NSE clarification regarding Listing of Treasury Bills (Tbills) and State Development Loans (SDLs) on capital market segment
For the purpose of trading on the system, the security shall be identified only by its designated codes. Trading in such securities shall be in such lot sizes as specified in Annexure to the circular. This circular shall come into effect from June 18, 2021.
listed debt securities of equity listed companies is included under the System Driven Disclosures for the entities
The Depositories and Stock Exchanges shall make necessary arrangements such that the disclosures pertaining to listed Debt Securities along with equity shares and equity derivative instruments are disseminated on the websites of respective stock exchanges with effect from July 01, 2021.
Clarification regarding settlement of running account of client’s funds lying with Trading Member (TM)
Stock Exchanges shall develop online system for effective monitoring of timely settlement of running account for funds of client and to verify that excess clients’ funds are not retained by the TM as on the date of settlement of running account. The intent of the online system shall be to discourage TM from retaining excess funds of clients after settlement of running account, by considering all the client obligations across exchanges.
SEBI relaxes the minimum vesting period in case of death of employees under SEBI (Share Based Employee Benefit) Regulations, 2014.
At Present, regulation 18(1) and 24(1) of the SEBI (Share Based Employee Benefit) Regulations, 2014 (“SBEB Regulations”) provides that there shall be a minimum vesting period of one year in case of employee stock options (“options”) and stock appreciation rights (“SAR”)
SEBI grants recognition to BSE subsidiary for administration of investment advisers.
All existing SEBI registered IAs shall be required to seek membership of BASL. Further, new applicants shall be required to obtain membership of BASL before applying for registration with SEBI as Investment Advisors.
SEBI revises the framework on regulatory sandbox.
There are two stages for sandbox testing and the eligibility criteria for stage 1 should be an entity registered with SEBI under section 12 of the SEBI Act 1992 and should have a genuine need for live testing the solution on real users. The applicant should provide justification that testing in test environment with test data is not enough.
BSE guidance note on communications by Listed Entities
BSE has noticed that Key Managerial Personnel or any other person representing the listed entity is seen disclosing the company’s prospects, future plans, etc while being interviewed. The company shall ensure that no price sensitive information is disclosed unless the same has been first disclosed to the stock exchanges.
The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.
A company may delist its equity shares from one or more of the recognised stock exchanges on which it is listed without providing an exit opportunity to the public shareholders, if after the proposed delisting, the equity shares remain listed on any recognised stock exchange that has nationwide trading terminals.
The Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2021
Any amount required to be credited by the companies to the IEPF shall be remitted into the specified account of the IEPF Authority maintained in the Punjab National Bank [and the details thereof shall be furnished to the Authority in Form No. IEPF-7 within thirty days from the date of remittance.
SEBI issues Circular on Potential Risk Class Matric for debt schemes based on Interest Rate Risk and Credit Risk.
The Risk-o-Meter stipulated by SEBI reflects the current risk of the scheme at a given point in time, there is also a need for disclosure of the maximum risk the fund manager can take in the scheme.
