Brokerages are awaiting operational clarity on the use of Aadhaar for know your client (KYC) purposes, to help sign up clients faster.
They earlier used the Aadhaar database to complete the KYC process online. Industry officials said that the on-boarding process became considerably longer after the 2018 Supreme Court judgement which stopped Aadhaar use by companies and private entities.
The Securities and Appellate Tribunal (SAT) has hauled up the Securities and Exchange Board of India (Sebi) for giving computer-generated response to investor complaints filed on its online platform Scores and for disposing of the matter without settling the case.
“We find the approach adopted by Sebi to be a strange one. Such computer-generated disposal of a serious complaint speaks volumes on the conduct in treating the minority shareholders in this shabby manner,” the tribunal said while delivering a judgment on a matter related to an investor complaint.
The Securities and Exchange Board of India (Sebi) has initiated a preliminary enquiry against information technology services major Infosys following allegations of unethical practices by a whistleblower.
The market regulator has received the whistleblower’s letter along with voice recordings and emails supporting his claims. “The allegations are serious in nature. A proper enquiry into the matter is needed.
Market regulator Sebi on Tuesday moved the Supreme Court challenging the Securities Appellate Tribunal’s order that quashed its two-year ban imposed on audit firm Price Waterhouse (PW) in the wake of the Satyam Computer fraud in 2009.
Sebi had in January last year barred Price Waterhouse (PW) and two auditors — S Gopalakrishnan and Srinivas Talluri — from auditing listed companies and had also directed the latter not to engage any audit firm forming part of the Price Waterhouse network.
The Securities and Exchange Board of India (Sebi) on Friday tightened the rules around resignations of auditors from listed companies.
The market regulator has said that an auditor will have to provide review — limited or complete audit report — for the quarter during which it resigns. For instance, if the auditor decides to resign in August 2019, it will have to issue the review for the quarter ended September 30, 2019.
Capital markets regulator Sebi has reconstituted its Primary Market Advisory Committee (PMAC) that advises it on policy framework, development of initial public offerings and other such segments.
The panel, which is chaired by TV Mohandas Pai, chairman of the Manipal Global Education Services, has now 26 members. Earlier, the panel has 23 members, according to the Securities and Exchange Board of India (Sebi).
CG Power and Industrial Solutions (CGPIL) on Wednesday said Bombay Stock Exchange has appointed MSA Probe Consulting as the forensic auditors in compliance with Securities and Exchange Board of India (Sebi) order of September 17, to carry out detailed forensic audit of CGPIL books for the period 2015-16 onwards, following the discovery of fraudulent transactions in the account books in August.
The Securities and Exchange Board of India has accepted the graded exit load recommendations prepared by the Association of Mutual Funds of India (AMFI) for redemptions in liquid funds within 7 days of investment. The regulator had previously tasked AMFI formulating the exit load in its September 20th circular. The move is aimed at deterring corporates from using liquid funds to park their money for very short periods.
The Securities and Exchange Board of India (Sebi) has put in place a framework for domestic companies to raise capital by issue of so-called depository receipts (DRs). The move, which follows a budget announcement in this regard, will allow listed Indian companies to issue either equity, or debt, to investors on the overseas stock exchanges such as NYSE, Nasdaq and Hong Kong Stock Exchange.
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point.
On a weekly basis, the local unit slumped by 32 paise.
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