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The Securities and Exchange Board of India (SEBI) has mandated mutual fund houses to disclose total recurring expenses separately for direct and regular plans, enhancing transparency in fund management fees. Introduced in 2012, direct plans, which bypass distributors, have lower expense ratios than regular plans, leading to differing returns. SEBI also requires separate disclosures of returns for both plans over specified periods.
The Securities and Exchange Board of India (Sebi) has mandated mutual funds to disclose expenses for direct and regular plans separately. This requirement aims to clarify the differences in expense ratios, as direct plans incur lower costs due to the absence of distribution expenses and commissions, affecting overall returns.
The Securities and Exchange Board of India (Sebi) has proposed allowing environmental social governance (ESG) rating providers (ERPs) to rate unlisted securities, aiming to enhance ease of doing business. A consultation paper suggests an activity-based regulatory framework for ERPs, which would enable them to rate products and issuers not listed on exchanges. Additionally, entities not engaged in SEBI-regulated activities would not need to seek registration with the regulator.
The Securities and Exchange Board of India (Sebi) has proposed a new framework for restricted infrastructure investment trusts (InvITs), aimed at sophisticated investors. These InvITs will offer managed returns, providing investors with a minimum assurance of returns, regardless of the InvIT's performance.
The Securities and Exchange Board of India (SEBI) has proposed a 30-day timeline for mutual funds to deploy capital from new fund offers (NFOs), with a possible 30-day extension for exceptional cases. Asset management companies must provide written reasons for any delays, and the Investment Committee will oversee the extension process. Public comments on this proposal are due by November 20.
The National Stock Exchange of India Ltd. is awaiting approval from the Securities and Exchange Board of India (SEBI) to proceed with its long-delayed initial public offering, according to CEO Ashish Kumar Chauhan. The exchange can only prepare its application after receiving a no-objection certificate from SEBI, which initially halted the listing due to concerns over unfair access granted to high-speed traders. Following the resolution of these issues, the NSE has been cleared of allegations related to market access collusion.
Research analyst Arun N, known for his handle @HarmonicsT, was fined Rs 7 lakh by Sebi for misleading claims of "75% accuracy" regarding his stock recommendations, which he argued referred to timing. The regulator found that this statement misled investors into believing it indicated potential returns. Additionally, Arun N violated regulations by outsourcing KYC processes, failing to properly verify client identities.
Investment bankers are urging the Securities and Exchange Board of India (Sebi) to reconsider its proposed tightening of merchant banking rules, citing compliance concerns. The new regulations, outlined in a consultation paper released on August 28, aim to prevent conflicts of interest by prohibiting bankers from taking on mandates for companies where their directors or relatives hold shares worth Rs 10 lakh or 0.1% stake, whichever is lower. The broad definition of "relatives" as per the Income Tax Act has raised significant apprehensions among bankers.
SEBI chief Madhabi Puri Buch has requested an exemption from appearing before the Public Accounts Committee (PAC) on October 24 due to personal reasons. The PAC, led by K C Venugopal, is set to review the performance of regulatory bodies, including SEBI, amidst ongoing political tensions following allegations from US firm Hindenburg.
Madhabi Puri Buch, chairperson of SEBI, is set to appear before the Parliament's Public Accounts Committee on Thursday amid accusations of political bias from a senior BJP member. The meeting will focus on the performance review of regulatory bodies, with representatives from the finance ministry and SEBI providing oral evidence. Buch's appearance follows a political controversy sparked by allegations from US firm Hindenburg, which has intensified scrutiny from the ruling party.
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