India

Cybersecurity

RBI Finalises New Master Directions on IT Governance

By Ajoy K Das | 08/11/2023

The master directions, effective from 1 April 2024, specify the IT governance responsibilities of the board and senior management.

PEPs & Sanctions

New York State Fines Payments Company for Weak Sanctions Controls

By Editors | 07/11/2023

Payoneer settles with New York State for USD 1.2 million for compliance failings after paying OFAC USD 1.4 million in 2021.

Payments & Settlements

SEBI Working on Allowing Instant Settlement in Equities Trading

By Ajoy K Das | 07/11/2023

SEBI is exploring instant settlement in a “non-disruptive manner” and will only introduce it after all concerns are addressed, an official said.

Conduct, Culture & Accountability

India AMCs Get New Guidance on Display of Returns

By Ajoy K Das | 07/11/2023

The new guidelines are a response to concerns from SEBI that some AMCs have been engaging in misleading advertising.

Data Privacy

IRDAI Directs Insurers to Join RBI’s Account Aggregator Ecosystem

By Ajoy K Das | 03/11/2023

The inclusion of insurance firms in the AA ecosystem is expected to benefit agents, mutual fund distributors, and other service intermediaries.

Trading & Investment

SEBI Revises Offer Document Format for Mutual Fund Schemes

By Ajoy K Das | 03/11/2023

The simplified format will streamline the dissemination of information to mutual fund investors.

Payments & Settlements

RBI Announces Regulatory Framework for Cross Border Transactions

By Ajoy K Das | 02/11/2023

Non-banks facilitating import and export payment transactions must initially have a minimum net worth of INR 150 million.

Structural Regulation

India Paves the Way for Foreign Listing of Public Companies

By Ajoy K Das | 02/11/2023

One of the first jurisdictions that will be permitted is expected to be GIFT City. Other foreign jurisdictions will be considered thereafter.

Anti-Money Laundering

India Tightens Beneficial Interest Disclosure Rules for LLPs

By Ajoy K Das | 01/11/2023

The disclosures will ensure transparency of the identity of the ultimate person behind the LLPs including related party transactions.