POLICY DEVELOPMENTS IN INDIAN SECURITIES MARKET Transactions in Corporate Bonds Through Request for Quote Platform by Stock Brokers SEBI has taken steps to increase the liquidity on Request for Quote (RFQ) platform of stock exchanges to enhance transparency and disclosure pertaining to trading in secondary market in corporate bonds. Certain stipulations were made for transactions on RFQ platform by mutual funds, portfolio management services and alternate investment funds. To increase liquidity of corporate bonds (CBs) […]

Brokers disagree with Sebi’s term of a “fit and proper person.” Synopsis The division bench of Justice GS Patel and Justice Dr Neela Gokhale has instructed the capital markets regulator to submit its answer in the issue by July 20, and the case has been postponed until August 2 for further hearing. In the Bombay High Court, more than a half-dozen firms, including big-league domestic brokerages Motilal Oswal Financial Services (MOFSL) and Anand Rathi Shares […]

Sebi proposes a unified cyber security framework. Synopsis Sebi has produced a consultation paper titled ‘Consolidated Cyber Security and Cyber Resilience Framework (CSCRF) for Sebi Regulated Entities’, which aims to provide a common framework for diverse approaches to cyber security in order to reduce cyber-risks/incidents. Sebi, the market regulator, has suggested a streamlined cyber security and cyber resilience framework in which all regulated businesses must have an up-to-date cyber crisis management strategy. The framework has […]

All listed firms are subject to the trading restriction mandate: Sebi Synopsis Such a closure would be enforced on the securities to which the UPSI pertains. When the trading window is closed, designated people and their immediate relatives are not permitted to deal in securities. Mumbai: The Securities and Exchange Board of India (Sebi) said on Wednesday that the ability to freeze specified people’ permanent account numbers (PANs) during trading window closure for financial results […]

Authorized Persons of Brokers not exempt from SEBI RIA Registration  Only firms with RIA registration may offer financial advising services under the Sebi Registered Investment Advisor requirements. The Sebi RIA rules exclude ‘brokers and sub-brokers’ from registration but are vague on authorised people. A new Sebi ruling has called into question the eligibility of ‘Authorised Persons’ or APs to provide financial advice services. Only firms with RIA registration may offer financial advising services under the […]