SEBI issues framework for outsourcing activities of limited purpose clearing corporation.
The LPCC shall enter into necessary agreements with the Stock Exchanges where it proposes to offer clearing /settlement of repo transactions and their associated Clearing Corporations for continuity purposes.
SEBI issues Circular on Enhancement of Overseas Investment limits for Mutual Funds.
A mutual fund launching a new scheme intending to invest overseas will be required to specify the amount it will invest outside India and use the limit specified within 6 months.
SEBI issues guidelines for rights issue by unlisted InvITs to raise funds.
As per the guidelines, no infrastructure investment trusts shall make a rights issue of units unless, a resolution of the board of directors of the investment manager approving the rights issue of units and determining the record date has been passed and Units of the same class, which are proposed to be allotted are already issued by the InvIT.
Sebi issues framework on ”due diligence” for debenture trustees.
The debenture trustee shall maintain records and documents pertaining to due diligence exercised for a minimum period of five years from the redemption of the debt securities.
SEBI amends Schemes of Arrangement by Listed Entities.
SEBI shall issue a Comment letter upon receipt of ‘‘No-Objection’ letter from Stock Exchanges having nationwide trading terminals. In other cases, SEBI shall issue Comment letter upon receipt of ‘‘No-Objection’ letter from the Designated Stock Exchange.
SEBI extends the Settlement Scheme 2020.
The competent authority has approved the extension of the period of the scheme till 31st December 2020.
NSE extends the timeline to submit Internal Risk Assessment of Registered Intermediaries.
The submission should mandatorily be made electronically through the new module named- ‘Internal Risk Assessment under “ENITCOMPLIANCE-NEW” service Menu for members to make their submission and no physical copies shall be submitted.
Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations
The Chief Executive Officer of Asset Management Companies is directed to ensure that the Code of Conduct for Fund Managers and Dealers specified in PART – B of the Fifth Schedule of these regulations are adhered to in letter and spirit. Any breach of the said Code of Conduct shall be brought to the attention of the Board of Directors of the Asset Management Company and Trustees.
SEBI brings in new framework for recovery expenses fund
The issuers of listed or proposed to be listed debt securities would have to deposit 0.01% of the issue size or maximum of Rs 25 lakh towards creation of recovery expense fund.
Regulatory measures introduced by SEBI to continue till 26th November 2020.
To cut excessive speculation in stock futures and options, Sebi had cut the market wide positions limits (MWPL) in these contracts to 50 percent in a phased manner.
