Sebi directs MIIs to adopt uniform policy on data sharing for research

The market regulator Securities and Exchange Board of India (Sebi) on Friday directed stock exchanges, clearing corporations, and depositories to adopt a uniform policy for sharing data meant for research and research publications undertaken by accredited academic institutions.

 

These market infrastructure institutions (MIIs) have been asked to segregate such data into two baskets—one that can be shared with the public and the second that cannot be made public.

 

The first basket will include only aggregate and analysed data, such as reporting and disclosure data mandated by regulators. Sebi stated that the segregation is intended to prevent the disclosure of any personal, sensitive, or confidential information in the public domain.

 

The second basket includes know-your-customer (KYC) information, trade logs, and holding details of an entity or individual, along with the identity of the entity or individual. Further, even anonymised data that could potentially identify the individual or entity will not be shared in the public domain.

 

For instance, currently anonymised data is available for certain segments, such as client-wise position or margin data and details on approved hedgers. These will not be available going forward. Any collateral or bank-wise collateral information present with the clearing corporations will also fall under the second basket.

 

The MIIs have been directed to share the list of data under each basket with Sebi for approval within two months.

 

However, data shared with vendors for commercial purposes will not fall under this policy.   

NFO norms tweaked to safeguard early bird advantage

 

Sebi announced that mutual funds (MFs) will now have to make the draft scheme information docum­ent (SID) available for public comm­ents for just eight days as opp­osed to 21 days before. “It has been observed that once a draft SID proposing a new product is uploaded on the Sebi website, other AMCs tend to follow suit. At times, this results in a situation where the NFO of an AMC that followed suit precedes the NFO of AMC that conceived the idea, causing the latter to lose first-mover adv­a­ntage,” Sebi said.

 

Kalyani Investments settles matter with Sebi for Rs 1.11 crore 

 

Investment holding company Kalyani Investments has settled a matter with the Securities and Exchange Board of India (Sebi) for alleged violations of listing and disclosure requirements by paying Rs 1.11 crore. The market regulator had issued a show-cause notice to the firm in March 2024 for allegedly failing to obtain prior approval from the audit committee for certain related party transactions (RPTs) and for failing to disclose a summary of some RPTs. The company filed for settlement in April without admitting or denying the allegations. A high-powered advisory committee of Sebi recommended the settlement amount, which was later approved by a panel of whole-time members.