SEBI notifies framework for operationalizing gold exchange in India.
New and existing recognized stock exchanges may launch and deal in EGRs, in a new segment. The transaction in a gold exchange has been divided into three parts- creation of EGR, Trading of EGR on stock exchange/s and conversion of EGR into Physical Gold.
Ship lease shall qualify as financial product under IFSCA Act
It is clarified that ‘ship lease’ which shall include operating lease, and hybrid of operating and financial lease, of a ship or ocean vessel, engines of ship or ocean vessel, or any other part thereof, as a financial product.
SEBI issues circular on disclosure obligations of listed entities in relation to Related Party Transactions.
Regulation 23 of the LODR Regulations on related party transactions was amended, inter-alia, mandating listed entities that have listed specified securities to submit to the stock exchanges disclosure of Related Party Transactions (RPTs) in the format specified by the Board from time to time.
NSE launches Digital Portal for filings
In the initial phase, announcements submitted to the Exchange and disclosures submitted under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 would be filed through digital portal.
SEBI issues circular to increase awareness regarding online mechanisms for investor grievance redressal.
All Recognized Stock Exchanges including Commodity Derivatives Exchanges/ Depositories / Clearing Corporations are advised to Make necessary amendments to the relevant bye-laws, rules and regulations and Communicate to SEBI, the status of the implementation of the provisions of this circular through the Monthly Development Report(MDR).
The International Financial Services Centres Authority (Registration of Insurance Business) (Amendment) Regulations, 2021
An applicant for Registration of Insurance Business shall provide a certificate from a practicing Chartered Accountant in India, a practicing Company Secretary in India, a practicing Cost Accountant in India or any other person with appropriate qualification, as specified by the Authority, certifying that all the requirements of the Act have been complied with by the Applicant.
NSE clarification regarding Submission of data towards monitoring of client funds under Enhanced Supervision guidelines
It is reiterated that Members shall not invest client funds received by the members in the client bank accounts in any Liquid Mutual Funds, Gilt Funds, Government Securities or any other liquid funds.
SEBI clarifies timeline to submit NOC from the lending institutions for scheme of arrangement
NOC from the lending scheduled commercial banks/ financial institutions/ debenture trustee shall be submitted before the receipt of the No objection letter from stock exchange for scheme of arrangement in terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Modified exercise mechanism for options on Commodity Futures
All In the money (ITM) option contracts shall be exercised automatically, unless ‘contrary instruction’ has been given by long position holders of such contracts for not doing so. All Out of the money (OTM) option contracts shall expire worthless.
Securities and Exchange Board of India (Vault Managers) Regulations, 2021
As per the regulation, any person intending to carry on the business as a Vault Manager on or after the commencement of these regulations shall make an application to the Board for grant of a certificate of registration.
