India

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    Capital / Liquidity

    RBI Proposes Harmonised Regulatory Framework for HFCs and NBFCs

    By Ajoy K Das | 18/01/2024

    The central bank proposes higher liquid assets for housing finance companies, smaller aggregate deposits, and permission to issue co-branded credit cards with banks.

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    Market Infrastructure

    India’s Proposal for T+0 Settlement Will Fragment Market: ASIFMA

    By Editors | 18/01/2024

    ASIFMA suggests that SEBI wait to see the impact from the US move to T+1 settlement before proceeding to a shorter settlement cycle in India.

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    Securities / Derivatives

    India’s MCX Launches Country’s First Steel Rebar Futures Contract

    By Ajoy K Das | 17/01/2024

    According the MCX circular, no premium or discount will be allowed based on grade, size or delivery centres.

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    Fintech / Regtech

    RBI Issues Draft Norms for Fintech SROs

    By Ajoy K Das | 16/01/2024

    Fintech SROs must strike a balance between facilitating innovation and implementing regulatory requirements that protect consumers and contain risks.

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    AML / KYC

    SEBI Modifies Rules for Foreign Investments in AIFs

    By Ajoy K Das | 15/01/2024

    SEBI updates threshold for determining beneficial ownership, extends mandatory custodian and dematerialisation requirements to reduce money laundering risks.

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    Securities / Derivatives

    SEBI Proposes to Ease Fundraising Rules for Listed Companies

    By Ajoy K Das | 15/01/2024

    SEBI proposes to allow certain public investors to contribute towards MPS without being classified as promoter

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    AML / KYC

    NYDFS Announces $8m Settlement With Genesis Global Trading

    By Editors | 15/01/2024

    Genesis Global Trading is also required to give up its BitLicense and cease all operations in New York as part of the settlement.

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    Crypto / Digital Assets

    MAS Grants In-principle Licence Approval to Crypto Custody Firm BitGo

    By Editors | 12/01/2024

    BitGo already obtained a New York trust charter in 2021 and a BaFin crypto custody licence in November 2023.

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    Market Infrastructure

    GIFT City Regulator Directs IBUs to Improve Cross-border Payments

    By Ajoy K Das | 09/01/2024

    IFSC Banking Units are asked to use Swift GPI and to explore how they can further speed up their processing of cross border payments.

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    Securities / Derivatives

    SEBI Tightens Rules for Disclosing Short Selling Trades

    By Ajoy K Das | 07/01/2024

    Institutional investors must disclose short selling transactions upfront. Individual investors must disclose the same at the end of each trading day.

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