Master Circular for Portfolio Managers
With a view to ensuring that all Rules, Regulations, Guidelines, Notifications etc. issued by SEBI, the Government of India and other regulatory authorities are complied with, the Portfolio Manager shall designate a senior officer as compliance Officer, who shall co-ordinate with regulatory authorities in various matters and provide necessary guidance as also ensure compliance internally.
SEBI’s New Directive on Direct Pay-out of Securities
The Securities and Exchange Board of India (SEBI) issued a circular aimed at improving the operational efficiency and reducing risks associated with the pay-out of securities in the Indian financial markets. This circular mandates the direct pay-out of securities to clients’ demat accounts, replacing the current system where securities are pooled by brokers before being credited to clients.
SEBI’s New Disclosure Guidelines for Foreign Portfolio Investors
While the new regulations promote transparency, they also impose additional compliance requirements on FPIs. The need to report Type I changes within a strict seven-day window necessitates robust internal monitoring and reporting mechanisms. FPIs will need to enhance their compliance frameworks to ensure timely and accurate disclosures.
SEBI draft circular on “Facility for Basic Services Demat Account (BSDA)”
The comments/ suggestions should be submitted latest by June 26, 2024.
SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2024
This move, encapsulated in the SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2024, aims to refine the regulatory landscape for FPIs operating in India. These changes are geared towards enhancing compliance, simplifying regulatory procedures, and ensuring a more streamlined process for foreign investors.
Master Circular for Bankers to an Issue
In respect of the registration applications pursuant to transfer of business (SEBI regulated business activity) from one legal entity, which is a SEBI registered Intermediary (transferor), to other legal entity (transferee), it is clarified that the transferee shall obtain fresh registration from SEBI in the same capacity before the transfer of business if it is not registered with SEBI in the same capacity.
Timelines for disclosures by Social Enterprises on Social Stock Exchange (“SSE”) for FY 2023-24
Social Enterprises which has registered or raised funds through SSE shall be required to submit Annual Impact Report to SSE by 31st October, 2024 for the Financial Year 2023-24.
SEBI has enlisted Self Regulatory Organizations for Social Impact Assessors in the context of Social Stock Exchange
ICMAI SAO & ICSI ISA ARE are specified as Self Regulatory Organizations for Social Impact Assessors in the context of Social Stock Exchange.
SEBI revises eligibility criteria for launching Options with Commodity Futures as underlying by Stock Exchanges having commodity derivative segments
It is decided that for launching Options contracts on agricultural and agri-processed commodities, the average daily turnover of underlying futures contracts of the corresponding commodity during the previous twelve months shall be INR 100 crore instead of existing INR 200 crore.
SEBI Standard Operating Procedure for handling of Stock Exchange outage and extension of trading hours thereof in Commodity Derivatives segment
The affected stock exchange shall update about the ongoing outage in the time intervals of 45 minutes from the initial intimation, until normalcy to operations is restored. Extension of trading hours, if applicable, shall be mentioned in the intimation by the affected stock exchange.
