Consultation paper on providing flexibility in provisions relating to ‘Trading Plans’ under the SEBI (Prohibition of Insider Trading) Regulations, 2015
The Working Group considered the disclosure of personal details of insiders in TP and explored alternatives. It recommends continuing the existing practice of disclosing personal details (Name, Designation, PAN) to stock exchanges, citing the need for informed decision-making and monitoring TP execution. However, to address privacy concerns, a novel alternative is proposed—making two separate disclosures: one with personal details to stock exchanges (confidential) and another without personal details to the public.
Proposals issued by SEBI meeting report
Any fresh investment made by an AIF, beyond September 2024, shall be held in dematerialized form.
Consultation Paper on Remote Broker-Dealers in IFSC
IFSCA has received various proposals from the Stock Exchanges to introduce new products, widen the investor base and deepen the liquidity on the Stock Exchanges. One such proposal pertains to permitting Broker-Dealers to operate remotely from foreign jurisdictions i.e. permit Broker-Dealers to transact on the Stock Exchanges without having a physical presence in IFSC. IFSCA, after due deliberations, has decided to consider this proposal of the Stock Exchange. This would require amendment to Regulation 5 (1) of the IFSCA (Capital Market Intermediaries) Regulations, 2021.
NSE Reminder for Submission of Half Yearly Internal Audit Report by Clearing Members for the half year ended September 30, 2023
Clearing Members are advised to submit the Internal Audit Report on or before November 30, 2023, to the email ID “internalaudit@nsccl.co.in” with the subject line as “Internal Audit Report- Name of the Clearing Member (Clearing Member Code) – September 2023, in the prescribed format and comply with the regulatory requirements to avoid any penalties/disciplinary actions for late/non-submission of the Internal Audit Report as prescribed.
BSE provides list of Top 1,000 companies as per SEBI PIT Regulations in terms of BSE Market Capitalization
Listed entities are required to designate one of the depositories as its designated depository and provide the information including PAN of Promoter(s), promoter group, director(s) and designated person(s) in the manner as specified by the depositories. Further, listed entities shall update their designated person list in the manner specified by the depositories on regular basis.
SEBI issues Simplified norms for processing investor’s service requests by RTAs and norms for furnishing PAN, KYC details and nomination
Based on representations received from the Registrars’ Association of India and feedback from investors, SEBI has decided to mitigate unintended challenges faced by Registrars to an issue(RTAs) on account of freezing of folios and referring frozen folios to the administering authority under the Benami Transactions (Prohibitions) Act, 1988 and/or Prevention of Money Laundering Act, 2002. Therefore, these penalties are hereby removed.
IFSCA FAQ on Registration of a Fund Management Entity (FME) and Authorization of a Scheme or Fund under IFSCA (Fund Management) Regulations, 2022
The financial documents required for the FME application include the previous three years’ consolidated/standalone audited financial statements. For newly incorporated entities, Income Tax Returns (ITRs) and acknowledgments can be submitted. The Net Worth Certificate, a crucial component, must not be older than six months and should meet the requirements specified by IFSCA.
IFSCA Framework for Aircraft Lease
IFSCA framework for entities to get registered under Finance Company Regulations as a ‘Finance Company’ or a ‘Finance Unit’ for undertaking aircraft lease transactions.
SEBI organizes India International Trade Fair (14-27 November 2023)
During the exhibition at ITPO, SEBI, MIIs and Industry Associations will be organising activities such as talk shows by market experts, skits, muppet shows and other live activities to spread investor education and awareness.
SEBI directs stock brokers to inform clients their standard Most Important Terms and Conditions (MITC)
The form, nature of communication, documentation and detailed standards for implementation of MITC shall be published on or before January 01, 2024, by the Brokers’ Industry Standards Forum(ISF), under the aegis of stock exchanges, in consultation with SEBI. In the event that the ISF is unable to publish the same, as above, in whole or in part, then SEBI, may, at its discretion, publish standards in respect of the same.
