SEBI - Electronic Gurudev

Feb182017 by Team - The Digital IndianNo Comments

New SEBI Chief’s tenure cut short

Economy

Senior IAS officer Ajay Tyagi appointed new SEBI chief 12 Feb 2017 Senior bureaucrat Ajay Tyagi has been appointed as the chairman of the Securities and Exchange Board of India (SEBI). Tyagi, a 1984-batch IAS officer from Himachal Pradesh cadre, is an additional secretary in the Department of Economic Affairs and manages the capital market division. He will assume the mantle of UK Sinha, whose twice-extended service tenure since 2011 ends on March 1. What is SEBI and what does it do? Fact SEBI is the regulator for all finance and investment markets in India. Set up in 1992, it has the power to regulate and approve by-laws of stock exchanges, inspect books of players, compel selected companies to get listed and even handle the registration of brokers. More about the n...

Steps taken sufficient are enough to address P-note concerns: Sebi

Economy

Sebi today said steps taken by it on P-notes are “sufficient enough” to address the concerns of SIT on black money, but the regulator is open to further suggestions, even as it asserted that consistent tightening of norms have made these instruments less attractive. “The consistent tightening of Offshore Derivative Instrument (ODI) norms by Sebi has not only been through increased compliances but also improved transparency,” the regulator said after its board meeting where the issue was also discussed. Over the years, foreign portfolio investments through ODIs, popularly known as Participatory Notes (P-notes), has come down significantly. The regulator said the simultaneous liberalisation in registration process of foreign portfolio investors has made the P-notes “less attractive vi...

No serious breach of laws by Tata Group: SEBI

Economy

Amid the Tata-Mistry battle, markets regulator SEBI feels that the board of a company can continue to seek the expertise of a ‘Chairman Emeritus’ even after the person has left the company, though the regulator appears to be in favour of stricter norms for removal of independent directors. Ever since the boardroom battle erupted at the conglomerate after removal of Cyrus Mistry as chairman in October last year and subsequent allegations by him, including about ‘interference’ by Ratan Tata, SEBI has been keeping a close watch on the developments related to the group. The markets regulator has carried out a detailed scrutiny of any possible breach of securities laws, including about corporate governance and insider trading norms, a senior official said. However, no serious breac...