Securities and Exchange Board of India has decided to introduce the concept of ‘swing pricing’ for all open-ended debt mutual fund schemes except overnight funds, gilt funds and Gilt with 10-year maturity funds. This move is aimed at discouraging large investors from sudden redemptions. The framework will be applicable from March 1, 2022. Swing pricing is a mechanism by which fund houses can adjust a scheme’s net asset value (NAV) in response to the flows […]

The Securities and Exchange Board of India approved the creation of a Social Stock Exchange and its framework in a board meeting of the regulator held earlier today. The proposal for the creation of a Social Stock Exchange was put forth by Finance Minister Nirmala Sitharaman in her Budget speech in July 2019. The capital market regulator said that it will engage with NABARD, SIDBI and stock exchanges to create a capacity-building fund of Rs […]

Supreme Court: The 3-judge bench of SA Bobde, CJ and AS Bopanna* and V. Ramasubramanian, JJ has held that  under the Prevention of Money ­Laundering Act, 2002, though the Directorate of Enforcement is vested with sufficient power to freeze the accounts; such power is circumscribed by a procedure laid down under the statute. “It certainly is not the requirement that the communication addressed to the Bank itself should contain all the details. But what is necessary is […]

(This story originally appeared in Times of India on Sep 14, 2021) Mumbai: Markets regulator Sebi and the brokers on Dalal Street are currently in a face-off relating to trading processes in the stock market. Sebi’s insistence on continuing with a very high margin requirement for all types of cash trades, called peak margin, has been met with strong resistance from the broking community. As the issue relating to margin was being discussed between the […]

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