Non-profit Organisations Can Directly List on Social Stock Exchanges: Sebi Panel

News: Sebi-constituted panel under the chairmanship of Ishaat Hussain has submitted its recommendations on social stock exchange(SSE). Facts: Key Recommendations: Direct listing of non-profit organisations(NGO) through the issuance of bonds and a range of funding mechanisms. Tax Sops: It has recommended exemptions from securities transaction tax (STT) and capital gains tax (CGT) to ensure that… Continue reading Non-profit Organisations Can Directly List on Social Stock Exchanges: Sebi Panel

Sebi puts in place guidelines for listed REIT, InvIT on rights issue

News:The Securities and Exchange Board of India(SEBI) has announced guidelines pertaining to rights issue of units by listed real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). Facts: Key features of the guidelines: The issuer will have to disclose objects of the issue, related-party transactions, valuation, financial details, review of credit rating and the… Continue reading Sebi puts in place guidelines for listed REIT, InvIT on rights issue

SC stays SAT order holding that Sebi lacks power to bar auditors

News:The Supreme Court stayed an order of the Securities Appellate Tribunal (SAT) which had held that markets watchdog Sebi does not have the power to bar auditors. Facts: Background: The Securities and Exchange Board of India(SEBI) had filed an appeal in the Supreme Court against the SAT’s order.  The Securities Appellate Tribunal(SAT) in its order… Continue reading SC stays SAT order holding that Sebi lacks power to bar auditors

SEBI sets up panel to suggest norms for social stock exchanges

News:Securities and Exchange Board of India(SEBI) has constituted a working group on Social Stock Exchanges (SSE). Facts: In Budget 2019,Finance Minister had proposed a social stock exchange for social enterprises and voluntary organisations working for social welfare to help them raise capital through debt, equity and mutual fund. About the working group: The working group… Continue reading SEBI sets up panel to suggest norms for social stock exchanges

SEBI tightens norms for liquid funds

News:The Securities and Exchange Board of India (Sebi) has released a circular on risk management framework for liquid funds. Facts: About Liquid funds: Liquid funds belong to the debt category of mutual funds. They invest in very short-term market instruments like treasury bills, government securities among others. They are getting popular with retail investors due… Continue reading SEBI tightens norms for liquid funds

SEBI announces reward of Rs 1 crore to insider trading informants

Securities and Exchange Board of India(SEBI) has approved a detailed set of rules for the new ‘Informant Mechanism’ under its Prohibition of Insider Trading Regulations. However,these rules would only be available to individuals and corporates.But professionals like auditors will not be able to use this route as they are duty-bound to report any wrongdoing. Insider… Continue reading SEBI announces reward of Rs 1 crore to insider trading informants

SEBI should handle proxy firms’ disputes’

Securities and Exchange Board of India(SEBI) had set up a working group on issues related to proxy advisors in 2018.The group was headed by Sandeep Parekh. Proxy adviser is a person who provides advice to institutional investors or shareholder of a company in relation to exercise of their rights in the company including recommendations on… Continue reading SEBI should handle proxy firms’ disputes’

Centre rejects SEBI plea to amend provision for transferring reserves

The Finance Ministry has refused to accept the request from the Securities and Exchange Board of India(SEBI) to amend the provision that mandates transferring 75% of the market regulator’s surplus funds to the central government. SEBI had written to the government seeking a review of the Budget proposal that mandates transferring 75% of the market… Continue reading Centre rejects SEBI plea to amend provision for transferring reserves

SEBI opposes Centre’s proposal to transfer surplus money to CFI

Securities and Exchange Board of India(SEBI) has written to the government seeking a review of the Budget proposal that mandates transferring 75% of the market regulator’s surplus funds to the central government SEBI said that the proposal would result in compromising its autonomy and its ability to function effectively towards the progress and development of… Continue reading SEBI opposes Centre’s proposal to transfer surplus money to CFI

SEBI gets teeth to probe new-age cases

The Finance Bill,2019 has given the Securities and Exchange Board of India (SEBI) new powers to act against entities that tamper or destroy electronic databases or fail to furnish information. The bill has introduced section 15HAA in the SEBI Act.The section states that if a person tampers with information to obstruct or influence an investigation,destroys… Continue reading SEBI gets teeth to probe new-age cases