SEBI revises list of Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUA
SEBI has declared 360 ONE Distribution Services Limited as an entity allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUA.
SEBI Master Circular for Alternative Investment Funds
In addition to the requirements specified under this Master Circular, the AIFs shall be required to independently comply with the other requirements specified by SEBI for market intermediaries such as the ‘Levy of Goods & Services Tax (GST) on the fees payable to SEBI’, ‘Approach to securities market data access and terms of usage of data provided by data sources in Indian securities market’, ‘Digital mode of payment’, ‘Information regarding Grievance Redressal Mechanism’ and ‘Guidelines on Outsourcing of Activities by Intermediaries’, etc.
Master Circular for Registrars to an Issue and Share Transfer Agents
SEBI has issued a Master Circular for Registrars to an Issue and Share Transfer Agents. With a view to ensuring that all Rules, Regulations, Guidelines, Notifications etc. issued by SEBI, the Government of India, and other regulatory organizations are compiled with, it is mandated that the RTI shall designate a senior officer as Compliance Officer, who shall coordinate with regulatory authorities in various matters and provide necessary guidance as also ensure compliance internally.
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.
