Payment of GST on SEBI turnover fee for Cash, Derivatives, Currency Derivatives, Commodity Derivatives, Interest Rate Derivatives, New Debt Segment, and Repo Segment Turnover
The turnover fee along with applicable GST will be debited to the respective settlement (valan) account of Trading Members on the 3rd working day of the next month i.e., December 05, 2022. The turnover across segments and the amount to be debited towards the turnover fees including GST at the rate of 18%, will be made available in EXTRANET (current date > EQ > Transaction) on December 01, 2022.
SEBI measures to increase efficacy in the listing process and to expedite the availability of securities for trading by the investors
The timeline for listing is being reduced from T+4 to T+3 days (wherein T refers to issue closure date).
SEBI introduces mechanism of Net Settlement of cash segment and F&O segment upon expiry of stock derivatives.
The obligations arising out of cash segment settlement and physical settlement of F&O segment, upon expiry of stock derivatives, shall be settled on net basis as against the current approach of settling such obligations separately.
SEBI introduces credit risk based single issuer limits for debt ETFs/ Index Funds
A mutual fund scheme shall not invest more than: a. 10% of its NAV in debt and money market securities rated AAA; or 8% of its NAV in debt and money market securities rated AA; or 6% of its NAV in debt and money market securities rated A and below issued by a single issuer.
SEBI notifies procedure for seeking prior approval for change in control.
The prior approval granted by SEBI shall be valid for a period of six months from the date of such approval within which the applicant shall file application for fresh registration pursuant to change in control.
Clarification regarding reporting of trades in non-convertible securities under SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021
The reporting of OTC trades in non-convertible securities shall be made by all person(s) dealing in such securities irrespective of whether they are SEBI registered intermediaries or otherwise.
SEBI extends the timelines for implementation of prior SEBI directions on demat accounts of trading members
The Securities and Exchange Board of India on 19th September 2022, notified a new framework on Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations. The provisions of the same were to come into effect from November 25, 2022. The date of commencement is hereby extended to January 27, 2023.
SEBI notifies timeline for transfer of dividend and redemption proceeds to unitholders.
The Interest for the period of delay in transfer of redemption or repurchase or dividend shall be payable to unitholders at the rate of 15% per annum along with the proceeds of redemption or repurchase or dividend, as the case may be. Such Interest shall be borne by AMCs.
SEBI notifies Framework to address the ‘technical glitches’ in Stock Brokers’ Electronic Trading Systems.
All technical glitches reported by stock brokers as well as independently monitored by stock exchanges, shall be examined collectively by the stock exchanges along with the report/RCA and appropriate action shall be taken.
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2022
The issuer shall also file the pre-filed draft offer document with the stock exchange(s) where the specified securities are proposed to be listed and submit to the stock exchange(s); the Permanent Account Number, bank account number and passport number of its promoters where they are individuals and the Permanent Account Number, bank account number, company registration number or equivalent and the address of the Registrar of Companies with which the promoter is registered; where the promoter is a body corporate.
