SEBI proposals for Strengthening focus and governance mechanisms in Market Infrastructure Institutions (MIIs)
MII shall give higher priority to the resource allocation towards the functions which are classified as critical or under compliance requirements.
SEBI Consultation Paper on strengthening the Investor Grievance Redressal Mechanism in the Indian Securities Market by harnessing Online Dispute Resolution mechanisms
The comments may be submitted till January 09, 2022.
BSE clarification on the SEBI circular on Scheme(s) of Arrangement by entities who have listed their Non-convertible Debt securities (NCDs)/ Non-convertible Redeemable Preference shares (NCRPS)
The Listed Entity shall submit their revert to queries (if any) raised by the Stock Exchange w.r.t NOC for scheme of arrangement within 7 working days of the query being raised, to enable adherence to the requirement of a “maximum number of days for providing the ‘No-Objection’ Letter to SEBI shall not exceed thirty days from the date of receipt of the draft scheme of arrangement”.
Standard Operating Procedure (SOP) for Scheme of Arrangements seeking the Stock Exchange’s NOC
The Scheme of Arrangement seeking the Stock Exchange’s NOC must be submitted to the Exchange along with all the documents as per the Exchange Checklist within 15 working days of the board meeting approving the draft scheme of arrangement.
IFSCA directions for the distribution of capital market products and services
Every registered distributor and its employees shall abide by the code of conduct as specified in Schedule III of the International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2021. and Annexure I of this circular.
Clarification regarding Master Circular for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors
The Master Circular which supersedes the earlier circulars was issued on November 05, 2019 and prior circulars were rescinded, without retrospective effect.
Clarification on Enhanced guidelines for debenture trustees and listed issuer companies on security creation and initial due diligence
It is clarified that a change in underlying security; creation of additional security; or creation of security in case of unsecured debt securities would not constitute a change in the structure of the non-convertible debt securities, provided there are no other changes to the terms/ nature of issue of the non-convertible debt securities like maturity date, coupon rate, face value, redemption schedule, nature of the non-convertible debt securities(secured/unsecured) etc.
Applicability of SEBI circular on Principles of Financial Market Infrastructures (PFMIs)to AMC Repo Clearing Limited
AMC Repo Clearing Limited was granted recognition as a Clearing Corporation for the purpose of clearing and settling transactions in repo and reverse repo in the debt securities that are dealt with or traded on a recognized stock exchange.
Framework for Orderly Winding Down of Critical Operations and Services of a Clearing Corporation
The CCs shall have the policy framework containing the SOP duly approved by their governing boards and make it available on their websites within 90 days from the date of issuance of this circular.
New directions regarding Performance Benchmarking and Reporting of Performance by Portfolio Managers
An investment approach (‘IA’) is the documented investment philosophy to be adopted by the Portfolio Managers while managing the client funds in order to achieve client’s investment objectives. Now, in addition to IA, an additional layer of broadly defined investment themes called “Strategies” shall be adopted by Portfolio Managers.
