This communique is an attempt to share with readers various circulars, notifications, guidelines etc., issued by the Government, SEBI, MCA, RBI and IRDAI during the month of October 2021. While preparing this communique we have referred some websites and articles present in public domain. This communique if only to provide and update our readers and students and will not be considered for any other purpose.
1. SEBI issued circular regarding Maintenance of current accounts in multiple banks by Stockbrokers
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Brief Details |
The SEBI in order to facilitate seamless settlement of funds and for the convenience of investors, has clarified that Stock Brokers should maintain current accounts in appropriate number of banks (subject to the maximum limit prescribed by Stock Exchanges/SEBI from time to time) for holding the client funds (i.e., Client Account), for settlement purposes (i.e., Settlement Account) and any other accounts mandated by Stock Exchanges such as Exchange Dues Account subject to the condition that brokers are using these accounts for their defined purposes. |
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Change Type |
Circular |
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State |
Central |
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Effective Date |
28-Oct-2021 |
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Source |
https://www.sebi.gov.in/legal/circulars/oct-2021/maintenance-of-current-accounts-in-multiple-banks-by-stock-brokers_53576.html |
2. SEBI issued circular regarding Investment/ trading in securities by employees and Board members of AMC(s) and Trustees of Mutual Funds
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Brief Details |
The SEBI with reference to circular dated 17th November, 2016, which specified the norms for investment/ trading in securities by employees of AMC(s) and Trustees of Mutual Funds and consolidated the provisions of all the previous circulars as Annexure A to the said circular and subsequently, SEBI vide circular dated March 04, 2021, partially modified Annexure A of the circular dated November 17, 2016 has decided to review the circular and partially modify the provisions of the circular dated November 17, 2016. |
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Change Type |
Circular |
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State |
Central |
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Effective Date |
28-Oct-2021 |
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Source |
https://www.sebi.gov.in/legal/circulars/oct-2021/investment-trading-in-securities-by-employees-and-board-members-of-amc-s-and-trustees-of-mutual-funds_53618.html |
3. SEBI issues Guiding Principles for bringing uniformity in Benchmarks of Mutual Fund Schemes
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Brief Details |
The Securities and Exchange Board of India, in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provision of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996 to protect the interests of investors in securities and to promote the development of , and to regulate the securities market, hereby issues Guiding Principles for bringing uniformity in Benchmarks of Mutual Fund Schemes. |
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Change Type |
Circular |
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State |
Central |
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Effective Date |
27-October-2021 |
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Source |
https://www.sebi.gov.in/legal/circulars/oct-2021/guiding-principles-for-bringing-uniformity-in-benchmarks-of-mutual-fund-schemes_53539.html |
4. SEBI notifies Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2021
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Brief Details |
The Securities and Exchange Board of India, in exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992, hereby makes the regulations to further amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. |
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Change Type |
Notification |
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State |
Central |
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Effective Date |
26-October-2021 |
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Source |
https://egazette.nic.in/WriteReadData/2021/230722.pdf |
5. SEBI notifies Securities and Exchange Board of India (Depositories and Participants) (Second Amendment) Regulations, 2021
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Brief Details |
The Securities and Exchange Board of India, in exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act, 1992 read with Section 25 of the Depositories Act, 1996, hereby makes the regulations to further amend the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. |
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Change Type |
Notification |
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State |
Central |
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Effective Date |
26-October-2021 |
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Source |
https://egazette.nic.in/WriteReadData/2021/230723.pdf |
6. SEBI notifies Securities and Exchange Board of India (Foreign Portfolio Investors) (Second Amendment) Regulations, 2021
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Brief Details |
The Securities and Exchange Board of India, in exercise of the powers conferred by section 30 read with clause (c) of sub-section (2) of section 11 of the Securities and Exchange Board of India Act, 1992, hereby makes the regulations to further amend the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019. |
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Change Type |
Notification |
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State |
Central |
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Effective Date |
26-October-2021 |
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Source |
https://egazette.nic.in/WriteReadData/2021/230724.pdf |
7. SEBI amends its Circulars pertaining to Investor Grievance Redressal System and Arbitration Mechanism
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Brief Details |
The Securities and Exchange Board of India, in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with Section 9(2)(n) and Section 10 of the Securities Contracts (Regulation) Act, 1956 and to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, hereby amends the SEBI Circulars pertaining to Investor Grievance Redressal System and Arbitration Mechanism. All other provisions of the relevant circulars will continue to be in force. |
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Change Type |
Circular |
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State |
Central |
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Effective Date |
22-October-2021 |
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Source |
https://www.sebi.gov.in/legal/circulars/oct-2021/amendment-to-sebi-circulars-pertaining-to-investor-grievance-redressal-system-and-arbitration-mechanism_53450.html |
8. SEBI amends its Circulars pertaining to Investor Protection Fund (IPF)/Investor Service Fund (ISF) and its related matters
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Brief Details |
The Securities and Exchange Board of India, in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act 1992, read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, hereby amends its Circulars pertaining to Investor Protection Fund (IPF)/Investor Service Fund (ISF) and its related matters. All other provisions of the relevant circular will continue to be in force. |
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Change Type |
Circular |
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State |
Central |
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Effective Date |
22-October-2021 |
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Source |
https://www.sebi.gov.in/legal/circulars/oct-2021/amendment-to-sebi-circular-pertaining-to-investor-protection-fund-ipf-investor-service-fund-isf-and-its-related-matters_53448.html |
9. SEBI issues Circular regarding Modalities for filing of placement memorandum through a Merchant Banker under SEBI (Alternative Investment Funds) Regulations, 2012
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Brief Details |
The Securities and Exchange Board of India, in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market, hereby issues Circular on Modalities for filing of placement memorandum through a Merchant Banker. |
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Change Type |
Circular |
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State |
Central |
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Effective Date |
21-October-2021 |
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Source |
https://www.sebi.gov.in/legal/circulars/oct-2021/modalities-for-filing-of-placement-memorandum-through-a-merchant-banker-under-sebi-alternative-investment-funds-regulations-2012_53379.html |
10. SEBI issues Circular regarding Transmission of Securities to Joint Holder(s)
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Brief Details |
The Securities and Exchange Board of India, in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 and to protect the interests of investors in securities and to promote the development of, and to regulate the securities market read with Regulation 101 of SEBI (Listing Obligations and Disclosure Requirements), 2015, hereby issues Circular regarding transmit securities in favour of surviving Joint holder(s), in the event of demise of one or more joint holder(s), provided that there is nothing contrary to the same in the Article of Association of the company. |
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Change Type |
Circular |
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State |
Central |
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Effective Date |
18-October-2021 |
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Source |
https://www.sebi.gov.in/legal/circulars/oct-2021/transmission-of-securities-to-joint-holder-s-_53313.html |
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