SEBI issues framework for processing of an application for registration of AIFs.
The applications wherein Investment Committee proposed to be constituted to approve investment decisions of AIF includes external members who are ‘resident Indian citizens’, shall be duly processed.
SEBI Constitutes “Market Data Advisory Committee”
SEBI has also introduced a Data Sharing Policy to facilitate access to Data from SEBI to meet a variety of requirements, viz. to undertake Analytics projects, Research activities, etc. by various educational/research institutions and other regulators.
The Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2020
The amendment prescribes the qualifications to the key investment team of the Manager of Alternative Investment Fund. The amendment also provides for constitution of an investment committee.
The Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Second Amendment) Regulations, 2020.
Regulation 4 deals with the Prohibition of manipulative, fraudulent and unfair trade practices in which no person shall indulge in a fraudulent or an unfair trade practice in securities.
SEBI issues guidelines for utilisation of fund created for farmers.
Farmers/FPOs can reimburse the charges incurred towards assaying, cleaning,drying, sorting, storage and transportation in respect of goods deposited in warehouses accredited with Clearing Corporations with an intention to deliver them on Exchange Platform for which exchange specific eNWR is generated.
NSE issues timeline for settlement of Mutual Fund Schemes in EQTCR Category
Participants are requested to note that settlement type for the “EQTCR” category shall be ‘S’ and settlement of funds shall be on T day and settlement of units on T+1 day.
Sebi cautions investors against unsolicited investment tips.
SEBI has advised investors not to rely on unsolicited stock tips/investment advice that are circulated through bulk SMS, websites and social media platforms and the investors shall exercise appropriate due diligence before dealing in the securities market.
SEBI issues standardized procedure to be followed by Debenture Trustee(s)in case of ‘Default’ by Issuers of listed debt securities
The Debenture Trustee(s) shall send a notice to the investors within 3 days of the event of default by Issuers of listed debt securities through registered post/acknowledgement due or speed post/acknowledgement due or courier or hand delivery with proof of delivery as also through email as a text or as an attachment to email with a notification including a read receipt.
SEBI 3rd Amendment to Listing Obligation and Disclosure Requirements
The 3rd Amendment to SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 [‘SEBI LODR’] was notified on 08th October 2020 after decisions were taken in the SEBI Board Meeting held on 29 September 2020. Now listed entities can have 100% asset cover as per terms of offer document so long as it is sufficient to discharge principal amount. Exemption to Regulated entity from maintaining asset cover has been removed. In addition, one more disclosure is now mandatorily to be made to Debenture Trustees.
SEBI Debenture Trustee Amendment Regulation, 2020
The Amendment to Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 [‘SEBI DT’] was notified on 08 October 2020 to strengthen the role of Debenture Trustees [‘DT’]. The DT(s) shall now exercise independent due diligence of the assets on which charge is being created. DT(s) shall also carry out continuous monitoring of the asset cover including obtaining mandatory certificate from the statutory auditor on half yearly basis. DTs duties modified to ensure listed entity creates a debt recovery expense fund to be utilised in case of default.
