SEBI directs Asset Management Companies to use an automated Order Management System
AMCs shall use an automated Order Management System (hereinafter referred to as ‘OMS’), wherein the orders for equity and equity related instruments of each scheme shall be placed by the fund manager(s) of the respective schemes.
SEBI future extends the timeline for compliance with regulatory requirement.
The norms for KYC application form and supporting documents of clients need to be uploaded on a system of KRA (KYC Registration Agency) within 10 days however Sebi has now excluded the period from January 1, 2021 to February 28, 2021 and a 15-day period after February 28 will be given to clear the backlog.
SEBI extends the timeline for implementation of Creation of Security in issuance of listed Debt Securities and ‘due diligence’ by Debenture Trustee.
The timeline for Creation of Security in issuance of listed Debt Securities and ‘due diligence’ by Debenture Trustee has been extended to 1st April 2021.
SEBI amends the procedural guidelines for proxy advisors.
SEBI has stated that the Proxy Advisors shall alert clients, within 24 hours of receipt of information, about any factual errors and any impending material revisions to their reports.
SEBI has issued new norms to govern Core Settlement Guarantee Fund (SGF), Default Waterfall and Stress Test for Limited Purpose Clearing Corporations
The Limited Purpose Clearing Corporations (LPCC) are directed to make the details of contribution policy, investment policy and Default waterfall for segment available on its website.
SEBI reviews inclusion of historical scenarios in stress testing in commodity derivatives segment.
SEBI had recommended that the Price movements corresponding to a Z-score of 10 will replace extreme price movements beyond that threshold in peak historical returns of all the commodities.
NSE notifies additional penalty which shall be levied in Securities lending and borrowing scheme.
Penalty of 0.05% per day of value of security valued at close price of trade date in capital market segment shall be levied for each instance of shortages by the Participant. This penalty shall be applicable for all securities pay-in obligation including both legs of SLB transactions.
NSE formulates Penalty structure for Non closure of Client Collateral / Client Margin Trading Securities demat accounts.
For Non-closure of existing Client Margin/ Collateral account and Client Margin Trading Securities account shall attract a penalty of Rs. 50,000/- per account (where Members are unable to provide reasonable explanation). Member to be disabled in all Exchanges in case account is not closed within one month of levy of penalty.
SEBI reviews framework of innovators growth platform under ICDR regulations.
The Period of holding of 25% of pre-issue capital to be held by eligible investors for 2 years,is proposed to be reduced to 1 year.
SEBI board meeting resolves to introduce new amendments to SEBI Regulations
Amendments to SEBI (ICDR) Regulations, 2018 to do away with the applicability of Minimum Promoters’ Contribution and the subsequent lock in requirements for issuers making a Further Public Offer.