India

AML / KYC

SEBI Extends Deadline to Provide FPI Beneficial Ownership Details

By Garima Chitkara | 22/08/2018

Requirement to provide details of beneficial ownership extended to end-December, after market participants asked for a review of the FPI guidelines and more time to comply.

Market Infrastructure

Cost Not A Factor in Ensuring Cyber Security – RBI

By Garima Chitkara | 20/08/2018

Market participants should not consider cost savings when formulating cyber security measures, said RBI governor Urjit Patel while launching digital payments platform UPI 2.0.

Securities / Derivatives

SEBI Cuts Time for Listing Debt Securities in Half

By Garima Chitkara | 20/08/2018

India’s securities regulator has cut the timeline for listing debt securities from 12 to six days to streamline the issuance process and make it more cost effective.

Market Infrastructure

India’s Cosmos Bank Suffers $13mn Theft

By Manesh Samtani | 16/08/2018

Attackers used cloned cards to simultaneously withdraw cash from ATMs in 28 countries, along with a fraudulent SWIFT transfer two days later.

Market Infrastructure

India to Devise Framework on Clearinghouse Interoperability

By Garima Chitkara | 14/08/2018

SEBI is working to develop a framework to allow clearinghouses to settle transactions executed on any exchange.

Market Infrastructure

NSE To Approach SEBI on Co-Location Case

By Garima Chitkara | 13/08/2018

The exchange will begin dialogue with the regulator on alleged misuse of its co-location facility; NSE chief says the exchange’s IPO is on hold until the resolution of this case.

Enforcement

Market Conduct Committee Calls for Greater Enforcement Powers for SEBI

By Garima Chitkara | 13/08/2018

A committee looking at fair market conduct has proposed greater powers for SEBI to go after insider trading, including the power to intercept phone and electronic communications.

Big Picture

RBI Should Have Sole Supervisory Responsibility for PSBs – IMF

By Garima Chitkara | 13/08/2018

In its India Staff Report, IMF brought up the issue of dual regulation of state run banks and called for full supervisory control of these banks to be given to the RBI.

Securities / Derivatives

India’s Brokers Move Against Tax on Physically-Settled Equity Derivatives

By Garima Chitkara | 09/08/2018

Brokers’ lobby is asking the Bombay High Court for a resolution on an impasse between market participants and the NSE over a decision to levy a 0.1% tax on physically settled equity derivatives.