New regime places more limits on unregulated foreign entities
Keeping surplus money in a bank account has become perilous, alerts Harsh Roongta.
Sebi's stewardship code for mutual funds and alternative investment funds lays down six principles to improve corporate governance standards in their investee companies, reports Jash Kriplani.
The Securities and Exchange Board of India's (Sebi's) technical advisory committee has been mandated to probe the trading halt at National Stock Exchange (NSE) and fix accountability. The committee after a detailed examination would send its findings and recommendations to whole-time member Madbhi Puri Buch, to decide the future course of action, said two people in the know. The panel, which is currently chaired by Ashok Jhunjhunwala of IIT Madras, is learnt to have sought an explanation over two key issues from NSE: One on the effectiveness of interoperability as it was unable to migrate the trading positions; the other on laxity in switching it to the disaster recovery site.
The decision to quiz Sinha, as also former Sebi Chairman M Damodaran, was taken after examination of another former Sebi chief C B Bhave earlier this month, during which the agency sleuths were told that public interest was involved in grant of licence to MCX-SX to trade in currency derivatives.
The National Stock Exchange (NSE) has made a fresh attempt at settling a regulatory investigation into the misuse of Trading Access Point (TAP) software at the bourse. The Securities and Exchange Board of India (Sebi) rejected a similar application in 2022. "NSE and its employees have filed a consolidated settlement application dated May 4, 2023, with Sebi.
The stock market regulator's definition of large, mid, and small-cap companies has irked mutual fund managers, reports Samie Modak.
Sebi has asked exchanges to appoint independent auditors to conduct forensic audit of these firms for verification, including their credentials/financials.
In a nearly 10-year-old case, Sebi on March 24 had banned Reliance Industries and 12 others from equity derivatives trading for one year, while accusing RIL of making 'unlawful gains'.
Market regulator also announces measures for mutual funds sector.
Within Sebi, the chairman should hold an umbrella for both young and old employees, says Somasekhar Sundaresan.
The Securities and Exchange Board of India (Sebi) is in the process of issuing a standard operating procedure (SOP) for designated depository participants (DDPs) regarding disclosures and onboarding of foreign portfolio investors (FPIs), according to a regulatory document seen by Business Standard. DDPs act as a link between the markets regulator and overseas investors. The SOP, framed in consultation with the industry, aims to bring consistency across all players and avoid any form of regulatory arbitrage.
The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline. A day after Sony Pictures Networks India (SPNI) stated that it has not yet agreed to a deadline extension requested by Zee Entertainment Enterprises Ltd (ZEEL) for their proposed $10-billion merger, the Subhash Chandra family-promoted media firm said it has received a communication from Sony group for discussing an extension of the deal which was announced almost two years ago.
Sebi had directed some of these companies to wind up their unregistered schemes and repay investors.
Under U K Sinha, Sebi became a pan-India organisation with local offices in 16 cities
Sebi also approved new delisting rules.
The new powers are aimed at making Sebi more effective in protecting investor interest and helping it to better regulate the market.
Sebi has decided to lay out strict timelines for completion of actions.
The IPO of state-owned steel maker RINL is scheduled to hit the markets in the current fiscal, and the Cabinet has already accorded its approval for the stake sale.
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
The Ministry of Finance's Directorate of Enforcement should also be made a part of the state-level coordination panels,
Technical analyst will not be able to give contrary recommendations regarding a company
Violation of provisions of Sebi Act, Securities Contracts regulation, Prohibition of Fraudulent Trade (PFTUP) norms were not observed in respect of these 114 entities.
Besides bank accounts, Sebi has also in various proceedings ordered depositories, NSDL and CDSL, to attach the demat securities accounts of the erring entities.
These websites may shut shop soon.
Senior officials in the MF industry say while the finance ministry and regulators communicate regularly, this is one of the very few instances in many years where an issue between the two has come out into the open.
E-commerce platform Snapdeal has filed preliminary documents with markets regulator Sebi to raise funds through an initial public offer (IPO), joining the league of internet-led businesses looking to list on domestic stock exchanges. The public issue comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale (OFS) of 3.07 crore equity shares, according to the draft red herring prospectus (DRHP). According to market sources, potential listing could value Snapdeal at about $1.5-1.7 billion.
'If their allocation to certain segments have become high due to strong returns over the past three-four years, they should rebalance their portfolios and bring them in line with their long-term asset allocation.'
Fair trade regulator CCI on Tuesday said it has approved the demerger of the hotel business of diversified entity ITC Ltd into a separate entity. After the completion of the demerger, shares of ITC Hotels Ltd, a new entity, will be listed on the stock exchanges. The proposed combination relates to the demerger of the demerged undertaking to ITC's wholly-owned newly incorporated subsidiary, ITC Hotels.
'An equity-based index fund should be held for more than five years to average out market volatility and achieve financial goals.'
A Mumbai court on Wednesday rejected the bail plea of businessman Raj Kundra, arrested in a case of alleged creation of pornographic films and publishing them through apps, after the prosecution contended the police investigation was still on and his release at this juncture will derail the probe.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
An expert committee, set up by the Supreme Court to probe allegations against the Adani group following a bombshell report from a US short seller, has members with potential conflict of interest, a fresh petition filed in the apex court on Monday said.
'If the portfolio growth rate is higher, take this loan. If it is lower, liquidate your investments.'
Revenue dept says changes in I-T Act require Parliament nod; new regime to wait till Budget in June-July 2014.
Anamika Pareek answers five most frequently asked questions about investing in silver ETFs
Decision to outsource its investor helpline comes within weeks of Sebi deciding to rope in third-party agencies for processing and maintenance of investor grievances.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
Independent directors
