SEBI directions to Investor Service Centres of Stock Exchanges
The provisions of this circular shall come into effect from the 90thday of issuance of this circular.
Comprehensive framework for shipping lease activities in International Financial Services Centers
To operate as a lessor in an IFSC, an applicant must meet certain eligibility criteria outlined in the Finance Company Regulations. The applicant can set up operations in the form of a Company, Limited Liability Partnership (LLP), Trust, or Branch as specified by the IFSCA. If the applicant is a company, the promoter must be located in a Financial Action Task Force compliant jurisdiction. The same requirement applies to partners or trustees in the case of LLPs or Trusts.
IFSCA directions for Co-location facility offered by the Stock Exchanges
To ensure fair and equitable co-location services, the circular mandates that stock exchanges must provide such services within the limits of available space, power, cooling, and other facilities. The regulations apply to three scenarios: data centers owned and managed by the stock exchange, data centers owned by the stock exchange and managed by a third party, and data centers owned and managed by a third party with an outsourcing or contractual arrangement with the stock exchange.
SEBI Master Circular for Issue of Capital and Disclosure Requirements
All circulars/directions issued under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018(“ICDR Regulations 2018”) are hereby replaced by the master circular.
SEBI revised timelines for Issuance of units of AIFs in dematerialized form
Schemes of AIFs with corpus ≥Rs 500 Crore shall ensure the Dematerialization of all the units issued latest by October 31, 2023 and Issuance of units shall be only in dematerialized form November 01, 2023. Schemes of AIFs with corpus < Rs 500 Crore shall ensure Dematerialization of all the units issued Latest by April 30, 2024 and Issuance of units only in dematerialized form from May 01, 2024 onwards.
Modalities for launching Liquidation Scheme and for distributing the investments of Alternative Investment Funds in-specie
During the liquidation period of an AIF’s original scheme, if the decision to launch a Liquidation Scheme is made, the AIF must obtain consent from at least 75% of investors based on the value of their investments in the original scheme. This ensures that a significant majority of investors are in agreement with the liquidation process.
Standardized approach to valuation of investment portfolio of Alternative Investment Fund
AIF securities covered under the SEBI (Mutual Funds) Regulations, 1996, the valuation process should align with the norms specified for mutual funds. For securities not covered under the aforementioned norms, AIFs should follow the valuation guidelines endorsed by an AIF industry association representing at least 33% of SEBI registered AIFs.
IFSCA clarification regarding Direct Market Access (DMA) facility
Direct Market Access (DMA) is a facility which allows Broker-Dealers to offer their clients direct access to the trading system of the Stock Exchange, through the Broker-Dealer’s trading systems, without any manual intervention by the Broker-Dealer.
Master Circular on Scheme of Arrangement
All listed entities shall ensure that all dues to, and/or fines/penalties imposed by SEBI, Stock Exchanges and the Depositories have been paid/settled before filing the draft scheme with the designated stock exchange.
NSE Reminder for Submission of Cyber Security and Cyber Resilience Audit Report
The submission of Cyber Security & Cyber Resilience Audit Report is mandatory for all active Members of the Exchange. Submission is to be made electronically through ENIT Member Portal on or before due date, to avoid any penal/disciplinary action.
