Regulatory framework for the roles and responsibilities of trustees and the board of directors of asset management companies
Under the amended SEBI (Mutual Funds) Regulations, trustees are mandated to exercise due diligence on specific “core responsibilities.” These include ensuring fairness in fees and expenses charged by AMCs, reviewing AMC performance vis-à-vis peers or benchmarks, preventing mis-selling and increasing asset management integrity, mitigating conflicts of interest, avoiding unfair advantages for associates or group entities, addressing conflicts of interest, and preventing market abuse.
New regulatory framework for sponsors of mutual funds
SEBI circular provide alternative eligibility criteria for mutual fund sponsors and address various aspects related to the deployment of net worth, acquisition of an asset management company (AMC), pooled investment vehicles as sponsors, reduction of stake, disassociation of sponsors, and re-association of sponsors.
Amended guidelines for preferential issue and institutional placement of units by a listed InvITs
The amended guidelines provides that the institutional placement shall be made at a price not less than the average of the weekly high and low of the closing prices of the units of the same class quoted on the stock exchange during the two weeks preceding the relevant date.
Amended guidelines for preferential issue and institutional placement of units by a listed REIT
The amended guidelines provides that the institutional placement shall be made at a price not less than the average of the weekly high and low of the closing prices of the units of the same class quoted on the stock exchange during the two weeks preceding the relevant date.
Master Circular for Real Estate Investment Trusts
Master Circular for Real Estate Investment Trusts provides the modes through which an investor may apply for public issue of units of REITs.
Master Circular for Infrastructure Investment Trusts
Master Circular for Infrastructure Investment Trusts provides the revised modes through which an investor may apply for public issue of units of InvIT.
SEBI Master Circular for Debenture Trustees
As per the master circular, Debenture Trustee, by itself or through professionals appointed and compensated/ remunerated by the Debenture Trustee viz., practicing chartered accountant, practicing company secretary, registered valuer, or legal counsel shall independently carry out due diligence.
Securities and Exchange Board of India (Ombudsman) (Repeal) Regulations, 2023
On and from the commencement of these regulations, the Securities and Exchange Board of India (Ombudsman) Regulations, 2003 shall stand repealed.
Master Circular for Credit Rating Agencies
CRAs are advised to refrain from giving Indicative Ratings without having a written agreement in place. In case such Indicative Ratings are provided by the CRA, it shall be considered as aiding and abetting the Issuer in suppression of material information by the CRA which would be in contravention of Clause 12 of Code of Conduct of CRAs and may result in violation of the provisions of section 12A of the Securities and Exchange Board of India Act, 1992 and SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 by the CRA.
Consolidated Cybersecurity and Cyber Resilience Framework for SEBI Regulated Entities
Framework compliance reporting shall be done by REs to their respective authorities in the standardized formats notified by SEBI.
