Page 8 - Sebi

CareEdge group to scale up share for its non-rating business to 20%

The plan is to establish regional hubs to enhance local connections in the countries rated by CARE

Sebi looks to expand scope of unpublished price-sensitive information

To enhance transparency in market disclosures, Sebi is looking to broaden the scope of Unpublished Price Sensitive Information (UPSI) by including proposed fundraising activities, restructuring plans, and one-time bank settlements. In its consultation paper, Sebi has proposed that only agreements, including shareholder, joint venture and family settlement, that affect the management and control of the firm and are known to the firm should be considered price-sensitive and included in the illustrative list of events under the definition of UPSI. Additionally, key developments in corporate insolvency proceedings, such as initiation or approval of resolution plans by the tribunal, should be disclosed as potentially price-sensitive. If a forensic audit is launched or concluded for issues like fund misappropriation or financial misstatements, it should be disclosed as price-sensitive. The proposed changes to Sebi's definition of UPSI are aimed at increasing regulatory clarity and ...

Lokpal seeks Sebi chief Madhabi Puri Buch's response on Hindenburg charges

Anti-corruption ombudsman Lokpal on Friday sought SEBI chief Madhabi Puri Buch's "explanation" on complaints of impropriety and conflict of interest filed by a Lok Sabha member and two others on the basis of a report by US-based short-seller Hindenburg Research, according to an official order. The Lokpal, however, clarified its order is only a "procedural directive" and "not an expression of our opinion on any matter in issue, either way". Buch, the chairperson of capital markets regulator Securities and Exchange Board of India (SEBI), has been asked to submit her response within four weeks, according to the order. "...We deem it appropriate to call upon the named RPS (respondent public servant) to offer explanation qua the allegations made against her in the respective complainant and elaborated in the concerned explanatory affidavit," reads the order signed by Lokpal chairperson Justice A M Khanwilkar and five other members. "This opportunity is being afforded to the named RPS as

With benchmarks becoming harder to beat, avoid very high-cost funds

Portfolio construction begins with asset allocation, which depends on risk appetite and investment horizon

Proactively made all disclosures, recusals: Sebi WTM on Cong's charges

Narayan assured that he has made all necessary disclosures and followed recusal procedures to manage potential conflicts

Embassy Office Parks REIT appoints Ritwik Bhattacharjee as interim CEO

Embassy Office Parks REIT on Thursday appointed Ritwik Bhattacharjee as its interim Chief Executive Officer (CEO) with immediate effect, following Sebi's order to suspend its CEO Arvind Maiya. On Monday, Sebi ordered the suspension of Maiya as the CEO of the Embassy REIT manager firm Embassy Office Parks Management Services, and the appointment of an interim CEO with immediate effect. Ritwik has been associated with the REIT since its listing and was a founding member of the team that helped list Embassy REIT in 2019. He last held the position of Chief Investment Officer at Embassy REIT. Before joining Embassy REIT, Ritwik spent over 12 years as an investment banker at global firms, including Nomura, Citi, UBS and JP Morgan. Embassy REIT is India's first publicly listed Real Estate Investment Trust. It owns and operates a 51.1 million square feet portfolio of 14 office parks in Bengaluru, Mumbai, Pune, the National Capital Region (NCR) and Chennai. Embassy REIT's portfolio compri

Sebi mulls allaying concerns on 'skin in the game' rule for MF employees

To address concerns about the "skin in the game" rule for designated employees of mutual funds, Sebi on Thursday proposed reducing the mandatory investment percentage, applying it based on salary brackets, and excluding non-cash components like ESOPs from the minimum investment calculation. The proposals aimed at easing compliance, particularly for employees with lower CTCs and those in operational roles. At present, AMC employees such as the CEO, CIO, and fund managers are required to invest 20 per cent of their annual salary and perks in the mutual funds they manage. This amount is locked in for three years. In its consultation paper, Sebi has proposed that the "minimum mandatory investment amount may be reduced from 20 per cent and made applicable slab-wise, based on the CTC of the employees". Employees earning below Rs 25 lakh would have no mandatory investment, while those with a CTC between Rs 25-50 lakh would invest 10 per cent, those between Rs 50 lakh-1 crore would invest

India equity clearing corporations need diverse ownership: Sebi official

In June, Sebi set up a committee to review the ownership structure of clearing corporations to ensure greater independence and resilience

Sebi member warns against 'race to the bottom' among MIIs at BS BFSI Summit

Ananth Narayan Gopalakrishnan, whole-time member, Securities and Exchange Board of India (Sebi), shares insights into MIIs at the Business Standard BFSI Insight Summit

Sebi gives nod to Rubicon Research, Sai Life Sciences, others to float IPOs

Four companies, including pharmaceutical formulation firm Rubicon Research and TPG Capital-backed Sai Life Sciences, have received Sebi's go-ahead to raise at least Rs 3,000 crore collectively through Initial Public Offerings (IPOs), an update with the markets regulator showed on Wednesday. The other two firms that obtained the regulator's clearance are yarn manufacturer Sanathan Textiles and auto components maker Metalman Auto. Meanwhile, BMW Ventures, which filed its preliminary IPO papers in September, withdrew the documents on October 28. The four companies -- Rubicon Research, Sai Life Sciences, Sanathan Textiles and Metalman Auto -- which filed their draft IPO papers with Sebi during July and August, obtained the regulator's observations on October 31, the update showed. In Sebi's parlance, obtaining observations means its go-ahead to float public issues. The Rs 1,085-crore IPO of Rubicon Research is a combination of a fresh issue of equity shares worth Rs 500 crore and an O

