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The Securities and Exchange Board of India (SEBI) has warned investors about unregulated online platforms selling unlisted debt securities, highlighting the lack of regulatory oversight and investor protection. These activities violate multiple regulations, including the Companies Act and SEBI's own guidelines. Investors are urged to exercise caution when engaging with these platforms.
Between January and September 2024, foreign portfolio investors (FPIs) infused $12 billion into Indian equity markets, with minimal selling observed post the September 9 compliance deadline for new disclosure norms set by SEBI. These regulations required FPIs with concentrated holdings or significant exposure to disclose detailed ownership information, but sources indicate that compliance was largely met, dispelling concerns linking the norms to market downturns.
SEBI has proposed a new mechanism to determine the closing price of stocks through a close-auction session (CAS), moving away from the current volume-weighted average price (VWAP) method. This change aims to provide a fairer trading environment for investors, especially during volatile event days, by establishing an equilibrium price based on buyer and seller quotes. The consultation paper suggests implementing CAS in the equity cash segment to enhance index tracking accuracy.
The Securities and Exchange Board of India (SEBI) clarified that digital platforms do not need to be designated as Specified Digital Platforms (SDPs) for registered entities (REs) to connect with third parties. These SDPs facilitate easier compliance for REs, which are advised to avoid associations with unregistered investment advisors or those sharing performance metrics without SEBI's consent. Notably, the compliance burden does not apply when REs engage through SDPs.
The Securities and Exchange Board of India (SEBI) has proposed a significant overhaul of the ownership structure of clearing corporations (CCs), advocating for a more diversified shareholding model that may exclude stock exchanges entirely. This shift aims to enhance the integrity of trade settlements, ensuring that transactions are completed reliably, while also maintaining a settlement guarantee fund to protect against defaults.
A fresh plea has been filed in the Supreme Court seeking an investigation into alleged bribery involving Gautam Adani and others, following the Hindenburg Report. The petition criticizes the Securities and Exchange Board of India (SEBI) for not disclosing findings from a court-ordered probe into stock manipulation and related-party transaction violations, raising concerns about investor trust. It also points to discrepancies in Adani Green's communications regarding a Department of Justice investigation.
The Securities and Exchange Board of India (SEBI) has eliminated the requirement for companies to submit a no-objection certificate (NOC) to release the security deposit made during the IPO listing process. This change, effective from November 21, follows an amendment to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, which previously mandated a 1% deposit of the issue size for public subscription. The latest circular confirms that the NOC requirement has been withdrawn, streamlining the process for companies seeking to access their funds.
The National Financial Reporting Authority (NFRA) is set to discuss aligning audit standards for limited liability partnerships (LLPs) with those for companies at its board meeting on November 25. This move aims to enhance transparency and accountability in LLPs, which currently operate under less stringent regulations. If adopted, the new standards could include specific benchmarks for larger LLPs, improving investor protection and aligning with global practices.
A SEBI study revealed that one in four listed companies paid royalties to related parties exceeding 20% of their net profits. Over a decade, loss-making firms disbursed ₹1,355 crores in royalties, with 102 instances where payments ranged from 40-100% and 74 instances exceeding 100% of net profits.
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