PFRDA increases the percentage limit of aggregate holding of equity shares in the pension fund by a foreign company
The limit of aggregate holding of equity shares by a foreign company in the pension fund has been increased from 49% to 74% of the paid-up capital.
RBI announces Retail Direct Scheme allowing investors to open Retail Direct Gilt Accounts
RBI Retail Direct Scheme allows retail investors to open RDG Account through Online Portal and access to primary issuance of Government securities and NDS- OM.
BSE Guidance note for companies undergoing Corporate Insolvency Resolution Process
CIRP Resolution Professional shall inform through the Exchange platform any impact on the existing holders / investors of listed securities on areas such as status of listing, the value of holding of existing holders, write off/ cancellation/ extinguishment of existing equity shares/ preference shares/ debentures, etc. without any payment to such holders, where applicable.
SEBI issues norms for valuation of Securities of Multiple Put Options.
The put option shall be considered as ‘in favour of the scheme’ if the yield of the valuation price ignoring the put option under evaluation is more than the contractual yield/coupon rate by 30 basis points.
SEBI reviews advance intimation timeline for modification in contract specification of commodity derivative contracts.
In order to bring in uniformity while giving effect to the contract modifications, SEBI has decided to reduce the number of days of advance intimation for all three categories to 10 days.
The International Financial Services Centers Authority (Bullion Exchange)(Amendment) Regulations, 2021
The amendment provides that In case of any conflict or inconsistency of the provisions of these regulations with the International Financial Services Centers Authority (Market Infrastructure Institutions) Regulations, 2021 on the same subject matter, the provisions of International Financial Services Centers Authority (Market Infrastructure Institutions) Regulations, 2021 shall prevail.
SEBI issues SOP for listed subsidiary company getting delisted by scheme of Arrangement.
The listed holding company and the listed subsidiary have to provide self-certification with respect to both the companies being in the same line of business.
SEBI reduces the time period for submitting application to obtain NOC for release of 1% of issue amount.
The merchant banker shall submit a certificate confirming that all the SCSBs involved in ASBA process have unblocked ASBA accounts. SEBI shall consider the application as incomplete if the application is not accompanied by a confirmation by merchant banker that all the accounts in ASBA have been ‘unblocked’.
SEBI issues SOP handling of technical glitches by Market Infrastructure Institutions and payment of Financial Disincentives.
Technical glitch shall mean any malfunction in the systems of an MII. Malfunction in the systems of the MII shall include malfunction in its (a) hardware, or; (b) software, or; (c) any products/ services provided by the MII, whether on account of inadequate infrastructure/ systems or otherwise, which may lead to either stoppage or variance in the normal functions/ operations of systems of the MII.
SEBI issues further covid-19 relaxations
Timeline for compliances including maintaining of call recordings of orders/ instructions received from clients, Client Funding Reporting, operating the trading terminals from designated alternate locations, KYC application form and supporting documents of the clients to be uploaded on system of KRA within 10 working days and Issue of Annual Global Statement to clients is extended till June 30, 2021 is extended till July 31, 2021.
