18/06/2013
Sebi may tighten buyback norms to clamp down on 'hollow' open offers
The Securities and Exchange Board of India (Sebi) is expected to tighten the buyback norms when the board of the capital market watchdog meets on June 25. The new norms are likely to be in line with the proposals listed in the discussion paper released in January.
The new norms could see the minimum buyback commitment increasing two-fold from the current 25% to 50% of the total buyback size.The time-frame for the buyback could also see a significant reduction from the current one year to around three months.Also, as part of its attempts to clamp down on hollow open offers done to push up the stock prices, the regulator is expected to impose restrictions on further capital raising by companies that make a buyback offer.
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17/06/2013
Sebi finalising new anti-money laundering guidelines
Regulator Sebi is finalising new Anti-Money Laundering guidelines covering entities such as brokers and mutual funds to put in place stronger checks against possible cleansing of funds through capital markets.The guidelines, expected to be ready within a few weeks, will replace Sebi's existing AML/CFT (Anti Money Laundering and Combating the Financing of Terrorism) standards, which first came into effect about 10 years ago and saw the last major amendments in late 2010, a senior official said.
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15/06/2013
Sebi notifies norms for listing of preference shares
Market regulator Sebi has notified a new set of regulations to govern issuance and listing of non-convertible preference shares, a move expected to bring more transparency in raising of funds through such securities. To safeguard the interest of small investors from such high-risk securities, Sebi said the listing of privately placed non-convertible redeemable preference shares would require a minimum application size of Rs 10 lakh for each investor.
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14/06/2013
Infosys under Sebi scanner over May 31 stock price spike
Market regulator Sebi is understood to have sought information from Infosys over June 1 board meet. Sources told CNBC-TV18's Sajeet Manghat that the watchdog have likely taken notice of the unusual price movement on May 31. It must be remembered that a day prior to the said board meet, Infosys’s stock price rose 2.8 percent .The June 1 board meet was held to announce Narayana Murthy’s return into the company. Sources say Sebi may seek information about agenda as well as the people who were aware of the meet. Infosys has confirmed that Sebi has sought some clarifications on the June 1 board meeting. They are saying that this information has been provided and they are cooperating with Sebi. Any future information the regulator is seeking will be provided by them.
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13/06/2013
Sebi committee moots easing of norms for foreign investors
A committee set up by the capital market regulator and headed by former cabinet secretary KM Chandrasekhar has recommended doing away with different categories of foreign investors and simplifying the registration procedures for overseas entities to attract higher capital flows.
The panel has also recommended that the current requirement for foreign institutional investors (FIIs) and sub-accounts to get registered with the Securities and Exchange Board of India (Sebi) be scrapped. Instead, entities can register with and transact through designated depository participants.
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12/06/2013
CIR/IMD/FIIC/8/2013
Enhancement in Foreign Investment limits in Government debt
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12/06/2013
SEBI recommends easing rules for foreign investors
A committee set up by the Securities and Exchange Board of India (SEBI) has recommended merging foreign investment in India's stock markets into a single investor class as well easing registration norms for foreign buyers, in a move aimed at appeasing foreign investors.A panel set up by the SEBI has recommended that the regulator simplify the Know Your Client (KYC) norms according to the risk profile of the investor.The SEBI committee also recommended merging the existing categories of Foreign Institutional Investors (FIIs), their sub accounts and Qualified Foreign Investors into the Foreign Portfolio Investor (FPI) class.
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11/06/2013
CIR/MRD/DP/ 19 /2013
Establishment of Connectivity with both depositories NSDL and CDSL-Companies eligible for shifting from Trade for Trade Settlement (TFTS) to Normal Rolling Settlement
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11/06/2013
Sebi may get to access call data records to unearth irregularities
The Securities and Exchange Board of India (Sebi) may soon get to access call data records (CDR) of the entities under its probe. The finance ministry has written to the home ministry and the telecommunication department to designate the capital markets regulator as an agency authorised to be a recipient of CDR information related to calls, emails and SMSes under the Indian Telegraph Act, 1885.
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07/06/2013
Sebi could take further action against errant promoters
Market regulator Securities and Exchange Board of India (Sebi) will consider further action against companies that have failed to comply with the minimum public shareholding criteria after they submit their replies to the showcause notice.“It is an interim order. People have been asked to (reply to the) show cause (notice). Going by the merits of the show cause, individual action will be taken on a case-to-case basis,” said Sebi Chairman UK Sinha on Thursday on the sidelines of the Skoch Summit.On Tuesday, Sebi had passed an order against promoter individuals and entities of these 105 companies for failing to reduce their shareholding to at least 75 per cent. While imposing a partial market ban and freezing a portion of their voting rights, the regulator asked them to submit replies within 21 days.
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