SEBI relaxation for FPIs having more than 50% of its Indian equity AUM in a corporate group
SEBI has issued an amendment to Circular for mandating additional disclosures by FPIs that fulfil certain objective criteria. It has been decided that an FPI having more than 50% of its Indian equity AUM in a corporate group shall not be required to make the additional disclosures subject to compliance with certain conditions.
SEBI Master Circular to address concerns arising from unauthorized transfers of securities from Beneficial Owner (BO) accounts
To prevent fraud and safeguard the interests of investors with inactive or dormant accounts, the circular provides clear guidelines. An inactive or dormant account is defined as one where no transaction has occurred for a continuous period of 12 months. However, certain credits, such as those due to voluntary corporate actions, may not be considered as transactions for assessing dormancy.
SEBI clarification regarding Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUA
Department of Revenue, Ministry of Finance vide gazette notification dated July 13, 2022 has notified 155 entities. Ministry of Finance vide gazette notification dated Jan 30, 2023 has additional notified 39 entities. Gazette Notification dated March 14, 2024 has notified another 4 entities.
SEBI proposal on disclosures made in the DRHP and RHP of public issues
SEBI has proposed that the disclosures made in the DRHP and RHP of public issues shall also be made available in Audiovisual (AV)format by the issuer companies desiring to list on the main board. Further, the AV on the public issues will be in bilingual version i.e. English and Hindi and made available in public domain. It is expected that the AV will provide ease in understanding the salient features and also provide reference to various disclosures of the proposed public issue.
SEBI repeals circular(s) outlining procedure to deal with cases where securities are issued prior to April 01, 2014
Accordingly, all cases involving an offer or allotment of securities to more than the permissible number of investors in a financial year shall be dealt with in line with the provisions contained under the extant applicable laws.
SEBI framework of Qualified Stock Brokers (QSBs)
SEBI vide circular dated March 11, 2024, has expanded the framework of Qualified Stock Brokers (QSBs). The circular, which comes on the heels of previous mandates aimed at enhancing compliance and monitoring requirements, outlines a comprehensive approach to designate QSBs. Initially introduced in 2023, the concept of QSBs aimed to establish a tiered system based on specific parameters such as active clients, trading volumes, and margin obligations. However, recognizing the need for further fortification, SEBI has now broadened the criteria to include additional metrics like compliance score and grievance redressal score.
Simplification and streamlining of Offer Documents of Mutual Fund Schemes
To ensure uniform implementation of revised formats of Scheme Information Documents(SIDs), the scheduled updation of SID and KIM for half year ended March 31, 2024, may be carried out by Asset Management Companies by June 30, 2024.
NSE Advisory for Review of existing Non-Neat Frontend (NNF) products
Members are required to ensure that their applications are rigorously tested on regular basis in Mock/Simulation environment of the Exchange. The Software applications may be subjected to updates/changes over a period, for which members should register the newer/latest versions of NNF application by submitting relevant request to the Exchange as per captioned circular.
BSE cautions investors against fraudulent and fake social media handles
BSE cautions investors and the public at large against falling prey to such misleading social media handles/ entities and advises the investors/ public to verify the authenticity of social media handles claiming to be associated / to represent BSE. Investors/ public should only engage with BSE’s officially verified social media handles listed below for accurate and reliable information.
SEBI Extends timeline for submission of public comments on the consultation Paper on Consultation Paper to Revise and Revamp Nomination in Securities Market
It has been decided to extend the timeline for submission of comments to March 28, 2024.
