Sebi bans 3 bankers and 7 companies for IPO violations including Atherstone Capital, PNB Investment Services
Posted Date : 29-Dec-2011 , 09:07:06 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) has sought to punish three merchant banks, including Punjab National Bank's merchant banking arm, and seven recently-listed firms and their promoters, accusing them of misusing IPO proceeds, performing shoddy due-diligence process, and aiding pro...
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Sebi proposes regulation for investment advisors
Posted Date : 28-Dec-2011 , 08:59:39 am | Posted By CASANSAAR
Market regulator Sebi has proposed new rules for investment advisors that will require them to be registered with a self-regulatory organisation (SRO) before undertaking such a role. The proposed framework intends to regulate investment advisory services in various forms including independent fin...
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SEBI to launch toll-free helpline for investors
Posted Date : 27-Dec-2011 , 08:20:10 am | Posted By CASANSAAR
Market regulator SEBI would launch a toll-free helpline as part of educating investors on the securities market, Chairman U K Sinha said today. With the launch of helpline, an investor can ask any question regarding the securities market which will be answered. "The reason why we are launching i...
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Sebi bans incentive payment in debt issues
Posted Date : 27-Dec-2011 , 08:17:01 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) on Monday banned payment of incentives to investors to bid in public sale of bonds as it considers the practice leads to an 'unfair advantage' to a select few and raises the cost to issuer. "In order to curb such practices, it is advised that in ...
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PMO declines to disclose former SEBI member's letters
Posted Date : 20-Dec-2011 , 08:05:10 am | Posted By CASANSAAR
he Government has declined to disclose two letters written to Prime Minister Manmohan Singh by former SEBI member K M Abraham, who had alleged in another communication, interference by some corporates and top Finance Ministry officials in the working of the market regulator. &nb...
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Sebi may keep family offices out of private capital norms
Posted Date : 15-Dec-2011 , 08:38:04 am | Posted By CASANSAAR
Capital market regulator Sebi is likely to keep family offices and special purpose vehicles (SPVs) out of the proposed regulations on private capital pools like private equity and real estate funds. "Sebi has received feedback that the definition is too broadly worded," said a person famil...
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Sebi may relax norms for mutual funds advertisements
Posted Date : 08-Dec-2011 , 08:21:22 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) is planning to relax advertisement norms for mutual funds. The securities market regulator may allow mutual funds to use more space in advertisements to promote their products by reducing the disclaimer size. The mutual fund industry has been...
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Sebi seeks regulator to monitor Auditors
Posted Date : 06-Dec-2011 , 08:01:01 am | Posted By CASANSAAR
Market regulator Sebi has called for the creation of an independent regulator to oversee auditors, a move that is being opposed by the Institute of Chartered Accountants of India (ICAI), the industry body that self-regulates the auditing profession at present. "We have taken up the issue with th...
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SEBI notifies guidelines for KYC Registration Agencies
Posted Date : 04-Dec-2011 , 07:29:55 pm | Posted By CASANSAAR
To prevent duplication in customer identification process, market regulator SEBI today issued guidelines for KYC Registration Agencies and said wholly-owned subsidiaries of stock exchanges and depositories would be eligible able to act in such a role.
The Securities and Exchange Board of Ind...
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Sebi clears system to facilitate single KYC for all trades
Posted Date : 03-Dec-2011 , 08:43:17 am | Posted By CASANSAAR
Investors will no longer need to go through the know-your-customer (KYC) scrutiny process multiple times to invest in stock markets. This process will be done through a single knowyour-customer clearance window soon, Sebi said on Friday. At present, if an investor intends to open accounts with d...
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Satyam staff fined Rs 5 lakh for insider trading
Posted Date : 30-Nov-2011 , 08:54:09 am | Posted By CASANSAAR
Sebi has imposed a penalty of Rs 5 lakh on G Jayaraman, compliance officer of erstwhile Satyam Computer alleging violation of insider trading rules. Sebi conducted an investigation relating to insider trading in shares of Satyam in 2008-09. It revealed that company's announcement on December 16,...
