REGULATOR
NSE caps listing gains in SME IPOs; ‘move to curb price swings’
NSE imposes a 90% cap on SME IPOs to stabilize prices; Winsol Engineering surged by 411%. Amit Goel noted reduced volatility. Sebi chair Madhabi Puri Buch raised SME manipulation concerns. Sebi took action against Varanium Cloud, SecureKloud Technologies, Add-Shop E-Retail, suspecting schemes like bonus issues, stock splits, and preferential allotments.
Government working to regulate AI: IT minister Ashwini Vaishnaw
During the Global IndiaAI Summit 2024, Jitin Prasada highlighted the imperative of responsible AI development and the global threat to democracies. International cooperation is crucial in managing the risks posed by AI technology.
Adani saga heads for a messy closure
SEBI-Hindenburg clash escalates, questioning SEBI's actions and hindering the closure of the Adani controversy, showcasing the evolving dynamics in the financial market regulatory landscape.
Kotak Bank created fund used to bet against Adani: Hindenburg
Kotak Mahindra Bank managed funds for Adani stock trades, leading to significant profits. Despite ET queries, the bank mentioned transactions were made on a principal basis. Kingdon transferred funds for short positions on Adani stocks, resulting in gains after positions were squared off.
Broking stocks fall up to 10% after SEBI calls for uniform charges
SEBI instructed MIIs to ensure uniform charges benefiting end clients, with changes effective from October 1, 2024. The circular aims to rectify incorrect disclosures, especially regarding charges collected from end clients by MIIs. MIIs are directed to redesign charge structures and communicate with SEBI for compliance.
Blow to Discount Brokers: Sebi says charges levied by market institutions should be uniform
Exchanges frequently offer lower fees to brokers who generate high trading volumes, which has led to increased activity across segments such as derivatives. Sebi is considering asking exchanges to halt this practice as part of a broader strategy to temper the excessive trading activity in India's derivative markets. Discount broking firms' revenues are expected to get hit as a significant part comes from the paybacks that exchanges give for the volumes they generate.
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Sebi penalises Kwality's former MD, others for misrepresenting company's financials
Fine totalling Rs 3.75 crore were slapped on former promoter and MD of dairy firm Kwality's Sanjay Dhingra and other entities for misrepresenting the financials of the company. Kwality went into insolvency process in December 2018 and was acquired by Sarda Mines through the liquidation process in 2022.
Nithin Kamath sees tough times for broking industry as regulator seeks to rein in options boom
The Zerodha chief's remarks follow Sebi chair Madhabi Puri Buch's announcement that the regulator is aware of the highly speculative nature of options trading. Sebi plans to take action based on the recommendations of the working committee.
Sebi approves stricter norms for inclusion of individual stocks for derivative trading
The criteria for exit would apply to only those stocks which have completed at least six months from the month of entry into the derivative segment. while for existing stocks in the derivatives segment, the exit criteria on the basis of performance would be applicable three months after the date of issuance of circular, Sebi said.
Infosys CEO Parekh settles insider trading charges
Salil Parekh, CEO of IT major Infosys, has settled a matter related to alleged insider trading violation by agreeing to pay Rs 25 lakh, said the Securities and Exchange Board of India (Sebi).
Funds circling India debt risk being tripped Up by red tape
China's tax exemptions on bond investments set a precedent for India's sovereign debt market, likely attracting more foreign investors. The hurdles faced by outsiders in accessing the market include lengthy documentation, tax treaty variances impacting returns, and the need for registration via custodian banks for trading in certain bonds.
Sebi eases trading norms for company insiders
"Insider may make adjustments, with the approval of the compliance officer, in the number of securities and price limit in the event of corporate actions related to bonus issue and stock split occurring after the approval of trading plan and the same shall be notified on the stock exchanges on which securities are listed," Sebi said .
Nervous investors tear up ESG playbooks in election supercycle
In 2024, global elections spark an anti-green trend affecting ESG investments. Marine Le Pen and Trump's influence reshape the environmental landscape. Utility stocks gain prominence amidst shifting policies and investor sentiments.