Sebi issues Rs 129 cr demand notices to RHFL, others in fund diversion case

Capital markets regulator Sebi has asked six entities, including Reliance Home Finance Ltd (RHFL) and former company officials, to pay Rs 129 crore for the illegal diversion of funds from the firm. The regulator has warned these entities to attach assets and bank accounts if they fail to make the payment within 15 days. Sebi sent notices to Reliance Home Finance, Ravindra Sudhalkar, Amit Bapna, Pinkesh Shah, Phi Management Solutions Pvt Ltd and Adhar Project Management and Consultancy Pvt Ltd in the case. The demand notices came after these entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi) in August this year. In six separate notices, Sebi directed these six entities to pay the amount in the range of Rs 6.25 lakh to Rs 28.08 crore, which includes interest and recovery costs within 15 days. In the event of non-payment of dues, the market regulator will recover the amount by attaching and selling the moveable and immovable property

Embassy REIT CEO Aravind Maiya resigns following Sebi suspension directive

Aravind Maiya has resigned as CEO of Embassy REIT effective immediately, following Sebi's directive for his suspension due to a debarment for professional misconduct by NFRA

Sebi asks MFs to disclose expenses, returns separately for direct plans

Asks Amfi to come up with standardised half-yearly disclosure format

Explained: Indian MFs can invest up to 25% of net assets in overseas funds

ebi on Monday allowed mutual funds (MFs) to invest in overseas mutual funds or unit trusts that invest a specific portion of their assets in Indian securities.

Sebi allows MFs to invest in overseas schemes with India exposure

However, the scheme's exposure to Indian securities should not exceed 25 per cent

Sebi asks 5 entities to pay Rs 130 cr in Reliance Home fund diversion case

Sebi on Monday asked five entities, including Netizen Engineering and Citi Securities and Financial Services, to pay Rs 130 crore for the illegal diversion of funds from Reliance Home Finance Ltd. The regulator has warned these entities to attach assets and bank accounts if they fail to make the payment within 15 days. Those who have sent notices are Netizen Engineering Pvt Ltd, Gamesa Investment Management Pvt Ltd, Vinayak Ventures Pvt Ltd, Deep Industrial Finance Ltd and Citi Securities and Financial Services Pvt Ltd. The demand notices came after these entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi) in August. In five separate notices, the markets watchdog directed these five entities to pay Rs 26 crore each which includes interest and recovery costs within 15 days. In the event of non-payment of dues, the market regulator will recover the amount by attaching and selling the moveable and immovable property of these entities.

Market regulator Sebi directs Embassy Reit to suspend CEO Aravind Maiya

Action after NFRA debarred Maiya for 10 years in a probe related to Coffee Day

Sebi mulls separation of non-regulated activities for debenture trustees

Sebi on Monday proposed that debenture trustees separate non-market watchdog-regulated activities into a new legal entity and define "cross-default" to clarify their roles in shared security interests. Additionally, the new provisions have been proposed to outline debenture trustees' (DT) rights and responsibilities, aligning with their fiduciary duties and obligations under Sebi's Listing Obligations and Disclosure Requirements (LODR) Regulations. These changes aim to support timely fulfillment of DT duties. The regulator has proposed changes to how the Recovery Expense Fund is used, which supports debenture recovery processes and suggested to standardize the format of Debenture Trust Deeds to streamline documentation. These proposals are aimed at improving ease of doing business for debenture trustees. In its consultation paper, the regulator proposed that DTs should hive off non-Sebi-regulated activities into a new legal entity, which cannot use the DT's brand name after a one-

Sebi allows MFs to invest in foreign funds with Indian securities exposure

Markets regulator Sebi on Monday allowed mutual funds (MFs) to invest in overseas mutual funds or unit trusts that invest a specific portion of their assets in Indian securities. This is subject to the total exposure to Indian securities by such overseas funds not exceeding 25 per cent of their net assets. The move is aimed at facilitating ease of investment in overseas MF/UTs, bringing transparency in the manner of investment, and enabling MFs to diversify their overseas investments, Sebi said in a circular. The new framework will come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said. Also, MF schemes are required to ensure that all investors' contributions to an overseas MF/UT are combined into a single investment vehicle without any side vehicles. The corpus of an overseas MF/UT should be a blind pool with no segregated portfolios, ensuring all investors have equal and proportionate rights in the fund. "All investors in the overseas MF/U

Sebi warns investors against using unauthorised virtual trading platforms

Markets regulator Sebi on Monday cautioned investors against undertaking trading activities through virtual trading or gaming platforms and asked them to deal only through registered intermediaries. The advisory statement came after the Securities and Exchange Board of India (Sebi) noticed that some apps /web applications / platforms are offering virtual trading services or paper trading or fantasy games to the public based on stock price data of listed companies. Such activities are in violation of Securities Contract (Regulation) Act, 1956 and Sebi Act, 1992 which are laws designed to protect investors, the regulator said. In a statement, Sebi reiterated that the public can invest and undertake trading activities in the securities markets only through/with registered intermediaries. "Participation in unauthorized schemes, including sharing of confidential and personal trading data, is at the investors' own risk, cost and consequences, as such schemes / platforms are not registere