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Supreme Court issued notice to SEBI on Sahara companies' plea
Posted Date : 29-Nov-2011 , 08:15:52 am | Posted By CASANSAAR
The Supreme Court Monday issued notice to the securities and exchange regulator on a plea of two Sahara group companies which challenged a Securities Appellate Tribunal's (SAT) award directing them to refund Rs.17,400 crore they had collected from investors through Optional Fully Convertible Deb...
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Dupe charges: DLF moves Delhi HC against SEBI order
Posted Date : 21-Nov-2011 , 08:45:01 am | Posted By CASANSAAR
DLF Limited has moved the Delhi High Court challenging the order of market regulator Sebi to probe accusations by a Delhi-based businessman that he was duped of Rs 34 crore by the realty major and its alleged associate firm Sudipti Estates.
Justice Vipin Sanghi has now fixed the petition of ...
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Sebi notifies enhanced FII investment limit
Posted Date : 18-Nov-2011 , 08:21:29 pm | Posted By CASANSAAR
Market regulator Sebi today notified increasing the limit for foreign institutional investors (FIIs) in government securities and corporate bonds by $5 billion each and said the bidding process for the additional amount would be conducted on November 30.
The announcement by the Securities a...
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SEBI asked to probe charges that NSE harming investors' interest
Posted Date : 17-Nov-2011 , 08:07:49 am | Posted By CASANSAAR
Stock market watchdog Securities and Exchange Board of India (SEBI) was today asked by the Delhi High Court to examine an investor group's allegation that National Stock Exchange was acting against investors to protect stock brokers's interests.
"The issue raised by the petitioner needs serious c...
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SEBI allows MFs to participate in repo corp debt securities
Posted Date : 12-Nov-2011 , 08:41:59 am | Posted By CASANSAAR
Market regulator SEBI today allowed mutual funds to invest in repo, or short-term repurchase of forward contract, of corporate debt securities with a ceiling of 10 per cent of the net assets of the concerned scheme. "The gross exposure of any mutual fund scheme to repo transactions in corp...
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Sebi chief's appointment under SC lens
Posted Date : 05-Nov-2011 , 04:02:02 pm | Posted By CASANSAAR
The central government on Friday told the Supreme Court that it was confident of being able to defend the appointment of UK Sinha as chairman of the market watchdog Sebi. The court was hearing a public interest litigation filed by a number of prominent individuals, including a former chief of the...
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SEBI asks fund houses to display agent fees on websites
Posted Date : 03-Nov-2011 , 07:57:34 am | Posted By CASANSAAR
Market regulator Sebi has asked fund houses to publicly display the commission they pay distributors for selling mutual funds, a move aimed at bringing in transparency in fee structure. The regulator has asked asset management companies to disclose commission paid to distributors between April 1...
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Extant law: New Sebi takeover code to benefit shareholders
Posted Date : 01-Nov-2011 , 08:27:00 am | Posted By CASANSAAR
The new takeover code notified by the Sebi on September 23, 2011 has brought about various changes in the extant law aimed at benefitting shareholders. An important provision, which has been drafted, is the obligation of the board of directors to constitute a committee of independent director...
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Sebi's will supersedes Companies Bill: Fin Min, MCA
Posted Date : 29-Oct-2011 , 09:55:41 am | Posted By CASANSAAR
The Finance Ministry and the Ministry of Corporate Affairs finally seem to have ironed out issues regarding the Companies Bill, especially with respect to clashes with market regulator Sebi's jurisdiction, reports CNBC-TV18’s Aakansha Sethi.
The Finance Ministry and SEBI had asked f...
