Market regulator Sebi has barred 197 foreign funds, including those managed by global financial conglomerates like HSBC, Deutsche Bank and Standard Chartered, and 342 sub-accounts from further trading in stock market. These entities have been barred from fresh trading with immediate effect for non-disclosure of holding structure to the regulator, Sebi said in a circular. [...]
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FIIs change their structure to comply with new norms
Posted by khyati on October 1st, 2010
Most foreign institutional investors (FIIs) operating as multi-class share vehicles have changed their structure to meet the new regulatory requirements, officials familiar with the matter have said. The Securities and Exchange Board of India (SEBI) said FIIs and sub-accounts that had not complied with its guidelines specified on April 15 would not be permitted to [...]
AMBI committee to address SEBI’s IPO concerns
Posted by khyati on October 1st, 2010
In a bid to address Securities and Exchange Board of India’s chairman CB Bhave’s concern over the unrealistic pricing of initial public offers(IPOs),the Association of Merchant Bankers of India (AMBI) has formed two committees to improve the conditions for retail investors and for revising and updating the code of conduct and ethics. At its AGM [...]
SEBI: Mutual Fund industry doing fine
Posted by khyati on October 1st, 2010
The market regulator said the mutual fund industry was doing fine and industry representatives agreed. That was the overriding theme at the Business Standard Fund Café, organised. K N Vaidyanathan, executive director of the Securities and Exchange Board of India, who was the chief guest, said the average of assets under management (AUM) reached a [...]
MCX-SX to challenge SEBI’s rejection of application
Posted by khyati on September 30th, 2010
MCX Stock Exchange (MCX-SX) continued its tirade against the Securities and Exchange Board of India (SEBI), alleging “discrimination” and “character assassination” while rejecting its application for launching a full-fledged stock exchange. The exchange will soon decide whether to challenge the SEBI order in the high court (HC) or at the Securities Appellate Tribunal (SAT).
Investment bankers dismiss SEBI’s concerns over near-zero fee for divestment issuances
Posted by khyati on September 27th, 2010
Investment bankers have dismissed the capital market regulator SEBI’s concerns over near-zero fee for managing public sector issues. Bankers say the fee is a function of competition and, globally, too, government mandates are done at a lower cost compared with private sector issues. In an event organised by merchant bankers Securities and Exchange Board of [...]
