India

Enforcement

SEBI Fines CDSL and Citibank for Separate Regulatory Violations

By Ajoy K Das | 30/08/2024

Both settlement orders were passed on Tuesday, with SEBI saying it reserves the right to initiate further action against CDSL or Citibank.

Fintech / Regtech

RBI Grants Recognition to First SRO for Fintech Sector

By Ajoy K Das | 30/08/2024

The RBI granted recognition to the ‘Fintech Association for Consumer Empowerment’, known as FACE.

Securities / Derivatives

SEBI Proposes to Mandate UPI Blocking Mechanism for Stock Trades

By Ajoy K Das | 29/08/2024

Under the UPI block mechanism, investors only transfer funds to the broker after their shares are credited.

Fintech / Regtech

RBI Developing New Unified Platform to Facilitate Lending

By Ajoy K Das | 28/08/2024

The so-called “Unified Lending Interface” will provide lenders digital access to customer data from land records and other sources.

Enforcement

SEBI Bans Anil Ambani from Securities Market for Five Years

By Ajoy K Das | 27/08/2024

Billionaire industrialist Anil Ambani and others allegedly orchestrated a scheme to divert funds from Reliance Home Finance through loans to connected entities.

Securities / Derivatives

SEBI Proposes Revisions to Boost Appeal of Rights Issues

By Ajoy K Das | 26/08/2024

SEBI aims to make rights issues the preferred route for additional fundraising by listed companies, compared to QIPs and preferential allotments.

Securities / Derivatives

SEBI Proposes to Allow Self-attestation of Certain Documents

By Ajoy K Das | 25/08/2024

SEBI proposes to stop requiring notarisation or certification for certain documents as this raises the cost and compliance burden for businesses and individuals.

Fintech / Regtech

India’s IFSCA and Malaysia’s LFSA Sign Cooperation MOU

By Ajoy K Das | 24/08/2024

The MOU will facilitate information sharing to promote the development of both the GIFT City and Labuan international financial centres.

AML / KYC

Indian Telco Ordered to Pay Compensation for SIM Swap Fraud

By Ajoy K Das | 23/08/2024

Airtel issued a duplicate SIM card without verification, resulting in fraudulent withdrawals in May 2017, and then challenged a July 2018 compensation order and lost.