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Credit Risk
SEBI Issues Series of Risk-Reducing Measures for Debt Funds
By Sanday Chongo Kabange | 18/10/2020
The reforms include a new code of conduct, new responsibilities for debenture trustees, new fund labeling requirements, and restrictions on inter-scheme transfers, among others.
Clearing & Post-Trade
SEBI Orders Faster Liquidation of Defaulting Brokers’ Assets
By Editors | 01/10/2020
Stock exchanges and clearing corporations should sell brokers’ securities if debit balances are not cleared in 5 days, and to sell other broker assets six months after the default.
Trading & Investment
SEBI Guidelines for Investment Advisers Take Effect
By Duruthu E Chandrasekera | 29/09/2020
The guidelines, finalised in July, require investment advisors to only offer either advisory or distribution services to a client, but not both.
Liquidity Risk
SEBI Considers ‘Backstop Facility’ for Debt Mutual Funds
By Duruthu E Chandrasekera | 29/09/2020
The backstop facility would have to be able to buy relatively illiquid investment-grade corporate bonds from mutual funds in times of stress.
Conduct, Culture & Accountability
SEBI Quadruples Penalties Against CRAs Over IL&FS Failures
By Editors | 26/09/2020
In December, SEBI issued INR 2.5 million penalty orders against ICRA, India Ratings & Research and Care Ratings. This has been raised to INR 10 million.
Credit Risk
India Establishes Netting Certainty for Bilateral OTC Derivatives
By Manesh Samtani | 24/09/2020
Parliament passed a bill providing legal basis for bilateral netting of OTC derivatives contracts which are not centrally cleared.
Market Risk
SEBI Issues Risk Management Rules for Negative Commodity Prices
By Editors | 23/09/2020
Clearing corporations are directed to ensure their systems are ready to implement the alternate risk management framework by 21 November.
Trading & Investment
SEBI Modifies NAV Rules for Mutual Fund Schemes
By Sanday Chongo Kabange | 22/09/2020
The move is expected to create a more level playing field for all mutual fund investors and promote greater use of digital payment channels.
Trading & Investment
SEBI Directs Multi Cap Funds to Raise Exposure to Smaller Stocks
By Sanday Chongo Kabange | 14/09/2020
New guidelines will force multi cap funds to dump large cap stocks in favour of small- and mid-cap stocks by January 2021.
Credit Risk
SEBI Revises Mutual Fund Side Pocketing Standards
By Sanday Chongo Kabange | 08/09/2020
Previously, only debt securities downgraded below investment grade can be side pocketed. Side pocketing will be allowed for even higher-rated debts that are restructured due to Covid-19.
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