BSE implements SEBI (Prohibition of Insider Trading) Regulations, 2015 – Framework for restricting trading by Designated Persons by freezing PAN at security level
All listed companies shall declare financial results on March 31, 2024 and trading window shall close on April 1, 2024.
CRA’s directed to issue list of non-cooperative issuers
Credit rating agencies to disclose two lists of issuers who are non-cooperative with the CRA, separately for- Securities that are listed, or proposed to be listed, on a recognized stock exchange, and; Other ratings.
SEBI provides facility for securities market participants to remit fees payable to SEBI online
While making the remittances online, entities shall furnish the requisite information like name, email ID, mobile number, address, PAN, nature of fee, GST details (if applicable), etc. The above facility is for any entities other than registered intermediaries requiring to make payment to SEBI. SEBI registered intermediaries and applicants for fresh registration will continue to remit fees (Application Fee, Registration Fee, Renewal Fee, Filing Fee, etc.,) through SEBI Intermediaries Portal i.e., siportal.sebi.gov.in.
Amendment to Securities and Exchange Board of India (Informal Guidance) Scheme 2003
The amendment provides that a request for informal guidance shall be accompanied with a fee of Rs. 25,000 by way of direct credit into the bank account of the Board through NEFT/RTGS/IMPS or online payment using the SEBI payment gateway or any other mode as may be specified by SEBI from time to time.
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.
