Master Circular for Online Resolution of Disputes in the Indian Securities Market
A complaint/dispute initiated through the ODR Portal will be referred to an ODR Institution empaneled by a MII and the allocation system on a market-wide basis will be a round-robin system to govern the allocation of each such dispute among all such empaneled ODR Institution/s subject that for an initial period
Consultation Paper on Amendments to SEBI Regulations with respect to Verification of Market Rumors
The comments or suggestions, along with rationale, may be submitted by any of the following modes latest by January 18, 2024, preferably through online mode at the following or alternately, by email to consultationcfd@sebi.gov.in.
IFSCA constitutes Expert Committee on Transition Finance
Taking into consideration the critical need for transition finance, the development of such financing instruments being at a nascent stage, and lack of globally recognized framework as in the case of green/sustainable labelled debt securities, IFSCA has formed an expert committee on Transition Finance consisting of representation from industry, standard setters, consultants, think tanks etc. to recommend a regulatory framework for transition finance instruments and measures to promote transition finance through GIFT IFSC.
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2023
The amendment provides that the public issuance of Zero Coupon Zero Principal Instruments by a Not for Profit Organization shall be as per procedure and other conditions specified by the Securities and Exchange Board.
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Seventh Amendment) Regulations, 2023
The amendment provides that a Social Enterprise, which is either registered with or has raised funds through a Social Stock Exchange or a Stock Exchange, as the case may be, shall be required to submit an annual impact report to the Social Stock Exchange or the Stock Exchange in the format specified by the Board from time to time. The annual impact report shall be assessed by a Social Impact Assessment Firm employing Social Impact Assessor(s).
Business Continuity for Clearing Corporations through Software as a Service (SaaS) Model
Each CC shall design a system to run its RMS related operations, to risk manage trades for its clearing members, using the Risk Management Systems related software components of another CC. This instance would be called SaaS-RMS. For instance, when NCL designs SaaS-RMS using software of ICCL, NCL would be considered as client CC and ICCL would be considered as service provider CC.
Revised process for Online Resolution of Disputes in the Indian Securities Market
SEBI has issued revised process for Online Resolution of Disputes in the Indian Securities Market. The seat and venue of mediation, conciliation and/or arbitration shall be in India and can be conducted online. The fees, charges and costs for the independent mediation institution or independent conciliation institution and/or independent arbitration institution (and of the mediators/conciliators/arbitrators), and other applicable costs, charges and expenses may be as prescribed by such institution/s or as agreed upon by the parties with such institution/s.
SEBI revises principles of Financial Market Infrastructures
SEBI has issued Principles of Financial Market Infrastructures (PFMIs). The Principles apply to systematically important FMI entities such as Central Counterparty (CCP), Central Securities Depository (CSD)/ Securities Settlement System (SSS), Payment and Settlement Systems (PSS) and Trade Repository (TR) which are responsible for providing clearing, settlement and recording of monetary and other financial transactions.
SEBI simplifies requirements for grant of accreditation to investors
The validity period of the accreditation certificate has been revised as under: If the applicant meets the eligibility criteria for preceding one financial year, the accreditation certificate issued shall be valid for a period of two years from the date of issuance.(earlier the accreditation was valid for one year). If the applicant meets the eligibility criteria in each of the preceding two financial years, the accreditation certificate issued shall be valid for a period of three years from the date of issuance (earlier the accreditation was valid for maximum two years).
Consultation paper on ‘Introduction of optional T+0 and optional Instant Settlement of Trades in addition to T+1 Settlement Cycle in Indian Securities Markets’
Comments/suggestions may be sent by email to Shri Suman Kumar, Assistant General Manager (e-mail id:sumank@sebi.gov.in),Shri Dhanush Kumar Reddy, Manager(e-mail id: dhanushs@sebi.gov.in)and mrd_pod3@sebi.gov.inlatest by January 12, 2024.
