REGULATIONS


Moneylife Digital Team 22 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has extended suspension on commodities derivative trading for seven commodities for one more year.   In its directions to stock exchanges, SEBI says, "...the suspension of trading in the (derivative) contracts has been...

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Moneylife Digital Team/ IANS 22 December 2022
Two of FTX founder Sam Bankman-Fried’s closest associates have pleaded guilty to fraud-related charges in connection with the collapse of the cryptocurrency exchange and agreed to cooperate with US authorities investigating the collapse of the bankrupt cryptocurrency exchange, according to a...

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Moneylife Digital Team 22 December 2022
While imposing a penalty of Rs15 lakh and asking to refund Rs67.20 lakh to client-investors, the Securities and Exchange Board of India (SEBI) banned Fastmoney Advisory Services LLP and its owners, Bibha Kumari and Aravind Kumar (noticees), from markets for one year. SEBI also ordered them to...

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IANS 21 December 2022
As millions of investors face uncertainty in global crypto meltdown, the Reserve Bank of India (RBI) governor Shaktikanta Das said on Wednesday that the next financial crisis will come from crypto collapse if private digital coins are allowed to grow.   Addressing a group of banking...

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Alan Paul Varghese 21 December 2022
The Reserve Bank of India (RBI) has imposed penalties on 20 banks, citing various violations of banking laws prescribed by the central bank and the National Bank for Agriculture and Rural Development (NABARD). Of these, 17 belong to Gujarat, and the rest are from Delhi, Maharashtra and Andhra...

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IANS 21 December 2022
Hours after the Insurance Regulatory and Development Authority of India (IRDAI) announced scrapping of the 'burning cost' model of pricing by reinsurers, investors in General Insurance Corporation of India Ltd (GIC Re) saw their pockets burnt on Thursday.   The share prices of...

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Moneylife Digital Team 21 December 2022
The Securities and Exchange Board of India (SEBI) has banned the directors of Geodesic Ltd and former owners of the Chandamama magazine from the securities market for a year for siphoning off US$125mn (million) raised through foreign currency convertible bonds (FCCBs). Chandamama India Ltd...

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Moneylife Digital Team 21 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs10 lakh on Reliance Commercial Finance Ltd (RCFL) for non-compliance in the timely disclosure of information with exchanges, debenture trustees and investors.   In an order, G Ramar, adjudicating...

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Moneylife Digital Team 21 December 2022
Expressing concerns over policies and programmes for fertiliser production and use in India, Peoples' Commission on Public Sector and Public Services (PCPSPS) has urged the Union government to take note of the global developments in the availability of fertilisers and the raw materials...

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IANS 21 December 2022
The European Commission has opened an in-depth investigation to assess the proposed acquisition of enterprise Cloud software company VMware by Broadcom.   VMware was acquired by chip and software maker Broadcom from Dell Technologies for $61 billion in May this year.   The...

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Moneylife Digital Team 20 December 2022
Market regulator Securities and Exchange Board of India (SEBI), decided to introduce a platform for risk reduction access to help investors in case of disruption of trading services provided by a stock broker. While increasing the minimum utilisation of the amount to 75% from 50% for buyback...

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Moneylife Digital Team 20 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a total penalty of Rs8 lakh on C Parthasarthy, chairman and managing director (CMD) and Rs4 lakh on Vikas Rajpal, compliance officer of Karvy Stock Broking Ltd, for violating SEBI regulations related to its portfolio...

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IANS 20 December 2022
The Haryana Real Estate Regulatory Authority (RERA) has asked Pareena Laxmi Infrastructure Private Ltd to pay delayed possession charges (DPC) to its allottees of its Gurugram housing society at the prescribed interest rate well within the time specified.   The Authority's order will...

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Moneylife Digital Team 20 December 2022
Market regulator Securities and Exchange Board of India (SEBI) on Monday proposed ways to strengthen the existing complaint redressal process in the securities market by making use of online dispute resolution mechanisms.   In its consultation paper, the regulator has suggested...

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Arun Kumar (The Leaflet) 20 December 2022
In a vibrant democracy, critique of policy a) makes for a) better policies, and b) helps correct mistakes as they occur. Official spokespersons will always argue that the government is doing the best under given circumstances. But today, the world is changing so fast that mistakes will occur...

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Moneylife Digital Team 20 December 2022
The Reserve Bank on Monday (RBI) said it has imposed a penalty of Rs2.66 crore on Bank of Bahrain & Kuwait BSC, India operations for non-compliance with directions on cyber security framework. The bank failed to implement systems to detect unusual and unauthorised, internal or external...

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Moneylife Digital Team 20 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has banned Securekloud Technologies Ltd (STL) and three of its directors from the securities market for one to three years and fined them a total of Rs10 crore for allegedly misrepresenting the company’s financial...

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Moneylife Digital Team 20 December 2022
Securities and Exchange Board of India (SEBI) on Monday barred two individuals from the securities markets and impounded illegal gain of Rs1.68 crore made by them from indulging in front-running trades. Those banned by SEBI are Gaurav Dedhia, who was employed as a chief dealer with IDBI...

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Moneylife Digital Team 20 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs2 lakh on DS Kulkarni Developers Pvt Ltd for the company's failure to create a debenture redemption reserve (DRR) to protect non-convertible debenture (NCD) holders.    In an order, Soma...

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IANS 19 December 2022
Nearly 63% of posts in the serious fraud investigation office (SFIO) under the Union Ministry of Corporate Affairs, are vacant.   "At present, total sanctioned posts are 238. Out of these, 88 are filled and 150 are vacant," minister of state, corporate affairs Rao Inderjit Singh said...

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