India

Anti-Money Laundering

India FIU Imposes $2.25m Penalty on Crypto Exchange Binance

By Editors | 21/06/2024

Binance will pay the penalty as part of a push to re-enter the Indian market after its website and app were blocked in the country around six months ago.

Market Abuse

SEBI Extends Ban on JM Financial to One Year

By Ajoy K Das | 21/06/2024

SEBI initially barred JM Financial in March from acting as lead manager for any new public issue of debt for 60 days. The ban is extended until 31 March 2025.

Clearing & Post-Trade

SEBI Issues Framework for System Audits of Clearing Members

By Ajoy K Das | 20/06/2024

System audits should encompass “all the IT resources” of professional clearing members to identify any “major or minor non-compliances”.

Structural Regulation

RBI Invites Applications for Recognition as NBFC Sector SROs

By Ajoy K Das | 20/06/2024

SROs will be expected to develop standards for NBFCs, implement suitable surveillance, and share sectoral information with the RBI.

Trading & Investment

SEBI Mulls Measures to Contain Derivatives Trading Risks

By Ajoy K Das | 19/06/2024

SEBI is considering raising options margin requirements, enhancing disclosures, and changing brokers’ fee structures, among other measures.

Cryptocurrency

Indian Court Rules Crypto Dealings Are Not Illegal

By Ajoy K Das | 19/06/2024

The court said that mere dealing in cryptocurrency “cannot be treated as illegal in any manner” as existing financial laws do not define it as ‘money’.

Cryptocurrency

‘Gemini Earn’ Investors Secure Full Recovery of Crypto Assets

By Editors | 18/06/2024

The NYAG’s claims against Gemini are now fully resolved, with Gemini Earn users receiving full recovery of the digital assets owed to them.

PEPs & Sanctions

Indian Banks Calls on Government to Set Up “OFAC Cell”

By Editors | 16/06/2024

Bankers say an “OFAC cell” created within the DFS could help them minimise the risks of sanctions non-compliance.

Trading & Investment

SEBI Tweaks Process for Allocating OFS Shares to Employees

By Ajoy K Das | 14/06/2024

SEBI said employees will still be required to place bids on T+1, but such bids must be placed at the previous day’s cut-off price.