GAGA Share Market News

[hfe_template id='11223'] [ad_1] Disclosure requirements for board members at India's capital market regulator are under the spotlight in the wake of impropriety charges by Hindenburg Research and the Opposition Congress against chairperson Madhabi Puri Buch, whose allegedly undeclared conflicts of interest lapses have lately come under attack. Rules require Securities and Exchange Board of India (Sebi) board members, including the chairperson, to disclose their and their spouses' holdings in listed shares and convertible instruments to Sebi. However, former Sebi members told ET that the lack of scrutiny beyond the filing process leaves the system exposed to more allegations and controversies in the future. ET spoke to four former Sebi members, who spoke on the condition of anonymity. The Congress had alleged Buch violated Sebi's conflict of interest policy after she traded in listed securities worth about ₹37 crore, and sold employee stock options received f...

[hfe_template id='11223'] [ad_1] The Securities and Exchange Board of India (Sebi) has proposed faster credit and trading of bonus shares. It has suggested to streamline and reduce timelines of bonus issue enabling T+ 2 trading of shares post record date. The move is aimed to reduce investors' risk of market volatility due to any delay in credit of bonus shares. At present, there are no specific timelines regarding credit of bonus shares and trading of such shares, from the record date of the issue. "...absence of any specific guidelines on this aspect leads to non-uniformity with respect to timelines in which shares are credited and made available for trading in bonus issue," Sebi said in a discussion paper.Currently, existing shares continue to remain available for trading post record date under existing ISIN and shares issued pursuant bonus issue are credited in existing ISIN and same are made available for trading in 2-7 working days post record date.To...

[hfe_template id='11223'] [ad_1] The 'silence' of many 'portfolio management service' (PMS) firms has raised the regulator's hackles in a runaway market. The Securities and Exchange Board of India (Sebi) is unable to reach out to a large number of PMS service providers who are not responding to queries, said a senior Sebi official during an interface with the PMS industry last week. Typically arms of brokerages and asset managers, PMS houses handle the money of wealthy investors with several Bollywood actors, cricketers, and senior professionals as well as government functionaries putting a slice of their wealth with these investment managers. ETMarkets.com There are 438 PMS firms registered with Sebi managing assets worth ₹7.5 lakh crore.Manoj Kumar, the Sebi executive director who addressed the members of the PMS industry body APMI, however, did not quantify the number of firms who remain incommunicado and are thus failing to meet the basic complia...

[hfe_template id='11223'] [ad_1] A scurrilous story that was slowly fizzling out, has made a messy reappearance. An unhindered Wall Street player that thrives on blemishes of others and is seemingly answerable to no one, has cast aspersions on an overbearing regulator which is used to dealing with timid fund managers and brokers. The Adani story has moved beyond Adani: it's now turning into a skirmish, playing out in full public glare, between Hindenburg - the American researcher and short-seller - and capital market regulator SEBI which was possibly hoping for a quiet end to a sordid chapter. Hindenburg, emboldened by the belief that it is beyond SEBI's jurisdiction, did what Indian regulated entities would never dare to do: it posted the show cause notice from SEBI while mincing no words in accusing the regulator of treating local corporate biggies with kid gloves, training its guns on the messenger instead of going to the bottom of the message, and even threat...