INDIA

    Enforcement

    RBI Fines Multiple Payment Service Providers

    By Editors | 06/05/2019

    The RBI has fined prepaid payment instrument issuers, two US money transfer firms and Yes Bank for non-compliance with regulatory guidelines.

    Capital / Liquidity

    RBI Must Disclose Bank Inspection Reports – Supreme Court

    By Editors | 03/05/2019

    The RBI has been ordered by the India’s highest court to disclose its annual banking inspection report, which contains sensitive commercial information of banks.

    Market Infrastructure

    UPDATED – NSE Ordered to Pay Disgorgement in Co-Location Case

    By Editors | 01/05/2019

    NSE will also be prohibited from issuing an IPO and launching new derivatives products for six months. Two former managing directors also found to be guilty.

    Securities / Derivatives

    India Opens Foreign Investor Access to Municipal Bonds Market

    By Editors | 29/04/2019

    The RBI has extended the 2% cap on foreign investment in state development loans to also be allocated to municipal bonds.

    Capital / Liquidity

    SEBI Cuts Net Worth Requirements for Gift City Clearing Corporations

    By Editors | 29/04/2019

    SEBI slashes minimum net worth requirements for clearing corporations operating in India’s international financial services centre from 3 billion to 1 billion rupees.

    Securities / Derivatives

    NSE Raises Margins on Futures, Options with High Open Interest

    By Editors | 29/04/2019

    The National Stock Exchange of India has raised trading margins required for stock futures and options by up to 300%, depending on market wide position limits.

    Market Infrastructure

    RBI Extends LEI Deadlines for Non-Derivative Market Participants

    By Editors | 29/04/2019

    Participants in government securities, money markets and non-derivative forex markets will have until the end of this year to obtain LEIs.

    Securities / Derivatives

    SEBI Enables Greater Retail Access to REITs, InvITs

    By Editors | 24/04/2019

    The regulator has reduced the minimum subscription size and introduced defined trading lots for real estate and infrastructure investment trusts in India.

    Crypto / Digital Assets

    RBI Unveils Draft Framework for Regulatory Sandbox

    By Editors | 19/04/2019

    The framework details a comprehensive selection process to identify 10-12 entities to participate in the sandbox, including a 5 million rupee minimum net worth requirement.

    Enforcement

    Deloitte Indian Unit Under Investigation in IL&FS Case

    By Editors | 16/04/2019

    A letter from a whistleblower at Deloitte’s local India unit has triggered a malpractice investigation into its role as auditor for the troubled IL&FS group.

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