SEBI amends norms for determination of legitimate claims.
The Stock Exchanges shall ensure that once a member has been declared defaulter, the claim (s) shall be placed before the Member Core Settlement Guarantee Fund Committee (MCSGFC, the erstwhile Defaulters’ Committee) for sanction and ratification. MCSGFC’s advice w.r.t. legitimate claims shall be sent to the IPF Trust for disbursement of the amount immediately.
SEBI directs investment advisers not to deal with unregulated products.
SEBI has observed that certain registered investment advisers are engaging in unregulated activity by offering a platform for the purchase, sale, or trading of unregulated items, including digital gold.
SEBI amends investment grievance redressal system and arbitration mechanism.
Under the revised framework, SEBI has clarified that Forming of exclusive panel for appellate arbitration is not required and members can serve on both the panels. However, it is imperative for the exchanges to ensure that in the same matter, the members of arbitration panel are not considered for constituting the appellate arbitration panel if the matter goes to appeal.
SEBI clarifies Modalities for filing of placement memorandum through a Merchant Banker
While filing draft placement memorandum at the time of registration or prior to launch of new scheme on the SEBI intermediary portal, the due diligence certificate provided by the Merchant Banker shall also be submitted, along with other necessary documents.
BSE clarification regarding RPT disclosures by listed banking companies
BSE circular dated 06/09/2021 required listed companies to file RPT only in XBRL mode from the half year ended 30/09/2021. The listed banking companies are excluded from this requirement for the half year ended 30/09/2021.
NSE clarification regarding submission of data towards monitoring of client funds under Enhanced Supervision guidelines
Members are directed that any FDRs created out of the client funds received by the members should be only for the purpose of placing with clearing corporation/clearing members. Members are also directed not to 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.
Guidelines for reorganization of SEZ units, developers and co-developers
The details of jurisdictional officer, PAN and financial details of reorganization shall be furnished to CBDT by SEZ.
SEBI clarification regarding transmission of Securities to joint Holder(s)
RTAs are advised to comply with provisions of the Companies Act 2013 and transmit securities in favour of surviving Joint holder(s), in the event of demise of one or more joint holder(s), provided that there is nothing contrary to the same in the Article of Association of the company.
Sebi issues revised formats for issuers of non-convertible securities.
The formats would be applicable for limited review reports for quarterly standalone financial results for banks and NBFCs as well as entities other than banks and NBFCs.
SEBI introduces online mechanism for obtaining SCORES credentials for companies seeking to list securities on the stock exchange.
The companies are required to attach a declaration along with the online form on the letter head of the company signed by the compliance officer.
