Clarification regarding Graded Surveillance Measure for securities listed in the BSE
Trading members are requested to note that the securities shall be moved to their respective higher stages of GSM with effect from August 22, 2023 and shall attract following surveillance actions as per the provisions of GSM Framework published on February 23, 2017.
Securities and Exchange Board of India (Facilitation of Grievance Redressal Mechanism) (Amendment) Regulations, 2023
SEBI shall recognize a body corporate for handling and monitoring the process of grievance redressal by the entities operating in the securities market.
Securities and Exchange Board of India (Real Estate Investment Trusts) (Second Amendment) Regulations, 2023
The provisions now allow unitholders of REITs holding at least ten percent of the total outstanding units to nominate a director on the board of directors of the Manager. This emphasizes the principle of shared governance and ensures that significant stakeholders have a say in the decision-making process.
SEBI has provided for simplification of KYC & Risk Management Framework at KYC Registration Agencies
The records of those clients in respect of which all attributes are verified by KRAs with official databases (such as Income Tax Department data base on PAN, Aadhaar XML/Digilocker/ M-Aadhaar)shall be considered as Validated Records.
NSE clarification regarding Smart ODR
NSE has issued a common online dispute resolution portal (ODR), called the Smart ODR, which has gone live on August 4, according to an exchange notice from the market regulator SEBI.
BSE has reduced timeline for listing of shares in Public Issue from existing T+6 days to T+3 days
The T+3 timeline for listing shall be appropriately disclosed in the Offer Documents of public issues.
SEBI directs depositories to constitute a committee to facilitate the reversal of erroneous transfers in demat accounts
The depositories shall place before the committee all such instances of erroneous transfers pending for reversal. The committee shall examine such erroneous transfers and provide an opportunity of hearing to both the parties in the interest of principles of natural justice. The committee shall, based on the documentary evidence and the hearing, take a decision on the basis of reasons to be recorded in writing. Depositories shall subsequently act based on the decision of the committee and shall send an email to the registered email ID of the transferee, informing about the decision of the committee.
FAQs on SEBI Registered Investment Advisers
The FAQ clarifies that IAs are required to conduct annual audit in respect of compliance of the IA Regulations and circulars issued thereunder. The audit is required to be completed within six months from the end of each financial year. The adverse findings of the audit, if any, along with action taken thereof duly approved by the individual IA/ management of non-individual IA, is required to be reported to SEBI within a period of one month from the date of the audit report but not later than October 31st of each year for the previous financial year.
Consultation Paper on collating and defining use cases of Financial Information Users in the Account Aggregator Framework in Securities Markets
Comments may be sent to the following, latest by August 31, 2023 (within 30 days from date of publication of this consultation paper on SEBI website) through email or post.
SEBI circular on Audit of firm-level performance data of Portfolio Managers
Portfolio Managers shall submit the confirmation of compliance with the requirement of annual audit of firm-level performance data in line with the standard ToR specified by APMI, to SEBI within sixty days from the end of each financial year.
