SEBI comprehensive framework for the administration and supervision of Research Analysts (RAs) and Investment Advisers (IAs)
SEBI has introduced a comprehensive framework for the administration and supervision of Research Analysts (RAs) and Investment Advisers (IAs). This move marks a significant step towards enhancing regulatory oversight and ensuring investor protection in the Indian securities market.
SEBI directions for facilitating collective oversight of distributors for Portfolio Management Services (PMS) through APMI
Portfolio Managers shall ensure that any person or entity engaged in the distribution of its services has obtained registration with APMI, in accordance with the criteria laid down by APMI. This circular shall come into effect from January 01, 2025.APMI shall issue the criteria for registration of distributors by July 01, 2024.
SEBI circular to Portfolio Managers for facilitating ease in digital on-boarding process for clients and enhancing transparency through disclosures
Effective from October 1, 2024, portfolio managers will also provide a fee calculation tool to clients, presenting various fee options with multi-year fee calculations. This tool, incorporating the high watermark principle where applicable, aims to enhance transparency regarding fee structures, empowering clients to make informed decisions.
Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2024
The amendment provides that with approval of SEBI, the activities of administration and supervision over specified intermediaries may be carried out by recognized stock exchange on such terms and conditions and to such an extent as may be specified.
SEBI amends the regulations governing research analysts and investment advisors
The Board may specify that no person shall act as an investment adviser unless such a person is enlisted with the recognized body or body corporate and in such an event, the provisions of these regulations and the specified provisions of the bye-laws or articles of such a body or body corporate shall apply to the investment adviser.
Alternative Investment Funds (AIF) Regulations Amendment 2024
Prior to initiating the dissolution period, the AIF must intimate SEBI about obtaining investor consent. If the bid is successful, dissenting investors are offered an exit option, ensuring fairness in the process. Conversely, if the bid falls short, the AIF can still opt for the dissolution period with the requisite investor consent.
SEBI has introduced amendments to the SEBI (AIF) Regulations for providing greater flexibility to Category I and II Alternative Investment Funds (AIFs)
The amendments, notified on April 25, 2024, aim to streamline the process for AIFs to create encumbrance on equity, primarily for investee companies involved in infrastructure projects. This move is pivotal in promoting ease of doing business and enhancing the flexibility of AIF operations, thereby contributing to the overall growth of the alternative investment landscape in India.
SEBI relaxations for Large Value Alternate Investment Funds
Large Value Fund for Accredited Investors (LVFs) shall be exempted from the requirement of intimating any changes in the terms of PPM through a merchant banker.
SEBI turnover fee for Cash, Derivatives, Currency Derivatives, Commodity Derivatives, Interest Rate Derivatives, New Debt Segment, Repo Segment % EGR segment Turnover shall be subject to GST
The turnover fee along with applicable GST shall be debited to the respective settlement (valan) account/ Exchange dues account of Trading Members on the 3rd working day of the next month i.e., May 06, 2024.
NSE issues timeline for Cyber Security and Cyber Resilience audit
All Trading members are requested to take note that, for each non-compliance reported by the auditor, trading members are required to submit corrective action taken report by September 30, 2024.