NSE circular provides Penalty structure for Late/Non submission of undertaking to freeze the bank account of Trading Member in case of default
This circular provides the penalties for Non/partial submission of undertaking, Non-submission of additional /addendum undertaking within 7 days of new bank account opening and for Material wrong submission or incorrect submission of data towards SOP. The penalties includes fine and disablement.
SEBI Consultation paper on Compliance Standards for Index Providers
SEBI has issued a Consultation paper on Compliance Standards for Index Providers to create a framework of standards for financial benchmarks (or indices) based on international best practices.
SEBI decides to enable e-voting to all the demat account holders by way of a single login credential.
The Demat account holders would be able to cast their vote without having to register again with the ESPs, thereby, not only facilitating seamless authentication but also enhancing ease and convenience of participating in e-voting process.
SEBI Introduces Application Supported by Blocked Amount (ASBA) as the sole payment mechanism in the IPO and Rights issues.
The additional payment mechanism has been introduced for making subscription and/or payment of calls in respect of partly paid specified securities through SCSBs and intermediaries such as trading members/ brokers – having three in one type account and Registrar and Transfer agents (RTA).
SEBI issues operational guidelines for transfer and dematerialization of re-lodged physical shares.
The Depository Participant will process the Demat Request on the basis of Letter of Confirmation, as this letter is a confirmation of holding of physical shares on behalf of the investor by RTA.
Special courts for trial of offences under the Companies Act, 2013, in respect of cases filed by Securities Exchange Board of India
The Ministry of Corporate Affairs vide notification dated 27.11.2020 has designated four special courts for the purpose of ensuring speedy disposal of trials of offences punishable under the Companies Act, 2013, in respect of cases filed by the Securities Exchange Board of India (SEBI).
SEBI further extends the relaxation in timelines for compliance with regulatory requirements.
For the compliance requirements for KYC (know your customer) application form and supporting documents of the clients, the Sebi said period of exclusion will be from 23rd March, 2020 till 31st December, 2020.
NSE issues FAQ on Peak Margin reporting of Marginable Custodian Participant trades in Capital Market Segment.
NSE has clarified that the responsibility of the Trading Member is to report peak margins for CP trades in the MG13 reporting considering collection of margins by the Custodian as the penalties shall be levied by the Clearing Corporation on the basis of reporting by Custodian.
NSE specifies position limits in futures and options to be effective from 1st December 2020
The Circular specifies the Market-Wise Position Limit (MWPL), Trading Member (TM) Position Limit, Category I and II of Foreign Institutional Investor (FII) or Foreign Portfolio Investor (FPI) and Mutual Fund Position Limits. This Circular was issued on 27th November 2020 and the said position limits will be reckoned with effect from the 1st of December 2020.
SEBI revises measures issued for orderly trading and settlement, effective risk management, price discovery and maintenance of market integrity
The regulatory measures are revised by SEBI on 25.11.2020 and shall continue to remain in force till further directions.