India

Market Infrastructure

RBI Issues Draft Framework for SROs of Regulated Entities

By Ajoy K Das | 23/12/2023

The framework sets out the responsibilities of SROs, expectations on governance, and eligibility criteria for recognition as SROs.

Fintech / Regtech

RBI Enables Card-on-File Tokenisation at Issuer Level

By Ajoy K Das | 22/12/2023

Token generation by card issuing banks and institutions will be possible with cardholder consent and AFA validation.

Market Infrastructure

SEBI Directs Clearinghouses to Back-up Risk Management Systems

By Ajoy K Das | 22/12/2023

Clearing corporations should be able to a SaaS-based RMS within 30 minutes in the event of a disruption with their existing RMS.

Securities / Derivatives

IFSCA Working Group Issues Recommendations on Direct Listing Framework

By Ajoy K Das | 22/12/2023

The report suggests two models to enable direct listings by Indian companies at GIFT City exchanges.

Market Infrastructure

SEBI Directs FMIs to Self-Assess Compliance With PFMIs

By Ajoy K Das | 21/12/2023

Depositories and clearing corporations are directed to assess their compliance with the PFMIs on a periodic basis and report the results to SEBI.

Capital / Liquidity

RBI Bars Lenders from Investing in Debtor Firms via AIFs

By Ajoy K Das | 21/12/2023

Lenders are prohibited from investing in AIF schemes that have downstream investments in companies that owe money to the lender.

AML / KYC

SEBI Simplifies Rules for Obtaining ‘Accredited Investor’ Status

By Ajoy K Das | 19/12/2023

Certain documentary requirements are removed, certification will be granted based solely on KYC and financial information, and the validity period is lengthened.

Enforcement

Appellate Court Sets Aside SEBI Penalties Against NSE, Officials

By Ajoy K Das | 19/12/2023

The penalties were imposed in June 2022 over the alleged exploitation of NSE’s internet infrastructure by brokers for faster connectivity.

Securities / Derivatives

GIFT City’s Bullion Exchange IIBX Launches Trading in Silver

By Ajoy K Das | 18/12/2023

The launch of the silver trading platform will bring fair and transparent trade in the precious metals, said IIBX CEO Ashok Gautam.