Sebi issues guidelines for stock bourses, market infra institutions
Functional committees are the member committee, nomination and remuneration committee, oversight committees, standing committee on technology regulatory oversight committee, and risk management committee and investment committee.
Sebi weighs tighter checks for stocks at F&O entry gate
In its June 8 consultation paper, Sebi had sought feedback from market participants for its plan to revise the eligibility criteria for stocks to be a part of the futures and options (F&O) segment. The regulator wants stocks that are part of the derivatives market to be more liquid and traded by a wide set of market participants to prevent manipulation and lower risks to the system.
Tax parity for IFSC funds to help HNIs avoid US inheritance levy
Wealthy Indians can use GIFT City to avoid US inheritance tax on offshore investments. IFSCA is seeking tax parity for funds in GIFT City to attract HNI investors.
Sebi plans tweaks to address derivative trading risks: Report
India's markets regulator, SEBI, is considering tweaks to derivative trading rules to address risks from the explosive growth in options trading. The rules aim to regulate retail trading and involve discussions with fund houses.
Insurers must offer a basic cover, strict claim deadlines
Regulator mandates 'pay as you drive' option in motor insurance. Customers to benefit from tailored products and roadside assistance services. Insurers bear salvage disposal burden, offer flexible 'fire' policy options.
Did PM Modi and Amit Shah break any Sebi rule by predicting stock market rally after elections? Legal experts weigh in
PM Modi and Amit Shah's post-election stock market rally predictions have sparked a political issue, with Rahul Gandhi linking it to the stock market crash. Legal experts say the statements do not violate Sebi rules.
LIC, YES Bank among 78 stocks that can enter F&O list if Sebi changes rules
Sebi proposes to revise criteria for derivatives market, potentially adding 78 stocks like LIC, Zomato, YES Bank. Changes include higher thresholds for order size, market-wide position limits, and introducing Product Success Framework for single-stock derivatives after 6 months.
Sebi slams ICICI’s canvassing for I-Sec delisting
Sebi reprimanded ICICI Bank for conducting an outreach programme to influence ICICI Securities shareholders during the voting on delisting. Sebi directed ICICI Bank to examine complaints and take action against violations.
Bajaj Finance Housing Fin arm to raise Rs 4,000 crore
Bajaj Finance's housing finance arm is set to raise ₹4,000 crore via an initial public offering (IPO) to meet RBI mandates, as confirmed by the company in a stock exchange filing.
Sebi warns ICICI Bank over outreach for ICICI Securities delisting
Despite the bank's claim that their outreach program was solely educational and aimed at maximising shareholder participation, SEBI found evidence to the contrary. Investor complaints reveal that some bank officials exceeded their mandate by making persistent calls and requesting screenshots of voting, suggesting a concerted effort to influence shareholder decisions.
Sebi asks Religare to file Burmans’ open offer plan
Sebi directs Religare to apply with open offer proposal by Burman family to purchase additional 26% stake from public shareholders.
India seeks firms make additional disclosures to fast track public offers, document shows
SEBI wants companies seeking to go public to provide 31 additional disclosures, including details on conflicts of interest. The regulator aims to expedite public offers by requiring more information from merchant bankers, as reported by Reuters.
Sebi launches beta version of settlement calculator
It also enables the applicant to select the appropriate options with respect to their past regulatory track record on the basis of actions of Sebi as well as the details of other ongoing proceedings, if any, as on date of filing the settlement application, the regulator said in a release.
Sebi launches beta version of calculator to arrive at settlement amount
Capital markets regulator Sebi on Thursday launched a beta version of the settlement calculator to simplify the process of arriving at the indicative settlement amount, and provide more transparency in the system.
IRDAI in favour of 100% cashless claim settlement in health
In terms of cashless claims, the regulator wants insurers to decide on authorisation requests within one hour of receipt. It has directed insurance companies to put in place necessary systems and procedures to meet the new guidelines by July 31, 2024.
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