India

Market Abuse

NSE To Approach SEBI on Co-Location Case

By Garima Chitkara | 13/08/2018

The exchange will begin dialogue with the regulator on alleged misuse of its co-location facility; NSE chief says the exchange’s IPO is on hold until the resolution of this case.

Market Abuse

Market Conduct Committee Calls for Greater Enforcement Powers for SEBI

By Garima Chitkara | 13/08/2018

A committee looking at fair market conduct has proposed greater powers for SEBI to go after insider trading, including the power to intercept phone and electronic communications.

Supervision & Enforcement

RBI Should Have Sole Supervisory Responsibility for PSBs – IMF

By Garima Chitkara | 13/08/2018

In its India Staff Report, IMF brought up the issue of dual regulation of state run banks and called for full supervisory control of these banks to be given to the RBI.

Trading & Investment

India’s Brokers Move Against Tax on Physically-Settled Equity Derivatives

By Garima Chitkara | 09/08/2018

Brokers’ lobby is asking the Bombay High Court for a resolution on an impasse between market participants and the NSE over a decision to levy a 0.1% tax on physically settled equity derivatives.

Structural Regulation

SEBI to Discontinue Sub-Brokers as Registered Market Intermediaries

By Garima Chitkara | 07/08/2018

Sub-brokers will no longer exist as a regulatory category at SEBI and will need to become trading members or authorised persons starting from 31 March 2019.

Fraud, Scams & Cybercrime

India Probes Metropolitan Stock Exchange for Fraud, Mismanagement

By Garima Chitkara | 06/08/2018

The MSEI is under investigation by the government of India and SEBI for alleged fraud and mismanagement, and has hired a forensic auditor to look into the allegations made by two whistleblowers.

KYC & CDD

RBI Probes KYC/AML Compliance at Payments Banks

By Editors | 06/08/2018

Paytm and Fino Payments Bank have been barred from accepting new clients due to the RBI’s concerns about their adherence to KYC/AML norms.

Credit Risk

Indian Banks Gear Up for RBI’s Second Asset Quality Review

By Garima Chitkara | 02/08/2018

RBI has reportedly sought details of specific stressed asset accounts to ensure recognition and provisions are in line with regulatory norms; S&P Global says current cycle of bad loans is likely to reverse within next financial year.

Payments & Settlements

New Phase of India’s Digital Payments Platform Likely in Mid-August

By Garima Chitkara | 02/08/2018

UPI 2.0 to be released in mid-August will include new features like inward remittances and overdraft facilities. It will exclude a recurring payments feature present in the current platform.