The searches follow a probe into circulation of unpublished price sensitive information about various listed companies, including some blue chips, through WhatsApp messages and social media chatrooms.
The dealers operating in the space have jumped nearly three times over the past two years.
These benefits would only be available to individuals and corporates, and professionals like auditors will not be able to use this route as they are duty-bound to report any wrongdoing.
The finance ministry has put out an advertisement seeking applications from eligible candidates for the post and gave just two weeks against the usual practice of three months. Further, the tenure of the watchdog is again being extended to five years.
Future Retail Ltd has said that SEBI's one-year ban on its chairman Kishore Biyani and some other promoters from the securities market will have "no impact" on the Rs 24,713 crore-deal with Reliance. Further, Kishore Biyani, some other promoters and Future Corporate Resources Pvt Ltd (FCRPL) plan to appeal against the order passed by Securities and Exchange Board of India (SEBI) on Wednesday. "The order will have no impact on the ongoing Scheme of Arrangement of the company. We understand that the relevant parties propose to challenge this order in exercise of their statutory right to appeal," Future Retail Ltd (FRL) said in a late-night regulatory filing on Wednesday.
Likely to select from 3 shortlisted; follows Sanjeev Kaushik's refusal to take the job if made to retire from IAS
In his first two years, Tyagi, a Himachal Pradesh cadre IAS officer, has implemented challenging stock market reforms and taken action against high-profile corporate entities.
The market capitalisation of Adani Group companies rose by nearly Rs 73,000 crore on Monday as investors lapped up shares of the power-to-port conglomerate after BJP's electoral wins in three states, spurring hopes of regime continuity at the Centre. The Gautam Adani group's market map once again neared the Rs 12-trillion mark, following sharp gains made over the past week. "Two big overhangs for the Adani Group have receded somewhat following the state election results, there is more certainty that the BJP will win a third time next year.
The contribution from asset management companies (AMCs) has surpassed the Rs 3,000 crore target for the creation of a Rs 33,000 crore backstop facility for debt mutual funds (MFs). The initial corpus for the Corporate Debt Market Development Fund (CDMDF) is nearly Rs 3,100 crore, according to multiple government officials and AMC executives. "The fund is operational now. "The required corpus has been raised by AMCs and the remaining part (Rs 30,000 crore) is in the form of a guarantee from the government which will be activated only in case of a credit event," explained D P Singh, joint CEO and deputy MD, SBI MF.
According to the new proposals, resident promoters or a foreign promoter from a FATF jurisdiction can set up a market infrastructure institution.
On a daily basis, AMCs are required to disclose the Total Expense Ratio of all mutual fund schemes except infrastructure debt fund schemes on their respective websites.
Investors should view the increase in the LTCG tax rate in conjunction with the increase in capital gains exemption from Rs 1 lakh to Rs 1.25 lakh, which will provide some relief.
Sebi also allowed foreign investors to own up to 15 per cent stake in domestic stock and commodity exchanges
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
Central KYC not in sync with Sebi's KRA system; regulator writes to finance ministry
The spike in volatility, amid election uncertainty, has done little to dent the confidence of retail investors, shows demat account addition and equity mutual fund (MF) investment data. In May, investors opened a net 3.6 million demat accounts, taking the total to 158 million. MF data released on Monday pegged the net inflows into equity schemes and SIP investments at new record highs of Rs 34,697 crore and Rs 20,904 crore, respectively.
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.
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
The regulator typically meets overseas investors in the US and UK in the first half of a financial year, and had opted for a virtual meet last year too.
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
Sebi penalised Shruti Vishal Vora - found guilty of leaking price sensitive information related to financial results of Wipro, Asian Paints and Mindtree, and Parthiv Dalal for similar action in case of Wipro earnings.
Issuing guidelines for enhanced disclosures by CRAs, the watchdog has called for having a uniform Standard Operating Procedure in respect of tracking and timely recognition of default.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
Interception of electronic communication should also be covered in the powers being sought, the report said.
Anamika Pareek answers five most frequently asked questions about investing in silver ETFs
To provide a 'data lake' solution, the markets regulator had issued a notice in May, inviting expression of interest (EoI) from interested parties. The selected company will be responsible for designing, implementing and supporting a big data solution with analytical capabilities.
Sebi had also ordered the fund house to compensate investors who had redeemed their units since the date of allotment of shares in the I-Sec IPO.
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 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 exchange cited issues with its telecom service providers that prevented stocks and index quotations from getting updated.
Sebi's surveillance department has red-flagged unusual trading patterns in some stocks. Shares of some companies were seen going up ahead of a sharp sell-off.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
Regarding the applicability of stamp duty on redemption of mutual fund (MF) units, Sebi said, "Redemption is not liable to duty as it is neither a transfer nor an issue nor a sale." However, switching in mutual fund would attract stamp duty. "The issue of fresh units in the switched scheme would attract stamp duty even though there is no physical consideration paid or transfer of ownership," Sebi said.
These are usually found among small and midcaps. It is not easy to find such stocks, especially after a strong bull market, discovers Debashis Basu.
In April 2015, the regulator issued a show cause notice to the bank for alleged violation of portfolio managers' norms with respect to one relationship manager.
Writes to Trai, Mumbai Police to catch unauthorised SMS senders
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
BMA's clients allege that depository firm CDSL and stock exchanges did not act on their complaints, prompting them to protest before Sebi. They say their shares have been transferred to a pool account without their knowledge and have been used to avail loans. Clients alleged that BMA has pledged their securities with a leading private bank, who could have sold their holdings.
The previous board of Fortis Healthcare had links with Singh brothers and there was an investigation by law firm Luthra and Luthra into Rs 472 crore that was diverted into other companies.
Market regulator is trying to build a large team of software experts for efficient monitoring and surveillance
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