highlights Anil Agarwal's plans for the steel business demerger and discusses the challenges faced by Kotak Bank with online KYC regulations. He also says KV Manian's resignation from Kotak Bank will get absorbed by the market. There are enough good people within Kotak Bank to take that mantle.
Coinbase must face US securities regulator's lawsuit, says judge
While the decision is a partial win for Coinbase in what could be a lengthy and expensive court battle, it largely blesses the SEC's approach to cryptocurrency and agrees with other judges who have sided with the regulator.
Is fractional ownership of real estate safe? Here's how SEBI is making it safer for retail investors
New Sebi rules on fractional ownership: Investors who were unable to buy whole property due to cash crunch can invest in the real estate via fractional ownership. However, without proper regulation, there was always a question whether such investments are safe. The new Sebi rules on REITs makes the fractional ownership of real estate investment safer for retail and HNI investors.
ET Explainer: Sebi’s stricter FPI disclosure norms and its likely impact
According to the new regulation, FPIs holding over 50% of their Indian equity AUM in a single Indian corporate group and those having more than Rs 25,000 crore of equity assets under management in Indian stocks are required to provide granular details of all entities with any ownership, economic interest, or control rights in the fund or the entity to Sebi.
Rs 10,500 cr sell-off in just 3 days! FII dollars exit Dalal Street at a fast pace; who’s the culprit?
FIIs net sold shares worth Rs 10,556 crore in the secondary market in just three sessions last week. Last week, January 22 and 26 were public holidays. Such was the sell-off last week, that it made for one-third of the total outflows seen in domestic equities so far in January.
RBI's draft rules on fintech SRO; Pixxel unveils mega facility
The main idea behind the guidelines is to empower the fledgling sector to function and innovate responsibly even in the absence of formal regulations.
FPI custodians finalise disclosure exemption rules
Determining the global AUM is significant because a 'regulated' fund whose exposure to an Indian business group and to the Indian equity market is below 25% and 50% respectively of its global AUM is spared of the granular disclosure rules laid down by the Securities and Exchange Board of India (Sebi).
LIC gets time till 2032 to follow 25% public shareholding rule
In May 2022, the government had sold 3.5% stake in LIC IPO, which was an entirely (offer for sale) worth around Rs 21,000 crore. It remains India's largest IPO to date.
India to ease capital, disclosure rules for passive funds - sources
"With the lighter touch regulations, global players such as Vanguard, State Street SPDRs, and others who have a core focus and expertise only in passive funds, can become more keen to set up business in India and launch a passive only fund houses under this proposed light touch regulations," said Anil Ghelani, head of passive investments and products at DSP Asset Managers, an Indian asset management firm.
US SEC shortens stock disclosure deadline to 5 days
The SEC proposal, first broached in 2022, angered some activist investors who claimed that having to step forward sooner could make it unprofitable to build the ownership positions they need for successful takeover campaigns.
Valiant Organics settles case with Sebi, pays Rs 10 lakh
Following this, Valiant Organics allotted 72 fully paid equity shares of Rs 10 each and 21 Optionally Convertible Preference Shares (OCPS) of Rs 10 each held in ACL, for every 100 equity shares of Rs 10 each held in ACL.
Sebi fines Rs 7 lakh on Shapoorji Pallonji and Company for violating disclosure rules
By not making such disclosures, the company violated the provisions of LODR rules and accordingly, Sebi imposed a "penalty of Rs 7 lakh on the noticee viz. Shapoorji Pallonji and Company Pvt. Ltd".
Sebi's probe faults Adani Group on disclosure rules: Report
The Securities and Exchange Board of India (SEBI) launched the inquiry after U.S.-based Hindenburg Research raised governance concerns around the Gautam Adani-led group, shaving more than $100 billion from the market value of its companies.
Indian regulator SEBI's probe faults Adani group on disclosure rules
An investigation of India's Adani group by the market regulator has uncovered violations of rules on disclosures by listed entities and limits on the holdings of offshore funds. News agency has been told that the violations have been characterisedas being of a "technical" nature that would attract no more than a monetary penalty once the investigation is complete, however.
Tightrope for promoters: Sebi's new rules on disclosing internal agreements
The Securities and Exchange Board of India (SEBI) has expanded disclosure requirements for listed entities to encompass agreements not binding between parties, if they pertain to management or control of the company. The move is intended to boost transparency, mitigate information asymmetry and prevent unfair practices.
Sebi pulls up I-banks over lack of proper IPO disclosures on the promoter group
Last year, the Securities and Exchange Board of India (Sebi) had issued an advisory to investment banks, asking them to furnish either an affidavit from such a family member or members, clearly stating they do not want to be classified as part of the promoter group, or a memorandum of understanding (MoU) between the promoter and the family member.
Sebi board OKs stricter disclosure rules for FPIs
The Securities and Exchange Board of India (SEBI) has approved stricter disclosure rules for foreign portfolio investors (FPIs) to prevent misuse of overseas investment routes and violations of shareholding regulations. The new rules require FPIs to make additional disclosures on ownership, economic interest, and control of funds. The move comes amid SEBI's ongoing investigation into allegations of infringements by the Adani Group. SEBI also approved a proposal to reduce the interval for listing shares after a public offering to three days, instead of the current six days. The revised timeline will be implemented in two phases.
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