India

Enforcement

SEBI Proposes SRO Nomination Plan for Mutual Fund Distributors, Advisers

By Editors | 02/04/2019

A consultation proposes the creation of a nomination committee comprising external experts to recommend a self regulatory organisation for mutual fund distributors and advisers to curb mis-selling.

Market Infrastructure

NSE, SGX Reach Agreement on India Derivatives

By Editors | 01/04/2019

NSE and SGX have reportedly finalised an agreement that will enable SGX to offer trading in Nifty derivatives to Singapore investors through a special purpose vehicle operating as a broker at GIFT City.

Capital / Liquidity

Vijaya, Dena Banks Start Operating as Bank of Baroda Branches

By Editors | 01/04/2019

The state-backed three-way merger of Vijaya Bank, Dena Bank and Bank of Baroda has taken effect, creating India’s third largest lender.

Market Infrastructure

SEBI Updates Disaster Recovery Guidelines for Market Infrastructures

By Editors | 01/04/2019

Stock exchanges, depositories and clearing corporations must have in place business continuity plans and disaster recovery policies that ensure ‘zero data loss’

Enforcement

India’s PNB Fined for Non-Compliance with SWIFT Norms

By Editors | 27/03/2019

The fine is significant because it was at Punjab National Bank where the $1.8b fraud occurred that prompted the RBI’s order for banks to link their core systems with SWIFT.

Securities / Derivatives

SEBI Amends Norms on Mutual Fund Commissions, Disclosures

By Editors | 27/03/2019

SEBI has set a cap on up-fronting of trail commissions and amended disclosure rules to “protect the interests of investors.”

Fintech / Regtech

RBI to Issue Regulatory Sandbox Guidelines Within 2 Months

By Editors | 26/03/2019

The RBI will set up a regulatory sandbox and create an ecosystem which promotes collaboration in fintech, central bank governor Shaktikanta Das said on Monday.

Capital / Liquidity

RBI Again Defers Banks’ Implementation of New Accounting Standards

By Editors | 25/03/2019

The RBI has again deferred ‘until further notice’ the implementation of new accounting rules for banks, which could have forced banks to raise bad loan provisions by $16bn in H2, said Fitch.

Enforcement

SEBI Seeks Broader Powers to Pursue Securities Law Violations

By Editors | 25/03/2019

SEBI wants to be able to inspect the books of listed companies when it suspects any securities law violations, and to impose penalties for the manipulation of a company’s accounts.