22 October, 2019
- Amendments to SEBI Insider Trading Regulations
SEBI has amended the SEBI (Prohibition of Insider Trading) Regulations, 2015 (‘PIT Regulations’) with effect from July 25, 2019. The key changes are as follows:
i. An amendment has been made to the minimum standards for the Code of Conduct for Listed Companies to Regulate, Monitor and Report Trading by Designated Persons (‘Code’), which clarifies that trading window restrictions under the Code will not apply to transactions for which….
- Standardized Reporting of Violations of Insider Trading Codes of Conduct
SEBI has, through circular dated July 19, 2019, prescribed a standardized format for reporting violations of codes of conduct under the PIT Regulations….
- Modification in Disclosure Norms for Divergence in Asset Classification and Provisioning by Banks
SEBI has, by way of a circular dated July 17, 2019, modified its earlier circular dated July 18, 2017, which prescribed disclosure norms for divergence in asset classification and provisioning by banks….
- Guidelines for Enhanced Disclosures by Credit Rating Agencies
To further strengthen the disclosures made by Credit Rating Agencies (‘CRAs’) and enhance the rating standards, SEBI by way of circular dated June 13, 2019, has issued certain guidelines regarding enhanced disclosure requirements for CRAs. Some of the key guidelines are:…
- Factors for SEBI Granting Confidentiality in Settlement Applications
SEBI has issued a circular setting out the criteria to assure confidentiality under the SEBI (Settlement Proceedings Regulations, 2018 (‘Settlement Regulations’). A person who may have committed a violation of securities laws (other than those detailed in Tables VII to IX of Schedule II of the Settlement Regulations),….
- Materiality Threshold for Related Party Payments for Brand Use / Royalty
SEBI has amended the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, pursuant to which SEBI has increased the materiality threshold (triggering shareholder approval requirement) for a related party transaction involving payments made to a related party with respect to brand usage or royalty from 2% to 5% of the annual consolidated turnover of the listed entity as per the last audited financial statements.
- Amendments to the SEBI ICDR Regulations
SEBI on September 23, 2019 has notified amendments to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 in order to include Part V in Chapter X. This chapter deals with migration of companies listed on the Innovators Growth Platform (‘IGP’) to the general category of the main board….
- Implementation of Phase II of Unified Payments Interface with Application Supported by Block Amount
SEBI by way of its circular dated November 1, 2018, had introduced the use of Unified Payments Interface (‘UPI’) as a payment mechanism with Application Supported by Block Amount (‘ASBA’) for applications in public issues by retail individual investors through intermediaries, such as syndicate members, registered stock brokers, registrar and transfer agent and depository participants, with effect from January 1, 2019….
- Proposed Norms for Resignation of Statutory Auditors
SEBI, on July 18, 2019, has issued a consultation paper on Policy Proposals with respect to Resignation of Statutory Auditors from Listed Entities. The paper proposes conditions to enhance responsible behaviour of auditors and ensure completion of ongoing obligations by resigning auditors. Following are the key proposals:….
For further information, please contact:
Zia Mody, Partner, AZB & Partners
zia.mody@azbpartners.com
