Quick Summary
SEBI Board Meeting The SEBI Board met in Mumbai today. The out of station Members joined the meeting through video conferencing. The Board, inter-alia, took the following decisions: I. Amendments to SEBI (Mutual Funds) Regulations, 1996 SEBI, in consultation with various stakeholders, undertook a detailed exercise on review of SEBI (Mutual Funds) Regulations, 1996 (hereinafter called as MF Regulations) and various circulars issued thereunder in order to examine certain policy proposals
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FAQ :
SEBI has approved amendments to MF Regulations, including making sponsors eligible even if they don't meet current profitability criteria, provided they have a net-worth of INR 100 Cr. They also approved streamlining net-worth computation for AMCs and mandating segregation and ring-fencing of assets and liabilities for each mutual fund scheme.
Companies continuing to be listed after CIRP will now need 5% public shareholding upon admission to stock exchange dealings, with 12 months to reach 10% and 36 months to reach 25%. Previously, there was no minimum requirement at admission.
Yes, SEBI has approved doing away with Minimum Promoters' Contribution and subsequent lock-in requirements for issuers making a Further Public Offer, provided the shares are frequently traded for three years, the issuer has complied with listing regulations for three years, and investor complaints are redressed at 95%.
Investment Advisers (IA) will now be required to seek membership of a SEBI-recognised body for administration and supervision. The fee structure has also been modified to ensure the total cost for IAs remains the same.
Yes, amendments have been approved to provide certain exemptions to AIFs regarding Investment Committee members, conditional upon a capital commitment of at least INR 70 Crore from each investor and a suitable waiver.
These regulations have been repealed as they have outlived their utility, following the introduction of PAN as the sole identification number for securities market transactions.
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