Sebi proposes online monitoring framework for stockbroker audits
3 months, 3 weeks ago

Sebi proposes online monitoring framework for stockbroker audits

Live Mint  

The Securities and Exchange Board of India has proposed a new online system to improve the monitoring and supervision of stockbrokers' system audits. This proposal, aimed at enhancing audit quality and accountability, will create a web-based platform for stock exchanges to oversee the system audit process for brokers in real-time. These risks include audits conducted without physical visits to stockbrokers’ premises, poor audit quality due to insufficient sample sizes and inadequate evidence, and audits performed by non-qualified auditors. Under the new framework, stock exchanges will monitor every stage of the audit process, from pre-audit requirements to the final audit report submission. The new system also mandates that auditors submit evidence of the audit process on the portal, including records, reports, and systems tested.

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History of this topic

Disclosure rules on related-party transaction
1 month, 1 week ago

Disclosure rules on related-party transaction

New Indian Express  

NEW DELHI: Markets regulator Sebi on Saturday introduced industry standards for the minimum information that listed entities are need to provide to the audit committee and shareholders when seeking approval for the related-party transactions. The Industry Standards Forum comprising representatives from three industry associations -- ASSOCHAM, CII and FICCI -- have formulated these standards for minimum information to be provided …

SEBI Mandates Online Document Repository for Merchant Bankers Starting Jan 2025
3 months, 3 weeks ago

SEBI Mandates Online Document Repository for Merchant Bankers Starting Jan 2025

Deccan Chronicle  

The Securities and Exchange Board of India has directed all merchant bankers to electronically upload records and documents related to due diligence in public issue activities on a dedicated Document Repository platform set up by stock exchanges. This requirement applies to draft offer documents filed on or after January 1, 2025, for listing on both mainboard and SME exchanges.The Document …

Sebi proposes revisions to custodian regulations
4 months, 2 weeks ago

Sebi proposes revisions to custodian regulations

Live Mint  

The Securities and Exchange Board of India has issued a consultation paper seeking feedback on proposed updates to the Sebi Regulations, which govern the operations of custodians in the Indian securities market. Given the importance of custodians in ensuring smooth market operations, especially for institutional investors, the consultation paper proposes several changes to enhance regulatory oversight and operational resilience. Sebi …

SEBI Releases Master Circular On Surveillance of Securities Market
8 months, 2 weeks ago

SEBI Releases Master Circular On Surveillance of Securities Market

Live Law  

The Securities and Exchange Board of India has recently issued Master Circular on the Surveillance of the Securities Market. Under the new guidelines, SEBI mandates that trading in certain securities, including those affected by corporate actions such as mergers, demergers, and capital reductions, must initially occur in the Trade for Trade segment. The circular stated that such misinformation, often disseminated …

SEBI Extends Pre-Open Call Auction Session To 60 Minutes To Curb IPO Pricing Manipulation
9 months ago

SEBI Extends Pre-Open Call Auction Session To 60 Minutes To Curb IPO Pricing Manipulation

Live Law  

The Securities and Exchange Board of India has introduced modifications to the call auction session conducted during the pre-open period on stock exchanges. Effective from the 90th day after the issuance of the circular dated June 20, 2024, the new framework extends the duration of the pre-open call auction session to 60 minutes, commencing at 9:00 a.m. This system-driven random …

SEBI Issues Comprehensive Master Circular For ESG Rating Providers
10 months ago

SEBI Issues Comprehensive Master Circular For ESG Rating Providers

Live Law  

The Securities and Exchange Board of India has released a Master Circular specifically aimed at Environmental, Social, and Governance Rating Providers. This circular, announced on July 12, 2023, consolidates existing guidelines and regulations under the Securities and Exchange Board of India Regulations, 1999 The Master Circular serves as a single reference point for all procedural and disclosure requirements applicable to …

SEBI’s latest framework to administer investment advisers, research analysts | Explained
10 months, 1 week ago

SEBI’s latest framework to administer investment advisers, research analysts | Explained

The Hindu  

The story so far: Capital markets regulatorSecurities and Exchange Board of India on May 2 introduced a framework for better administration and supervision of Research Analysts and Investment Advisers. SEBI has clarified that both supervisory bodies would come under the purview of a single stock exchange. This is to ensure “efficiency in the system and economies of scale.” However, as …

SEBI Notifies Modification In Cyber Security, Cyber Resilience Framework Of Stock Exchanges, Clearing Corporations & Depositories
1 year, 7 months ago

SEBI Notifies Modification In Cyber Security, Cyber Resilience Framework Of Stock Exchanges, Clearing Corporations & Depositories

Live Law  

In a recent development, the Securities and Exchange Board of India has announced a notable modification in the Cyber Security and Cyber Resilience framework for Stock Exchanges, Clearing Corporations, and Depositories. SEBI's latest circular dated August 24, 2023, revises certain aspects of the existing cybersecurity guidelines. The revised framework mandates that Market Infrastructure Institutions must carry out comprehensive cyber audits …

SEBI Conducted Lower Inspections Of Brokers, Depository Participants In FY23, BSE Led NSE In Keeping Checks
1 year, 7 months ago

