INDIA

Securities / Derivatives

SEBI Issues Compensation Guidelines for Fund Managers

By Editors | 05/05/2021

20% of compensation of key AMC employees must be paid in the form of units of the mutual fund schemes in which they have a role or oversight.

RBI to Require Banks, NBFCs to Seek Annual Auditor Approval

By Editors | 03/05/2021

Banks and NBFCs will be required to obtain approval for the appointment and reappointment of their statutory auditors on an annual basis.

Securities / Derivatives

SEBI Issues Guidelines for CRAs on Issuing Provisional Ratings

By Editors | 01/05/2021

Credit rating agencies cannot assign a rating, including provisional decisions, to an issuer or client evaluating strategic decisions.

ESG / Sustainability

RBI Joins Network for Greening the Financial System

By Editors | 29/04/2021

The RBI expects to benefit from the membership of NGFS by learning from and contributing to global efforts on green finance.

RBI Issues New Rules for Senior Bank Executives, Board Members

By Editors | 29/04/2021

Banks will have until 1 October 2021 to comply with new rules capping the tenure of top executives at 15 years.

Enforcement

RBI Restricts Amex, Diners Club for Data Storage Violations

By Editors | 26/04/2021

American Express and Diners Club were found to be non-compliant with the RBI’s 2018 directions requiring payment system data to be stored onshore.

Capital / Liquidity

RBI Lifts Bank Dividend Ban, Subject to New Limit

By Editors | 25/04/2021

Banks will be limited to paying only 50% of the amount prescribed in a 2005 circular, which already caps dividends at a 40% payout ratio.

RBI to Review Efficacy of Regulatory Framework for ARCs

By Editors | 21/04/2021

The RBI has set up an expert panel that will review the role of asset reconstruction companies in the resolution of stressed assets.

Enforcement

SEBI Fines Yes Bank, Three Others for Mis-selling AT1 Bonds

By Editors | 13/04/2021

SEBI says Yes Bank misled individual investors into buying risky AT1 bonds and did not inform them of the risks involved or conduct risk profiling.