INDIA

AML / KYC

Chinese Phonemaker Vivo Accused of Evading Tax in India

By Editors | 09/07/2022

Vivo is alleged to have made remittances via Hong Kong to China to disclose losses in India and avoid domestic tax payments.

Securities / Derivatives

SEBI Directs Brokers to Report Cyber Threats Within Six Hours

By Editors | 06/07/2022

Quarterly reports must be issued containing information on cyber incidents, risk mitigation measures, bugs and vulnerabilities, and threat details.

Enforcement

SEBI Fines NSE, Infotech, Six Others Over Algo Trading Scandal

By Editors | 04/07/2022

NSE awarded a contract to Infotech despite conflicts of interest. Confidential NSE data was then misused to develop algorithmic trading software.

Enforcement

SEBI Fines NSE, Officials, Brokers in Colocation Case

By Editors | 02/07/2022

SEBI fined the NSE, five officials, Sampark Infotainment, two brokerage firms and nine other individuals connected to the case.

Securities / Derivatives

SEBI Announces Decision to Allow FPIs to Trade Commodity Derivatives

By Editors | 30/06/2022

FPIs will be allowed to trade non-agri commodity derivatives and select non-agri benchmark indices. Only cash-settled contracts will be allowed.

Fintech / Regtech

RBI Issues Draft Rules on Managing IT Outsourcing Risks

By Sanday Chongo Kabange | 28/06/2022

Regulated entities don’t require specific approvals to outsource IT services, but appropriate policies and a risk management framework must be in place.

Capital / Liquidity

RBI to Require Banks to Use ECL Approach in Provisioning

By Editors | 28/06/2022

Banks were initially due to use the ECL approach to estimate and provision for credit losses from 1 April 2018, but the RBI had deferred implementation.

Securities / Derivatives

SEBI Reviews Plans to Allow FPI Access to Commodity Derivatives

By Editors | 26/06/2022

SEBI asked large market participants to recommend risk management measures needed to allow FPI participation in exchange-traded commodity derivatives.

RBI Gets Recommendations on Streamlining Regulatory Requirements

By Editors | 25/06/2022

The RBI’s Regulations Review Authority has also recommended the total elimination of paper-based returns.