The Securities Exchange Board of India meeting on September 28, 2021 has proposed framework for Gold Exchange and SEBI (Vault Managers) Regulations, 2021, creation of the Social Stock Exchange and an Investor Charter of SEBI for investors in the securities market and introduction of Silver Exchange Traded Funds in India.
The Board meeting also decided for revision of following regulations:
- Delisting framework pursuant to open offer;
- Superior Voting Rights Shares Framework;
- Regulatory provisions on Related Party Transaction;
- SEBI (Alternative Investment Funds) Regulations, 2012;
- SEBI (Portfolio Managers) Regulations, 2020;
- Securities and Exchange Board of India (Intermediaries) Regulations, 2008.
The Board approved amendment to SEBI (Alternative Investment Funds) Regulations, 2012 allowing Category III AIFs to calculate concentration norms based on Net Asset Value of the fund instead of investable funds for investment in listed equities of investee companies.
The Board approved amendments to the SEBI (Portfolio Managers) Regulations,2020 and the SEBI (Alternative Investment Funds) Regulations, 2012, to facilitate Co-investment by investors of Alternative Investment Funds (AIF) through portfolio management route.
