The Securities and Exchange Board of India (Sebi) has sought an explanation from the National Stock Exchange (NSE) over allegations of some traders misusing its trading access point (TAP) software, The Economic Times (ET) reported on Thursday.
Allegedly, some high-frequency traders manipulated the platform in 2013 to execute "thousands of orders" without being detected and crowding out other users.
Securities and Exchange Board of India (Sebi) is likely to change the rules to start tracking investments flowing into local private equity (PE) and venture capital (VC) funds, The Economic Times (ET) reports.
The market regulator is doing this to identify the investors and the source of the money. In addition, Sebi also wants to check if PE and VC funds, also known as alternative investment funds (AIFs), are being misused, the report said.
Sebi has restructured its advisory committee on market data that recommends policy measures pertaining to areas like securities market data access and privacy.
Rejigging its market data advisory committee, Sebi has said the panel will now be chaired by S Sahoo, Professor at National Law University, Delhi and former chairperson, Insolvency and Bankruptcy Board of India (IBBI), as per the latest information with the regulator.
Sebi on Wednesday imposed a penalty of Rs 1.5 crore on Karvy Computershare (presently known as KFin Technologies) for redeeming its units in Taurus Mutual Fund on the basis of privileged information, pertaining to Ballarpur Industries default, available to it as RTA.
By redeeming all units in Taurus Liquid Fund and Taurus Ultra Short Term Bond Fund in February 2017, Karvy Computershare made unlawful gain of about Rs 1.2 crore, Sebi said in an order.
Sundaram Asset Management Company Ltd, the 100 per cent subsidiary of Sundaram Finance Ltd on Friday said it received the regulatory approval for the purchase of asset management businesses of Principal Asset Management Pvt Ltd.
Sundaram Asset Management Company would acquire the schemes managed by Principal India and acquire 100 per cent of the share capital of Principal Asset Management Pvt Ltd, a company statement said here.
Market regulator Sebi wants IPO advertisements to display risk factors prominently. Also, Sebi wants the acquisition cost of all transactions in three years prior to the listing to be a part of the risk factors.
The risk to investors shall include weighted average cost of acquisition of all shares transacted in last three years and one year, from the date of red herring prospectus, Sebi has said in a communication to investment banking industry body AIBI.
The finance ministry has invited applications to appoint the next chairman of the Securities and Exchange Board of India (Sebi) to succeed Ajay Tyagi, whose five-year term comes to an end in February.
Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was appointed as Sebi chairman on March 1, 2017, for a period of three years. Subsequently, he was given a six-month extension and later in August 2020, tenure was extended by 18 months.
Markets regulator Sebi on Wednesday imposed a total fine of Rs 50 lakh on three entities and two individuals and also restrained them from accessing securities markets for one year for indulging in fraudulent trading in the scrip of Asian Granito India Ltd.
The entities are Pasha Finance Pvt, Pat Financial Consultant Pvt Ltd and Hridaynath Consultancy Pvt Ltd, while the individuals facing the penalty are Minal Bharat Patel and Ruchit Bharat Patel.
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