India

Anti-Money Laundering

SEBI Revises AML Guidelines for Securities Market Intermediaries

By Mark Johnston | 13/10/2023

The revisions lower the shareholding threshold for partners of a firm to be considered as beneficial owners from 15 to 10 percent, among other changes.

KYC & CDD

Bank of Baroda Ordered to Halt Mobile App Onboarding

By Editors | 13/10/2023

The action comes after it was reported in July that some bank employees onboarded fake customers to meet sign-up targets.

Capital Adequacy

RBI to Extend PCA Framework to Government NBFCs

By Editors | 12/10/2023

The RBI will extend the PCA framework to government NBFCs, except those in the “base layer”, from 1 October 2024.

Alternative Markets

SEBI Calls on AIFs to Develop and Adopt Code of Conduct

By Editors | 12/10/2023

The industry body for alternative investment funds would help to address their use by regulated entities to circumvent regulations.

Trading & Investment

SEBI Grants MCX Approval to Launch New Platform

By Mark Johnston | 11/10/2023

The new web-based commodity derivatives platform will launch on 16 October after being put on hold last month.

Capital Adequacy

SEBI Imposes Capital Rule on Execution-only Mutual Fund Platforms

By Editors | 10/10/2023

Category-II EOPs will be required to maintain at least INR 1 million (USD 12,000)  in capital with the stock exchange.

Cybersecurity

RBI Allows Banks to Introduce Card Token Facilities

By Editors | 09/10/2023

Card token creation has until now only been available through merchant applications or websites, not issuer banks.

Structural Regulation

SEBI Forms 16 Working Groups to Focus on Rule Simplification

By Editors | 09/10/2023

SEBI is additionally inviting suggestions from the public and regulated entities on ways to simplify, ease and reduce cost of compliance.

Payments & Settlements

India, UAE Sign Agreement to Interlink Payment Systems

By Editors | 09/10/2023

India will interlink the UPI with the UAE’s Instant Payments Platform. The RuPay switch and UAESWITCH card switches will also be interlinked.