SEBI - Corporate Law Reporter

Guidelines for functioning of Stock Exchanges and Clearing Corporations in International Financial Services Centre (IFSC)

CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2016/125 November 28, 2016 All Stock Exchanges and Clearing Corporations in International Financial Services Centre Dear Sir/Madam Guidelines for functioning of Stock Exchanges and Clearing Corporations in International Financial Services Centre (IFSC) 1. Pursuant to announcement in the Union Budget 2015-16 on Gujarat International Finance Tec-City (GIFT), SEBI (International Financial Services Centre) Guidelines, 2015… Read More

SEBI Board Meeting

PR No. 161/2016 SEBI Board Meeting The SEBI Board met in Mumbai today and took the following important decisions: I. Amendment to SEBI (Alternative Investment Funds) Regulations, 2012 regarding Angel Funds In order to further develop the alternative investment industry and the startup ecosystem in India, SEBI, in March 2015, constituted a Committee of experts… Read More

Review of requirement for copy of PAN Card to open accounts of FPIs

CIRCULAR CIR/IMD/FPIC/123/2016 November 17, 2016 To, 1. All Foreign Portfolio Investors ("FPIs") through their Designated Depository Participants ("DDPs")/ Custodian of Securities. 2. The Depositories (NSDL and CDSL) 3. All Recognized Stock Exchanges 4. KYC Registration Agencies (KRAs) Sir/ Madam, Subject: Review of requirement for copy of PAN Card to open accounts of FPIs 1. Please… Read More

Investment/trading in securities by employees of AMC(s) and Trustees of Mutual Funds

The Securities and Exchange Board of India has issued Circular SEBI/HO/IMD/DF2/CIR/P/2016/124 dated November 17, 2016 on Investment/trading in securities by employees of AMC(s) and Trustees of Mutual Funds. Please click on the below link the access the complete circular: Investment/trading in securities by employees of AMC(s) and Trustees of Mutual Funds Read More

Takeover Defenses in India

Hostile takeovers have been relatively uncommon in India compared to Western jurisdictions. However, it has been observed in recent times that the trend is slowly but surely catching up in India as well. While the Takeover Code and the Companies Act mandate several disclosure requirements which make it considerably difficult for hostile raiders to acquire… Read More

Clarification on aspects related to day count convention for debt securities issued under the SEBI Regulations, 2008

CIRCULAR CIR/IMD/DF-1/122/2016 November 11, 2016 To, All Issuers All Recognized Stock Exchanges All Depositories All Registered Merchant Bankers Dear Sir / Madam, Sub.: Clarification on aspects related to day count convention for debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 1. SEBI vide circular no. SEBI/CBM/BOND/2/2007/13/04 dated April 13,… Read More

Uploading of the existing clients’ KYC details with Central KYC Records Registry (CKYCR) System by the registered intermediaries

CIRCULAR CIR/MIRSD/120 /2016 November 10, 2016 1. All Recognized Stock Exchanges 2. Stock Brokers through Recognized Stock Exchanges 3. All recognised Depositories 4. Depository Participants through Depositories 5. Association of Mutual Funds in India 6. Mutual funds through AMFI 7. Portfolio Managers 8. KYC Registration Agencies (KRAs) 9. Alternative Investment Funds (AIFs) 10. Collective Investment… Read More

Extension of date for submitting comments on the Consultation paper on Amendments/Clarifications to the SEBI

PR No. 153/2016 Extension of date for submitting comments on the Consultation paper on Amendments/Clarifications to the SEBI (Investment Advisers) Regulations, 2013 issued on October 07, 2016 SEBI issued consultation Paper proposing Amendments/Clarifications to the SEBI (Investment Advisers) Regulations, 2013 and public comments were sought till November 04, 2016. Based on the representations received… Read More

Enhanced Standards for Credit Rating Agencies (CRAs)

CIRCULAR SEBI/HO/MIRSD/MIRSD4/CIR/P/2016/119 November 1, 2016 To All Credit Rating Agencies Registered with SEBI Dear Sir/ Madam, Sub: Enhanced Standards for Credit Rating Agencies (CRAs) 1. SEBI constituted a committee on “Strengthening the Guidelines and Raising Industry Standards for Credit Rating Agencies (CRAs)”, which included representatives from all the CRAs. The objective of the Committee was… Read More

Freezing of Promoter and Promoter group Demat accounts for Noncompliance with certain provisions of SEBI

CIRCULAR SEBI/HO/CFD/CMD/CIR/P/2016/116 October 26, 2016 To All the Recognized Stock Exchanges All Depositories Dear Sir/Madam, Sub: Freezing of Promoter and Promoter group Demat accounts for Noncompliance with certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 1. SEBI, vide Circular No. CIR/CFD/CMD/12/2015 dated November 30, 2015, had prescribed the uniform fine structure for… Read More

Disclosures in case of listed insurance companies

CIRCULAR CIR/CFD/DIL/115/2016 October 24, 2016 To All issuers All Recognized Stock Exchanges Dear Sir / Madam, Sub: Disclosures in case of listed insurance companies 1. SEBI circular No. CIR/CFD/CMD/15/2015 dated Nov 30, 2015 provides for formats for publishing financial results by listed companies. 2. Subsequently, vide circular No. CIR/CFD/FAC/62/2016 dated July 05, 2016, the following… Read More

Disclosure of financial information in offer document/placement memorandum for InvITs

CIRCULAR CIR/IMD/DF/114/2016 October 20, 2016 To All Infrastructure Investment Trusts (InvITs) All Parties to InvITs All Stock Exchanges All Merchant Bankers Dear Sir / Madam, Sub: Disclosure of financial information in offer document/placement memorandum for InvITs 1. Regulation 15(3), read with Schedule III, and Regulation 15(4) of the SEBI (Infrastructure Investment Trusts) Regulations, 2014 prescribe… Read More

Facilitating transaction in Mutual Fund schemes through the Stock Exchange Infrastructure

CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2016/113 October 19, 2016 To All Recognised Stock Exchanges, All Recognised Clearing Corporation, All Depositories. Dear Sir / Madam, Subject: Facilitating transaction in Mutual Fund schemes through the Stock Exchange Infrastructure 1. SEBI vide circular no. CIR/MRD/DSA/32/2013 dated October 04, 2013 had permitted mutual fund distributors to use recognised stock exchanges' infrastructure to purchase… Read More