India

Trading & Investment

RBI Asks Banks to Refrain from Large Bets Against Rupee – Report

By Ajoy K Das | 08/08/2024

RBI officials asked banks to “consider the existing position size the risk limit”, indicating it did not want them to add to existing bets against the rupee.

Anti-Money Laundering

India ED Has Pursued Over 5,000 ML Cases Since 2014

By Ajoy K Das | 08/08/2024

Minister of State for Home Affairs Nityanand Rai said 40 convictions have been secured under the the Prevention of Money Laundering Act.

Trading & Investment

SEBI Proposes Stricter Rules for Offshore Derivatives Issuance

By Ajoy K Das | 08/08/2024

Issuers will be required to maintain a separate dedicated FPI registration and prohibited from using Indian derivatives as the underlying.

Market Abuse

SEBI Imposes New Obligations on AMCs to Address Market Abuse

By Ajoy K Das | 07/08/2024

Fund managers are required to put in place a whistleblower mechanism and enhance their surveillance systems, internal controls and procedures.

Structural Regulation

SEBI Proposes to Streamline Rules for Entities with Listed NCDs

By Ajoy K Das | 07/08/2024

SEBI proposes to align the approval and authentication process for financial results of entities with listed NCDs to that of equity-listed entities.

Cryptocurrency

India Demands $86m in Back Taxes from Crypto Giant Binance

By Ajoy K Das | 06/08/2024

Binance is said to have earned more than $476mn in transaction fees from Indian customers between July 2017 and March 2024.

Model Risk

RBI Proposes Regulatory Principles for Managing Credit Models

By Ajoy K Das | 06/08/2024

Lenders using models from third parties have to ensure the contractual arrangements allow supervisory evaluations of the models by the RBI.

AI Risk & Governance

SEBI to Overhaul Approval Process for IPOs Using AI

By Ajoy K Das | 06/08/2024

A “template fill-in-the-blank IPO document” will be introduced and AI-based tools will be used to review the documents.

Trading & Investment

SEBI Proposes Standardised Timelines for Trading of Bonus Shares

By Ajoy K Das | 05/08/2024

The changes aim to create uniformity in the timelines for crediting and trading bonus shares across all issuers, SEBI said.