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AML / KYC
India’s Cabinet Approves Personal Data Protection Bill
By Editors | 06/12/2019
Under the bill, major violations of data privacy norms can be penalised with jail terms, or monetary fines up to 150 million rupees or 4% of a company’s worldwide turnover, whichever is higher.
Enforcement
Major Indian Bourses Suspend Karvy Trading Licences
By Editors | 04/12/2019
BSE, NSE, MCX, MSEI suspend Karvy Stock Broking; NSDL returns to 90% of clients the securities that were illegally pledged at lenders by Karvy.
India’s DHFL to Undergo NCLT Bankruptcy Proceedings
By Editors | 03/12/2019
The National Company Law Tribunal has allowed the RBI to start insolvency proceedings against the troubled mortgage lender Dewan Housing Finance Limited under the new bankruptcy rules for financial firms.
Securities / Derivatives
SEBI Sets Earlier Cut-Off Time for Commodity Margin Computations
By Editors | 03/12/2019
The 5pm cut-off, compared to 11.30pm currently, will make it easier for trading members to compute and collect client margins, effective from April 2020.
Securities / Derivatives
SEBI Lists Permissible Jurisdictions for Depository Receipts Issuance
By Editors | 02/12/2019
Indian companies will be allowed to issue depository receipts on exchanges in the US, Japan, Korea, the UK, France, Germany, Canada, and India’s own international financial centre known as Gift City.
Enforcement
SEBI Probes Exchanges, Brokers for Failure to Detect Karvy Fraud
By Editors | 29/11/2019
An NSE audit found that Karvy Stock Broking pledged 20 million rupees in client securities with various lenders to raise funds for its own use.
Securities / Derivatives
Indian Exchanges Issue New Framework for Listing Commercial Paper
By Editors | 28/11/2019
The listing framework for commercial papers will lead to more transparency, a better disclosure regime and greater investor protection.
Securities / Derivatives
SEBI Approves New Rules for Portfolio Managers
By Editors | 23/11/2019
Among the rules are a higher net worth requirement for portfolio managers, a doubling of the minimum investment requirement for PMS funds, and mandatory appointment of a custodian.
Securities / Derivatives
SEBI Requires Listed Companies to Disclose Defaults Within 24 Hours
By Editors | 22/11/2019
Effective from 1 January, once a listed company falls 30 days behind on loan repayment it will have 24 hours to disclose the default, even before it is classified as an NPA by the lender.
Capital / Liquidity
India to Increase Deposit Insurance Limit – Reports
By Editors | 20/11/2019
India’s finance ministry plans to increase the deposit guarantee limit to protect consumers against bank failures.
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