REGULATIONS


Moneylife Digital Team 21 October 2021
Market regulator SEBI has warned registered investment advisers (IAs) not to engage in the unregulated activity by providing a platform for buying, selling or dealing in unregulated products, including digital gold.   In a statement, the market regulator says, “Undertaking such...

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The Reserve Bank of India has imposed monetary penalties on two payment system operators -- Paytm Payments Bank Ltd (PPBL) and Western Union Financial Services Inc (WUFSI) -- as deficiencies were found in regulatory compliance.   The RBI imposed a Rs 1 crore monetary penalty on Paytm...

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Moneylife Digital Team 19 October 2021
The National Stock Exchange (NSE) has expelled Chennai-based First Futures And Stocks Pvt Ltd due to a shortfall of client funds and non-resolution of investor complaints. With this expulsion, the number of brokers expelled by NSE since January 2018 has gone to 35.   In a release, the...

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Moneylife Digital Team 18 October 2021
Market regulator Securities & Exchange Board of India (SEBI) has asked registrars to issue and share transfer agents (RTAs) to transmit securities in favour of surviving joint-holder(s) in the event of the demise of one or more joint holder(s).     In a circular, SEBI says,...

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Moneylife Digital Team 18 October 2021
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs1.95 crore on Standard Chartered Bank - India (StanChart) for non-compliance with RBI's directions on customer services.    RBI found StanChart failed to credit the amount involved in the unauthorised electronic...

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Venkatachari Jagannathan (IANS) 18 October 2021
Transparency is certainly at a premium in cash-rich Insurance Regulatory and Development Authority of India (IRDAI) that had earned over about Rs268 crore during FY19-20, mostly from policyholders and has fixed deposits of over Rs1,450 crore, a senior official said.   While...

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Moneylife Digital Team 18 October 2021
Recent changes made by the Securities and Exchange Board of India (SEBI) will tighten the rules governing related-party transactions (RPT) and ease the delisting process, says Fitch Ratings.   In a note, the ratings agency says, "The revised RPT norms will widen the scope of scrutiny...

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Sucheta Dalal Sucheta Dalal 14 October 2021
The Securities and Exchange Board of India (SEBI) has been meeting various algo retailers and brokers to examine what kind regulatory framework is needed. After I flagged the issue in July this year, several developments may have nudged the regulator to act, before it is forced to react to a...

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Moneylife Digital Team 12 October 2021
Updated to include clarification from Mr Shailesh Haribhakti   The Reserve Bank of India (RBI) has barred Haribhakti & Co LLP from auditing companies regulated by RBI for two years starting from April next year. This is for the first time that RBI has taken action against an auditor...

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Moneylife Digital Team 12 October 2021
Market regulator Securities and Exchange Board of India (SEBI) is about to initiate action and revoke the licence of credit rating agency (CRA) Brickwork Ratings India Pvt Ltd, says a report quoting two people with knowledge of the development.   In the report, The Mint says, "At...

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Moneylife Digital Team 08 October 2021
Market regulator Securities and Exchange Board of India (SEBI) has issued the following directions to National Commodity & Derivatives Exchange Limited (NCDEX) today, in respect of trading in Mustard Seed contracts:    1. No new Mustard Seed contract shall be launched till further...

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Moneylife Digital Team 07 October 2021
The Bombay High Court (HC) on Thursday dismissed a petition filed by promoters of Srei group against Reserve Bank of India’s (RBI) decision to supersede the boards of two non-banking finance companies (NBFCs) of the group and initiated insolvency proceedings in both cases.   In its...

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Moneylife Digital Team 06 October 2021
The Reserve Bank of India's (RBI's) securitisation and asset transfer guidelines are favourable for the structured finance market. Still, it is credit neutral for rated Indian asset-backed security (ABS) transactions because most of the additional items prescribed are already considered in...

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The board of IL&FS Transportation Networks Ltd (ITNL), a subsidiary of beleaguered infrastructure financier IL&FS, has accepted the resignation of its statutory auditor SRBC & Co LLP.   The SRBC tendered its resignation from all assignments of ITNL earlier after audit regulator...

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All is not well in the government insurance sector with regard to elevation of officials, it seems.   Recently, orders by two different High Courts, in a matter of two months, relating to non-promotion of insurance industry experts, has shocked the sector.   In both cases, the...

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Moneylife Digital Team 05 October 2021
The Securities and Exchange Board of India (SEBI) has barred CNBC Awaaz anchor Pradeep Pandya, market expert Alpesh Furiya and four others till further orders, for fraudulent and unfair trade practices in the securities market. SEBI has also ordered impounding of gains of about Rs8.4 crore...

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Ian MacDougall for ProPublica 05 October 2021
This story was originally published by ProPublica.   Since 2008, McKinsey & Company has regularly advised the Food and Drug Administration’s drug-regulation division, according to agency records. The consulting giant has had its hand in a range of important FDA projects, from...

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Market regulator SEBI has barred the usage of pool accounts for transactions in units of mutual funds (MFs) on stock exchange platforms.   Presently, funds and units of mutual fund schemes move through stock brokers' or clearing members' pool accounts in an aggregate manner to client...

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In order to bring about transparency in the Investor Grievance Redressal Mechanism, market regulator SEBI has decided that all the stock exchanges and clearing corporations will now disclose complete data on complaints received against them and the redressals thereof on their...

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In an interesting development, the government has divested the Central Board of Direct Taxes Chairman from the added responsibility of overseeing and coordination of all matters pertaining to tax investigations and made the Member, Investigation, the sole authority over this key...

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