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SEBI allows sub-brokers to carry out ‘in-person’ verification
Posted Date : 28-Oct-2011 , 10:19:35 am | Posted By CASANSAAR
Market watchdog Securities and Exchange Board of India (SEBI) has allowed sub-brokers to carry out ‘in-person’ verification (IPV) of clients, reports PTI.“... the subsidiaries of stock exchanges, acting as stock brokers, may rely upon the ‘in-person’ verification done b...
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Sebi to probe allegations against DLF, Sudipti Estates
Posted Date : 21-Oct-2011 , 08:17:27 am | Posted By CASANSAAR
Market regulator Sebi today said it will probe allegations by a Delhi-based businessman that he was duped of Rs 34 crore by DLF Limited and Sudipti Estates. The probe order follows a Delhi High Court ruling on a complaint filed by Kimsuk Krishna Sinha in 2007 against the DLF Group and Sudipti...
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SAT tells Sahara firms to pay Rs 24k cr in six weeks
Posted Date : 19-Oct-2011 , 08:14:10 am | Posted By CASANSAAR
Group says ‘shocked’, to move Supreme Court.
The Securities Appellate Tribunal (SAT) on Tuesday directed two Sahara group firms to refund a sum of Rs 24,029 crore to 29.6 million investors who had subscribed to its optionally fully convertible debentures (OFCDs).
...
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Sebi announces uniform KYC norms for securities market
Posted Date : 05-Oct-2011 , 07:51:34 pm | Posted By CASANSAAR
"With a view to bring about uniformity in securities markets, it has also been decided that the same Know Your Customer (KYC) form and supporting documents shall also be used by all captioned SEBI registered intermediaries," the regulator said in a circular.
The new rule will be effective from Ja...
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Sebi wants companies to disclose 'relevant' risk factors
Posted Date : 04-Oct-2011 , 07:50:37 am | Posted By CASANSAAR
Capital market watchdog Sebi is considering a new set of regulations for disclosure of only relevant risk factors by the companies in a format that is easy-to-understand for the investors.
Besides, the regulator is also planning changes in norms to bring in more clarity in the disclosure of 'rela...
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Sebi revises bidding norms for FIIs in infra bonds
Posted Date : 01-Oct-2011 , 08:25:34 am | Posted By CASANSAAR
Revising its norms for foreign institutional investors (FII) in the infrastructure debt bonds, the capital market regulator Sebi today lowered the minimum bidding and allocation amounts for such investors. As per the revised guidelines, no single FII shall be allocated more than Rs 2,000 cror...
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SEBI mandates creation of credit rating agency
Posted Date : 30-Sep-2011 , 07:48:47 am | Posted By CASANSAAR
Stock market regulator sSEBI has made it mandatory to appoint a SEBI approved credit rating agency for valuing structured products and market linked debentures.
SEBI has said that the valuation of structured products would be put up once a week on the websites of the issuer and the rating agency....
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Sebi sets Rs 100-cr net worth floor for debentures
Posted Date : 29-Sep-2011 , 08:19:33 am | Posted By CASANSAAR
Companies issuing structured products or market-linked debentures should have a minimum net worth of at least Rs 100 crore, if they want them to be listed on the stock exchanges, the Securities and Exchange Board of India said on Wednesday.
The capital markets regulator also stipulated th...
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Sebi to revisit interest rate futures rules
Posted Date : 28-Sep-2011 , 08:31:12 am | Posted By CASANSAAR
Market regulator Sebi plans to liven up trading in interest rate futures (IRF) which was introduced a few years ago as a hedging tool to cover risks arising from rate fluctuations. Sources familiar with the development say that Sebi is considering several measures, like cash settlement in 10-ye...
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Securities Appellate Tribunal upholds Sebi order against Axis Bank
Posted Date : 27-Sep-2011 , 08:24:02 am | Posted By CASANSAAR
The Securities Appellate Tribunal (SAT) on Monday upheld a Sebi order imposing a Rs 2-lakh fine on private lender Axis Bank, saying the same individual cannot be on the board of both the debenture trustee and the issuer. In 2009, the market regulator had found certain deficiencies in Axis Ba...
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