The Securities and Exchange Board of India (SEBI) has come out with a framework for segregation and monitoring of collateral at client level. The regulator said the move is aimed at strengthening the mechanism of protection of client collateral from misuse and default of brokers. There has been several instances in the recent past of brokers defaulting and misusing clients securities and funds. SEBI said clearing corporations should specify a reporting mechanism that would provide […]

If the taxpayer cannot pay all the GST dues (tax/interest/penalty) in a lump sum or within the stipulated date, then he can file an application to the Commissioner requesting to pay in installments. The Commissioner can extend the due date for payment or allow the taxpayer to pay in installments. The reasons for accepting/rejection of such application have to be provided in writing. When paying in installments, the taxpayer has to remember that: Installments are payable every […]

This has reference to Exchange circular NSE/INSP/43488 dated February 10, 2020 with respect to Treatment of Inactive trading account. Based on representations received from Members’ and in consultation with other Stock Exchanges the following clarification is being issued The requirement for flagging the client as inactive in the UCC database of the Exchanges and the exemption for reporting (weekly submission of securities holding and monthly upload of client funds and securities balances) shall continue to […]

New Delhi: Markets regulator Sebi on Tuesday came out with revised formats for filing financial information by entities that have listed their non-convertible securities on stock exchanges. In September, the regulator had notified corporate governance rules for listed entities which have listed their debt securities. It had mandated that such entities should disclose financial results on a quarterly basis, including assets and liabilities, and cash flows. Now, Sebi has come out with formats for reporting […]

Capital markets regulator Sebi has put in place certification requirements for associated persons engaged by portfolio managers as distributors or employees having decision-making authority related to fund management. These persons need to obtain certification from the National Institute of Securities Markets (NISM), the regulator said in two separate notifications dated September 7. The associated persons, engaged by a portfolio manager as a distributor of the PMS, and associated persons functioning as principal officers of a […]