India

Enforcement

India: NFRA Has Overriding Powers Over ICAI, Tribunal Rules

By Ajoy K Das | 06/12/2023

The NCLAT also clarified that NFRA has retrospective jurisdiction to investigate and take necessary action if required even for periods prior to its creation in 2018.

Securities / Derivatives

SEBI Implements Three-Day Timeline for IPO Listings

By Ajoy K Das | 06/12/2023

The new mandatory three-day timeline from IPO close to listing took effect on 1 December, and will benefit both issuers and investors.

Market Infrastructure

RBI, BOE Agree to Cooperate on CCIL Information Exchange

By Manesh Samtani | 03/12/2023

The BOE recognises the “primacy” of the RBI in supervising India-based CCPs and agrees to rely on home country regulation and supervision.

India’s IFSCA to Allocate IFSC Codes to IBUs at GIFT City

By Ajoy K Das | 01/12/2023

IFSC codes shall be used only for cross border remittances to IBUs in GIFT City, not in domestic payment systems.

SEBI to Amend Regulatory Framework for Special Situation Funds

By Editors | 30/11/2023

The revised framework proposes a dedicated supervisory framework for Special Situation Funds, and a prohibition on investing in related parties.

Fintech / Regtech

Indian Government Asks Banks to Ramp Up Cybersecurity Measures

By Ajoy K Das | 29/11/2023

A meeting with banks and payments firms was convened by federal authorities in the wake of recent disruptions at Uco Bank and Bank of Baroda

Securities / Derivatives

SEBI to Implement T+0 Settlement in Equities by March 2024

By Ajoy K Das | 29/11/2023

SEBI will implement same day settlement in equities trading by March 2024, and optional instantaneous settlement a year later.

Securities / Derivatives

SEBI Proposes to Grant Greater Trading Flexibilities to Company Insiders

By Ajoy K Das | 28/11/2023

The regulator has proposed revising its insider trading regulations to make it easier for senior management to trade in company shares.

Securities / Derivatives

SEBI to Introduce Regulatory Framework for Index Providers

By Ajoy K Das | 28/11/2023

SEBI approved a number of proposals at its board meeting on Saturday, including measures to provide NPOs greater fund raising flexibility.