SEBI grants relaxation from default recognition due to the restructuring of debt.
SEBI extended the relaxation given for default recognition on account of restructuring of debt, till 31st December 2020.
SEBI extends the timeline for implementation of circular on grievances against proxy advisors.
the circular issued on 4th August was scheduled to come into effect from 1st September but the regulator has further extended the timeline for its implementation by four months to January 1, 2021.
SEBI extends the timeline for the implementation of procedural guidelines for proxy advisors.
SEBI has also made it mandatory for the proxy advisors to share their reports with their clients and the company at the same time, among other requirements.
SEBI has amended the guidelines on the execution of Power of Attorney by the client favoring Stock Broker/Stock Broker and Depository Participant.
SEBI through this amendment has reiterated that the Power of Attorney shall be optional for the opening of client account by stockbrokers or depository participants.
Regulatory Measures introduced by SEBI shall be in force till 24th September 2020.
Sebi also tweaked the requirement of flexible price bands and one condition to relax the price band is that a minimum of 25 trades should be executed with five different unique client code on each side of the trade at, or above, 9.9%.
SEBI revises IFSC Guidelines on Financial Reporting.
As per the amendment, the entities listing their debt securities in IFSC shall prepare their statement of accounts in accordance with IFRS/ US GAAP/ IND AS or accounting standards as applicable to them in their place of incorporation.
SEBI revises IFSC guidelines on financial reporting.
Under the revised guidelines, Sebi has stated that an entity based in India or in a foreign jurisdiction may provide financial services in IFSC, subject to compliance with the applicable regulatory framework.
SEBI clarifies the requisite period of preservation of records by Depositories and Depository Participants
The clarification was necessitated as the SEBI Circular dated December 9, 2009, requires Depositories and Depository Participants to preserve records and documents for a minimum period of five years. However, the provisions of the SEBI (Depositories and Participants) Regulations, 2018, requires Depositories and Depository Participants to preserve records and documents for a minimum period of eight years. In order to rectify the anomaly, changes have been made both, to the Master Circular for Depositories dated 25th October 2019 and SEBI Circular dated 9th December 2009. These changes now elucidate explicitly that Depositories and Depository Participants must maintain records and documents for a minimum period of eight years.
SEBI lays down the procedure for handling complaints by stock exchanges against listed companies for failure to redress investor grievances.
The stock exchanges shall levy a fine of ₹1,000 per day per complaint on the listed entity for failure to redress investor complaints within stipulated time and fines shall also be levied on companies which are suspended from trading.
Trustees of Mutual Funds shall appoint a dedicated officer for administrative assistance
The trustees shall appoint a dedicated officer having professional qualification and minimum 5 years of experience in finance and financial services related field. Trustees shall have standing arrangements with independent firms for special purpose audit and/or to seek legal advice
