SEBI modifies the cyber security and cyber resilience framework for brokers/depository participants.
As per the new modification, all Cyber-attacks, threats, cyber-incidents and breaches experienced by Stock Brokers / Depositories Participants shall be reported to Stock Exchanges / Depositories & SEBI within 6 hours of noticing / detecting such incidents or being brought to notice about such incidents.
SEBI clarification regarding adjustment in derivative contracts for dividend announcements
It has been decided that the adjustment in derivative contracts shall be carried out in cases where dividends declared are at or above 2% of the market value of underlying stock.
SEBI notifies guidelines for large value for Accredited Investors under SEBI (Alternative Investment Funds) Regulations, 2012.
Pursuant to the introduction of framework for “Accredited Investors” in the securities market, SEBI (Alternative Investment Funds) Regulations, 2012 have been amended to provide certain relaxations from regulatory requirements to ‘Large Value Fund for Accredited Investors’ (LVF)
SEBI extends the timeline for validation of KYC records by KRA.
As per clause 9 of SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011. The KYC records of all existing clients (who have used Aadhaar as an officially valid document (OVD) shall be validated within a period of 180 days from August 01, 2022. and for those clients who have completed KYC using non-Aadhaar OVD, their records will be validated only after they have given their Aadhaar number.
Reduced the timelines for listing of units of privately placed Infrastructure Investment Trust (InvIT)
As a part of the continuing endeavor to streamline the process of allotment and listing of units, it has been decided to reduce the time taken for allotment and listing of units of privately placed Infrastructure Investment Trust (InvIT), after the closure of issue to six working days as against the present requirement of thirty working days.
SEBI Introduces UPI mechanism for individual investments in REITs and InvITs.
An investor may apply for public issue of units of REIT/InvIT through Self-Certified Syndicate Bank (SCSB) or intermediaries (viz. Syndicate members, Registered Stock Brokers, Registrar and Transfer agent and Depository Participants).
SEBI amends Operational Guidelines for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors
In order to facilitate faster confirmation of remittances by the intermediaries, necessary arrangement has been made for foreign inward remittances in ICICI Bank account in Bandra Kurla Complex, Bandra (East).
SEBI clarification regarding demat accounts maintained by stock brokers
All demat accounts of stock brokers which are untagged need to be appropriately tagged by June 30, 2022
Resident individuals are not permitted to transact/invest in BDR on IIBX through the LRS route
In this regard, it has been clarified that, resident individuals, as referred to in the RBI circular on LRS dated February 16, 2021, are not permitted to transact/invest in BDR on IIBX through the LRS route.
SEBI clarification on nomination of mutual fund holders
AMCs to provide an option to the unit holder(s) to submit either the nomination form or the declaration form for opting out of nomination in physical or online as per the choice of the unit holder(s).
