Tech industry bats for deeptech fund, tweaks in safe harbour rules’ threshold, ET LegalWorld
India’s apex IT industry body Nasscom has batted for tweaks in safe harbour rules and widening the scope for utilisation of SEZ reinvestment reserves in its Budget wishlist, while advocating for creation of a central deeptech fund to bolster startup ecosystem in India. Creation of a grant framework for the deeptech ecosystem, and making the […]
Sebi mulls change in cut-off timings to determine NAV for repurchase Mutual Fund Overnight Schemes, ET LegalWorld
Markets regulator Sebi on Monday proposed a change in cut-off timings to determine the net asset value (NAV) with respect to repurchase or redemptions of units in overnight schemes of mutual funds from 3 pm to 7 pm. The proposed change, if implemented, will allow time for stock brokers (SBs), or clearing members (CMs) to […]
Sidbi’s secondary deal fund, Legal News, ET LegalWorld
The central government is planning to provide a corpus to the Small Industries Development Bank of India (Sidbi) to run a secondaries-focused fund of funds, people in the know told ET. The planned fund, the first such move by the Centre, will back venture capital firms managing vehicles focused on secondary transactions. In a secondary […]
Sebi revises norms for mutual fund and demat nominations, aimed at reducing unclaimed assets, ET LegalWorld
Capital markets regulator Sebi has introduced new rules for handling nominations in mutual fund and demat accounts. These changes are aimed at reducing unclaimed assets in the markets. Sebi’s new framework focuses on making the process of transferring assets after the account holder’s death simpler, while ensuring transparency and accountability. Under the new rules, in […]
Sebi introduces MF Lite framework to boost passive fund schemes, ET LegalWorld
Capital markets regulator Sebi on Tuesday announced the launch of the Mutual Funds Lite (MF Lite) framework to simplify the compliance process for entities launching passively managed mutual fund schemes. The framework is designed to encourage new entrants, promote innovation, and foster investment diversification in the mutual fund industry. The Securities and Exchange Board of […]
2 announcements for mutual fund industry, Legal News, ET LegalWorld
Market regulator Sebi, in its board meeting on Wednesday, approved amendments to SEBI (Mutual Funds) Regulations, 1996, aiming to minimise investment amount, to reduce frequency of disclosure, and align employee interests with those of mutual fund investors. Here’s a breakdown of the changes based on the board’s decisions: 1. Alignment of interest of the designated […]
Sebi introduces timelines for NFO fund deployment, eases AMC employee interest alignment rules, ET LegalWorld
Markets regulator Sebi has decided to introduce timelines for deploying funds raised through New Fund Offers (NFOs) by asset management companies (AMCs) and relaxed regulatory framework regarding the alignment of AMC employees’ interests with those of unitholders. Additionally, the regulator has mandated disclosure of stress testing for all mutual fund schemes to provide greater transparency […]
Know how T+0 settlement will impact mutual fund and stock investors, ET LegalWorld
From January 31, 2025, for the top 500 stocks in India, investors will start getting an option to have T+0 settlement in systematic manner. Moreover, stockbrokers have been permitted to charge differential brokerage for consumers opting for T+1 and T+0 settlement of shares. Securities and Exchange Board of India (SEBI) said that this decision was […]
New bill proposes multiple nominees for bank Fixed Deposits to ease fund distribution after death, ET LegalWorld
A crushing experience in the trail of destruction left by Covid was the inability of family members to freely withdraw and distribute money by breaking the bank fixed deposits (FDs) after the death of the prime earner, who, in many cases, was the sole account holder. The bill to change the law allowing banks to […]
Sessions Court Rules in Favor of PNB, Halts Fraudulent Fund Transfer, ET LegalWorld
A city sessions court overturned a magistrate’s order to Punjab National Bank’s (PNB’s) Ernakulam branch in Kerala regarding the transfer of Rs 7.70 lakh from a cyber fraud account to Yamini Porval, a resident of Satellite area here. She was defrauded of Rs 26.96 lakh allegedly by cybercrooks. PNB contested the magistrate’s order as the […]