India

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    Securities / Derivatives

    SEBI Extends Ban on JM Financial to One Year

    By Ajoy K Das | 21/06/2024

    SEBI initially barred JM Financial in March from acting as lead manager for any new public issue of debt for 60 days. The ban is extended until 31 March 2025.

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    Market Infrastructure

    SEBI Issues Framework for System Audits of Clearing Members

    By Ajoy K Das | 20/06/2024

    System audits should encompass “all the IT resources” of professional clearing members to identify any “major or minor non-compliances”.

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    Fintech / Regtech

    RBI Invites Applications for Recognition as NBFC Sector SROs

    By Ajoy K Das | 20/06/2024

    SROs will be expected to develop standards for NBFCs, implement suitable surveillance, and share sectoral information with the RBI.

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    Securities / Derivatives

    SEBI Mulls Measures to Contain Derivatives Trading Risks

    By Ajoy K Das | 19/06/2024

    SEBI is considering raising options margin requirements, enhancing disclosures, and changing brokers’ fee structures, among other measures.

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    Crypto / Digital Assets

    Indian Court Rules Crypto Dealings Are Not Illegal

    By Ajoy K Das | 19/06/2024

    The court said that mere dealing in cryptocurrency “cannot be treated as illegal in any manner” as existing financial laws do not define it as ‘money’.

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    Sanctions

    Indian Banks Calls on Government to Set Up “OFAC Cell”

    By Editors | 16/06/2024

    Bankers say an “OFAC cell” created within the DFS could help them minimise the risks of sanctions non-compliance.

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    Securities / Derivatives

    SEBI Tweaks Process for Allocating OFS Shares to Employees

    By Ajoy K Das | 14/06/2024

    SEBI said employees will still be required to place bids on T+1, but such bids must be placed at the previous day’s cut-off price.

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    RBI Allows Banks to Give Importers Extra Operational Flexibility

    By Ajoy K Das | 13/06/2024

    Banks maintaining special rupee vostro accounts are permitted to open an “additional special current account” for importers.

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    Securities / Derivatives

    SEBI Launches Free Programme to Boost Investor Education

    By Ajoy K Das | 12/06/2024

    The investor certification examination aims to enhance digital financial education about investing in the Indian securities market.

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    Fintech / Regtech

    RBI Announces Launch of Global Anti-Fraud Hackathon

    By Ajoy K Das | 12/06/2024

    The RBI is inviting innovations and solutions on real time prediction, detection and prevention of fraud in financial transactions.

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