SEBI Conducted Lower Inspections Of Brokers, Depository Participants In FY23, BSE Led NSE In Keeping Checks

ABP News  

The Securities and Exchange Board of India conducted less inspections on stock brokers and depository participants in the fiscal year 2023, in comparison to the previous fiscal year. The market regulator issued a circular on Monday stating that in FY23, it conducted 87 inspections of stock brokers, about 5.4 per cent lower than the previous fiscal year, and 28 inspections …

SEBI proposes institutional mechanisms for AMCs to prevent market abuse, frauds
1 year, 10 months ago

SEBI proposes institutional mechanisms for AMCs to prevent market abuse, frauds

Live Mint  

SEBI has proposed that asset management companies should establish measures to prevent market abuse and fraudulent transactions. According to the draft paper, SEBI proposed that AMCs should implement effective surveillance systems and internal controls to prevent misconduct by employees and entities with access to information about fund management and investments. SEBI advised that escalation processes should be documented in the …

Sebi orders forensic audit of Future Retail’s financials
2 years, 7 months ago

Sebi orders forensic audit of Future Retail’s financials

Live Mint  

The Securities and Exchange Board of India has ordered a forensic audit of the financials of Future Retail, the company told the stock exchange on Thursday. Future Consumer, a subsidiary, said Sebi has written to Future Retail’s interim resolution professional intimating the appointment of Chokshi & Chokshi as the forensic auditors. According to the letter, the forensic audit was initiated …

Sebi quizzes Franklin over shutting of funds
4 years, 6 months ago

Sebi quizzes Franklin over shutting of funds

Live Mint  

The stock market regulator has questioned Franklin Templeton India’s tardiness in taking timely action to prevent the shuttering of its six debt schemes in April, two people aware of the matter said. The Securities and Exchange Board of India sent two sets of queries to the fund manager based on a forensic audit of its investments, the people cited above …

SEBI tightens norms for resignation of auditors
5 years, 5 months ago

SEBI tightens norms for resignation of auditors

India TV News  

In the wake of a number of resignations in listed companies off late, the Securities and Exchange Board of India on Friday floated stricter disclosure norms for resignation of auditors. "Sub-clause inserted under Clause A in Part A of Schedule III under Regulation 30of SEBI LODR Regulations requires detailed reasons to be disclosed by the listed entities to the stock …

SEBI mulls slew of reforms; tighter check on rating agencies, reward and hotline for informants
5 years, 7 months ago

SEBI mulls slew of reforms; tighter check on rating agencies, reward and hotline for informants

Firstpost  

New Delhi: With an aim to further safeguard investors’ interests and to take defaulters to the task, capital market regulator SEBI is planning to unveil a slew of reforms, including for greater checks on credit rating agencies and for rewarding informants in insider trading cases with up to Rs 1 crore reward. The regulator is also planning to ease its …

Sebi changes formats for limited review, audit reports
5 years, 8 months ago

Sebi changes formats for limited review, audit reports

India TV News  

Regulator Sebi on Friday tweaked the formats for limited review and audit report of listed entities in order to align it with the revised auditing standards. Providing new formats for audit report and limited review report in the circular, Sebi said that in view of revision in auditing standards by the Institute of Chartered Accountants of India, "audit report formats …

Sebi provides new format for compliance report on corporate governance
5 years, 8 months ago

Sebi provides new format for compliance report on corporate governance

India TV News  

Markets regulator Sebi Tuesday came out with a new format for compliance report on corporate governance to be submitted by listed companies to stock exchanges. In a circular, the regulator prescribed a new format for disclosures to be made on a quarterly basis, the annual basis for the whole of financial year and within six months from the end of …

Sebi comes up with revised system audit guidelines for MFs, AMCs
5 years, 11 months ago

Sebi comes up with revised system audit guidelines for MFs, AMCs

Live Mint  

Markets regulator Sebi Thursday came out with revised guidelines for system audit to be conducted by mutual funds and asset management companies. The guidelines come after "considering the importance of system audit in technology driven asset management activity and to enhance and standardise the system audit", Sebi said in a circular. Moreover, audit related to unit-holder administration and servicing systems …

Sebi seeks greater powers to inspect books of listed companies to thwart financial frauds
6 years ago

Sebi seeks greater powers to inspect books of listed companies to thwart financial frauds

Firstpost  

Sebi has proposed a heavy penalty for altering, destroying, mutilating, concealing or falsifying records and documents or other tangible objects New Delhi: With an aim to thwart financial frauds, regulator Sebi has sought powers to conduct inspection of books of accounts of listed companies for contravention of any securities law and also to take direct action against the fraudsters. The …

SEBI asks suspected shell companies to cooperate in forensic audits, warns of stringent trading curbs
6 years, 4 months ago

SEBI asks suspected shell companies to cooperate in forensic audits, warns of stringent trading curbs

Firstpost  

New Delhi: SEBI has asked over a dozen suspected shell companies to extend cooperation to ensure completion of forensic audits in a time-bound manner, failing which they would face stringent trading curbs. In a circular uploaded on BSE website on Monday, SEBI has advised as many as 13 companies “to cooperate with the audit firm to complete the forensic audit …

SEBI proposes new rules to penalise auditors, valuers: Is the market watchdog overstepping its mandate?
6 years, 8 months ago

SEBI proposes new rules to penalise auditors, valuers: Is the market watchdog overstepping its mandate?

