SEBI’s New Guidelines on Mutual Fund Participation in Credit Default Swaps (CDS)
By allowing Mutual Funds to sell CDS, SEBI has provided them with a new tool to generate returns and manage liquidity. This move could lead to deeper corporate bond markets as funds become more active participants in managing credit risk.
Standard Operating Procedure for payment of “Financial Disincentives” by Market Infrastructure Institutions (MIIs) as a result of Technical Glitch
MIIs shall carry out internal examination pertaining to occurrence of technical glitches to ascertain individual accountability and take appropriate action including suitable recording and reckoning in the performance appraisal of those individuals. SEBI would retain the right to initiate enforcement action against the individuals at the MII, if there is sufficient ground to do so.
IFSCA circular on trading and settlement of Sovereign Green Bonds
This circular provides an overarching framework for the trading of SGrBs and outlines the various eligible participants, market infrastructures, and procedures involved in the trading and settlement of these securities.
Incentive provided by IFSCA for filing of ESG Funds by Registered FMEs at GIFT IFSC
To encourage green private capital to be channelised via the fund route, IFSCA has waived the fund filing fees for the first 10 ESG funds filed by Registered FMEs at GIFT IFSC. So far, while one Registered FME, has already availed the said incentive provided by IFSCA by launching an ESG Fund it is observed that awareness regarding ESG Funds and the incentives provided by
IFSCA is limited only to the Fund managers.
SEBI clarification regarding usage of UPI by individual investors for making an application in public issue of securities through intermediaries
In order to streamline and align the process of applying in the public issue of debt securities, non-convertible redeemable preference shares, municipal debt securities and securitized debt instruments with that of public issue of equity shares and convertibles, it has been decided that all individual investors applying in public issues of such securities through intermediaries (viz. syndicate members, registered stock brokers, registrar to an issue and transfer agent and depository participants), where the application amount is up to Rs. 5 Lakh, shall only use UPI for the purpose of blocking of funds and provide his/ her bank account linked UPI ID in the bid-cum-application form submitted with intermediaries.
SEBI promotes standardized reporting
The new standardized file formats, termed “Unified Distilled File Formats (UDiFF)”, which is in conformity with international ISO standards, has been implemented in a phased manner.
Operational Guidelines for Foreign Venture Capital Investors and Designated Depository Participants
hese operational guidelines (“guidelines”) for Foreign Venture Capital Investors (“FVCIs”) and Designated Depository Participants (“DDPs”) are issued to facilitate smooth transition to the amended FVCI regime and operationalisation of the amended provisions of SEBI (Foreign Venture Capital Investors)Regulations, 2024 (FVCI Regulations”).
SEBI has reduced the timeline for listing of debt securities and Non-convertible Redeemable Preference Shares to T+3 working days from existing T + 6 working days
The T+3 timeline for listing shall be appropriately disclosed in the Offer Documents of public issues.
Securities and Exchange Board of India (Delisting of Equity Shares) (Amendment) Regulations, 2024
The amendment provides that when delisting is proposed upon acquisition, acquirer shall open an interest bearing escrow account with a Scheduled Commercial Bank, not later than seven working days from the date of obtaining the shareholders’ approval, and deposit there in an amount equivalent to twenty-five percent of the total consideration.
TRAI releases Consultation Paper on “Review of the Telecom Commercial Communications Customer Preference Regulations, 2018
TRAI is seeking input on areas to strengthen the regulations, including stricter provisions against the Unregistered Telemarketers (UTMs) who harass the public through spam calls, improved complaint redressal mechanisms, more effective UCC detection systems, stronger financial disincentives for violation of regulatory provisions, and revised regulations for senders and telemarketers.
