India

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    Enforcement

    SEBI Seeks More Time to Complete Adani Group Probe

    By Editors | 04/05/2023

    The probe has made slow progress because of difficulties obtaining information from foreign regulators. Some foreign funds have also refused to identify their beneficial owners.

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    AML / KYC

    SEBI Mandates LEI Reporting Requirement for Debt Issuers

    By Editors | 03/05/2023

    Issuers of listed non-convertible securities, securitised debt instruments and security receipts must obtain and report their LEI by 1 September.

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    Capital / Liquidity

    ESMA Follows Through with De-recognition of Indian CCPs

    By Manesh Samtani | 03/05/2023

    So far Indian markets have not faced disruptions. This is attributed to the concessions provided by French and German regulators.

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    Sanctions

    India, Russia to Explore Cross-border Payment Linkages

    By Editors | 02/05/2023

    India agreed to explore the acceptance of Russian Mir cards, a link with Russia’s Faster Payments System, and adoption of Russia’s financial messaging system.

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    Securities / Derivatives

    SEBI Bans Brokers from Pledging Client Funds for Bank Guarantees

    By Editors | 01/05/2023

    Existing bank guarantees created from client funds must be wound down by 30 September, to prevent misuse of investors’ money.

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    Enforcement

    SEBI Imposes 7-Year Market Ban Against Karvy Stock Broking

    By Editors | 29/04/2023

    Karvy Stock Broking Limited was found to have misused clients’ assets in 2019, by pledging them as collateral to borrow funds from banks and NBFCs.

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    Market Infrastructure

    RBI Eases Restrictions on Funds Held in GIFT City by Indians

    By Editors | 27/04/2023

    The RBI removed a requirement for Indian residents to repatriate funds that lie idle for 15 days in GIFT City bank accounts. Restrictions on interest-bearing accounts also relaxed.

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    Market Infrastructure

    NSE IFSC-SGX Connect to Fully Launch on 3 July

    By Editors | 18/04/2023

    SGX will migrate all open positions in SGX Nifty to the relevant NSE IFSC NIFTY contracts during the weekend of 30 June.

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    India, Russia in Advanced Talks on Trade Treaty

    By Sanday Chongo Kabange | 18/04/2023

    The RBI is also engaged in discussions with several other countries on the possibility of conducting trade in the rupee.

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    Securities / Derivatives

    NSE India to Launch WTI Crude Oil, Natural Gas Futures

    By Editors | 17/04/2023

    NSE will launch WTI crude oil and natural gas futures contracts from 15 May. Both already trade on India’s MCX.

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