Firstpost  

Curiously, while SEBI lays down duties as well as the punishment for auditors and others, it does not give them specific powers. The Securities and Exchange Board of India has proposed new rules to allow it to take direct action against auditors, valuers, company secretaries, among others. Earlier, the Bombay High Court, in 2010, had affirmed that the SEBI had …

Fingerprint, eye scan may be required for stock trade via mobile app: Sebi
6 years, 11 months ago

Fingerprint, eye scan may be required for stock trade via mobile app: Sebi

Hindustan Times  

With an aim to enhance cyber security, markets regulator Sebi is looking to put in place a new set of guidelines, wherein fingerprint or eye scan will be required for stock trading through mobile applications. In case of applications installed on smartphones and tablets, traders and retail investors may need biometric authentication to buy and sell stocks, according to Sebi’s …

Fraud at listed firms: Stock market regulator Sebi to rein in erring auditors, valuers
7 years ago

Fraud at listed firms: Stock market regulator Sebi to rein in erring auditors, valuers

Firstpost  

The proposed move assumes significance as the role of auditors and valuers has come under scanner in a number of high-profile cases such as the Satyam and Kingfisher frauds, as also the PNB scam, WhatsApp leak and the Fortis matter in the recent past New Delhi: Regulator Sebi is considering a new set of norms for auditors and other third-party …

Sebi permits convergence of stock, commodity exchanges; to be effective from Oct 2018
7 years, 3 months ago

Sebi permits convergence of stock, commodity exchanges; to be effective from Oct 2018

Firstpost  

Sebi’s move will allow major players like BSE, NSE to introduce commodity-backed financial instruments on their platforms, while MCX and NCDEX will be allowed to list equities and equity F&O The Securities and Exchange Board of India on Thursday gave its nod to the convergence of both equities and commodity-backed stocks on exchanges from October 2018. The move will allow …

New Sebi panel to review stock exchange norms
7 years, 5 months ago

New Sebi panel to review stock exchange norms

Live Mint  

The Securities and Exchange Board of India constituted a committee on Monday to review the norms for market infrastructure institutions such as stock exchanges, depositories and clearing corporations. After its 11 February board meeting, the regulator announced a comprehensive review of Stock Exchange and Clearing Corporation regulations, Securities Contracts Act and Sebi Depositories and Participants regulations and sought public comments. …

Sebi tightens norms for stock brokers to detect misutilisation of clients' funds
8 years, 6 months ago

Sebi tightens norms for stock brokers to detect misutilisation of clients' funds

Firstpost  

Stock brokers will now have to follow a uniform nomenclature for “naming/tagging of bank and demat accounts” and reporting of such accounts to stock exchanges and depositories New Delhi: Putting in place enhanced supervisory framework for stock brokers, Sebi has issued a detailed set of guidelines to monitor their financial strength and detect any misutilisation of clients’ funds. Besides, stock …

Sebi approves new listing norms for stock exchanges
9 years, 3 months ago

Sebi approves new listing norms for stock exchanges

Firstpost  

Sebi will also issue necessary procedures to ensure compliance of the provisions post listing. Mumbai: Paving the way for the stock exchanges, including BSE and NSE, to get listed, markets regulator Sebi today approved a new set of revised norms for the IPO and listing of the bourses. The new norms, which have been finalised after taking into account the …

Post NYSE Halt, SEBI, Exchanges Review Risk Management Systems
9 years, 8 months ago

Post NYSE Halt, SEBI, Exchanges Review Risk Management Systems

The Quint  

With a major ‘glitch’ causing nearly four-hour trading halt at the New York Stock Exchange last night, regulator Sebi and stock exchanges here have initiated an urgent review of the overall risks management and disaster recovery systems of the Indian markets. While there have been several cases of such ‘technical glitches’ hitting the stock exchanges abroad, the Indian markets have …

Sebi tightens corp disclosure norms; asks bourses to up vigil
11 years, 4 months ago

Sebi tightens corp disclosure norms; asks bourses to up vigil

India TV News  

Mumbai: Concerned over large-scale discrepancies in mandatory disclosures by listed firms, Sebi Monday tightened its regulations in this regard and asked bourses to put in place a stronger mechanism with additional manpower to monitor adequacy and accuracy of such disclosures. The companies would also have to provide the details of their promoters, directors and/or key management personnel who would be …

Sebi needs to step up criminal enforcement: EU market watchdog
11 years, 4 months ago

Sebi needs to step up criminal enforcement: EU market watchdog

Firstpost  

The European market regulator said that Sebi faces three main challenges that impact the effectiveness of its regulation on the securities market participants. New Delhi: European Esma has lauded Sebi for developing a robust surveillance and enforcement system but has called for a stepped-up criminal enforcement framework for capital market violations in India. “Based on such strong legal framework Sebi …

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