India

Climate Risk

NYDFS Finalises Guidance on Climate Risk Management

By Manesh Samtani | 27/12/2023

NYDFS has finalised the guidance but plans to first collect information from regulated organisations before establishing any concrete implementation timelines.

Structural Regulation

India Competition Commission Proposes New Penalty Computation Rules

By Ajoy K Das | 27/12/2023

The CCI says indirect taxes, trade discounts and intra-group sales will be excluded from turnover when calculating penalties for competition law violations.

Conduct, Culture & Accountability

India’s NFRA Detects Deficiencies in Big Four Audit Processes

By Ajoy K Das | 26/12/2023

The National Financial Reporting Authority published inspection reports of BSR & Co, Deloitte Haskins & Sells, SRBC & Co and Price Waterhouse Chartered Accountants.

Payments & Settlements

SEBI Consults on Introducing Same Day Settlement of Equity Trades

By Ajoy K Das | 26/12/2023

The consultation paper proposes that T+0 settlement would be optional alongside the existing T+1 settlement system.

Structural Regulation

RBI Issues Draft Framework for SROs of Regulated Entities

By Ajoy K Das | 23/12/2023

The framework sets out the responsibilities of SROs, expectations on governance, and eligibility criteria for recognition as SROs.

Payments & Settlements

RBI Enables Card-on-File Tokenisation at Issuer Level

By Ajoy K Das | 22/12/2023

Token generation by card issuing banks and institutions will be possible with cardholder consent and AFA validation.

Clearing & Post-Trade

SEBI Directs Clearinghouses to Back-up Risk Management Systems

By Ajoy K Das | 22/12/2023

Clearing corporations should be able to a SaaS-based RMS within 30 minutes in the event of a disruption with their existing RMS.

Structural Regulation

IFSCA Working Group Issues Recommendations on Direct Listing Framework

By Ajoy K Das | 22/12/2023

The report suggests two models to enable direct listings by Indian companies at GIFT City exchanges.

Structural Regulation

SEBI Directs FMIs to Self-Assess Compliance With PFMIs

By Ajoy K Das | 21/12/2023

Depositories and clearing corporations are directed to assess their compliance with the PFMIs on a periodic basis and report the results to SEBI.