Policy

SEBI to issue Closing Auction Session framework after receiving over 3,500 comments

• SEBI will examine the responses before proceeding with the framework
• The regulator received more than 3,500 comments on the proposed mechanism
• The framework may change closing-price processes for Indian stock exchanges and listed companies

SEBI developing second surveillance system to flag bad actors at listed firms and small IPOs

• The system will also scrutinise companies seeking to enter capital markets through small IPOs
• SEBI Whole-Time Member Kamlesh Varshney said the focus includes identifying “bad elements” among listed entities
• Tighter screening may affect small-IPO issuers and Indian listed companies

India needs trust-driven capital markets; SEBI reviewing derivative expiry settlement rules: Tuhin Kanta Pandey

FPI investments driven by net returns; Working to simplify access: SEBI chief Tuhin Kanta Pandey

SEBI may keep independent director workshops voluntary

• SEBI may keep independent director workshops voluntary; the first programme is likely after Diwali
• BCAS, NISM and exchanges are working on the framework
• Affects listed companies’ board-governance requirements and compliance costs

SEBI penalises SMC Global Securities over compliance and supervision lapses

• SEBI found SMC Global Securities failed to maintain appropriate pre-order placement records for certain clients
• The penalty concerns lapses in supervising an authorised person
• The penalty adds regulatory risk for SMC Global Securities and its shareholders