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Enforcement
SEBI Fines Credit Rating Agencies Over IL&FS Failures
By Editors | 30/12/2019
Three rating agencies were fined for failing to recognise and quickly respond to deteriorating financial conditions at IL&FS, whose defaults last September triggered a liquidity crisis.
Securities / Derivatives
SEBI Introduces Mandatory Stewardship Code for Fund Managers
By Editors | 28/12/2019
The new stewardship code will help institutional investors protect their clients’ wealth, improve corporate governance, and promote the development and regulation of the securities market.
Enforcement
SEBI Establishes Insider Trading Whistleblower Protection Office
By Editors | 28/12/2019
The ‘Office of Informant Protection’ is charged with receiving and processing information on insider trading disclosed by whistleblowers, and with protecting their identities.
Securities / Derivatives
SEBI to End Usage of Pool Accounts for Mutual Fund Transactions
By Editors | 26/12/2019
SEBI found that trading and clearing members used by mutual funds were diverting client funds and securities to meet their own or third-party margin or settlement obligations.
Securities / Derivatives
SEBI Restricts FPI Service Provisioning by Local Asset Managers
By Editors | 18/12/2019
Asset management companies can provide management and advisory services to “appropriately regulated entities” such as pension funds, insurance companies, banks and mutual funds.
Market Infrastructure
India Passes Bill to Establish Unified Regulator for IFSCs
By Editors | 17/12/2019
In addition to regulating Gift City, the new authority will be responsible for any other international financial services centre set up in India in the future.
Enforcement
SEBI Bans Fidelity Trader and Family Members for Front-Running
By Editors | 10/12/2019
The trader used non-public information to front-run impending trades of Fidelity Group entities with his mother and sister’s trading accounts from Hong Kong.
Securities / Derivatives
SEBI Proposes Mandatory Benchmarking of Alternative Investment Funds
By Editors | 09/12/2019
Alternative investment funds with at least a three-year track record will have to be benchmarked against industry peers and their performance disclosed to investors.
Enforcement
Major Indian Bourses Suspend Karvy Trading Licences
By Editors | 04/12/2019
BSE, NSE, MCX, MSEI suspend Karvy Stock Broking; NSDL returns to 90% of clients the securities that were illegally pledged at lenders by Karvy.
Securities / Derivatives
SEBI Sets Earlier Cut-Off Time for Commodity Margin Computations
By Editors | 03/12/2019
The 5pm cut-off, compared to 11.30pm currently, will make it easier for trading members to compute and collect client margins, effective from April 2020.
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