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AML / KYC
India to Restrict Foreign Ownership of Pension Funds
By Editors | 23/06/2020
Under draft rules, government approval will be required for investment in an Indian pension fund from land-border countries including China; a 49% cap is proposed for other foreign investors.
Enforcement
High-level Panel Proposes Overhaul of SEBI Enforcement Mechanism
By Editors | 18/06/2020
The panel says intermediary regulations need to be amended to speed up enforcement action, and that SEBI should be granted the authority to seize assets subject to investigation.
Securities / Derivatives
SEBI Relaxes Norms to Fast-track Further Public Offers
By Editors | 11/06/2020
FPOs will still be allowed to proceed if show cause notices or prosecution proceedings are still ongoing, or it securities law violations have been recently settled.
Securities / Derivatives
Indian Court Halts Franklin Templeton Fund Liquidation
By Editors | 10/06/2020
Franklin Templeton had planned to allow unitholders to vote on whether to allow six shuttered funds to be liquidated, but the Court says it must first release a forensic audit report on the funds in question.
Fintech / Regtech
SEBI Launches Regulatory Sandbox for Capital Market Participants
By Editors | 08/06/2020
Regulated entities will be granted facilities and flexibilities to experiment with fintech solutions in a live environment, on a limited set of real customers, for a limited time frame.
Enforcement
SEBI Orders Special Audit of Shuttered Franklin Templeton Funds
By Editors | 03/06/2020
A forensic audit firm has reportedly been tasked with determining whether Franklin Templeton colluded with bond issuers and if conflicts of interest were present at the firm.
Securities / Derivatives
SEBI Panel Proposes Creation of ‘Social Stock Exchanges’
By Editors | 02/06/2020
Non-profit organisations should be allowed to directly list bonds on social stock exchanges housed within existing exchanges such as the BSE or NSE, the SEBI panel suggests.
AML / KYC
India to Tighten KYC Rules for Hong Kong, China FPIs
By Manesh Samtani | 26/05/2020
Alongside stricter KYC procedures during FPI registration, India may set a 10% beneficial ownership cap on foreign investment from China including Hong Kong.
Market Infrastructure
SEBI Allows Quicker Upgrades of ‘Cured’ Defaulters by Rating Agencies
By Editors | 25/05/2020
Companies may no longer need to wait months for their credit status to be upgraded after a default is ‘cured’ and payments are regularised.
Securities / Derivatives
SEBI Allows Debt Funds to Increase Exposure to G-Secs
By Editors | 23/05/2020
The flexibility has been granted for three months to ensure adequate liquidity in corporate bond funds, banking & PSU debt funds, and credit risk funds.
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