DECISIONS TAKEN BY SEBI IN BOARD
DECISIONS TAKEN BY SEBI IN BOARD
DECISIONS TAKEN BY SEBI IN BOARD MEETING HELD ON 17TH
FEB,2021
Minimum Public Offer
Requirements for large issuers relaxed:
In terms of SCRA Rules,1957,
issuers with post issue market capital of Rs.4,000 crores or more are required
to offer to public atleast 10% of its
post issue capital market and achieve further
minimum public shareholding of atleast 25% within three years from the
date of its listing.
The board had decided to recommend changes in SCRR, for issuers with post issue market capital exceeding Rs. 1,00,000 crores, the requirements of MPO be reduced from 10% of post issue market capital requirements to Rs. 10,000 crores +5% of the incremental amount beyond Rs. 1,00,000 crores. These issuers will be required to achieve atleast 10% of public shareholding in two years and atleast 25% of public shareholding within five years from the date of its listing.
Amendment to SEBI (Portfolio Managers)
Regulation 2020,SEBI (Investment Advisers) Regulations,2013 and SEBI (Research
Analyst) Regulations,2014:
The Board approved amendment to SEBI (Portfolio Managers) Regulation 2020,SEBI (Investment Advisers) Regulations,2013 and SEBI (Research Analyst) Regulations,2014 to recognize the Post Graduate Programme in Securities Market of not less than one year offered by NISM as eligible qualification for Portfolio Managers, Investment Advisers and Research Analyst.
Removal of SEBI (Underwriting) Regulations,1993
and Amendments to the SEBI (Merchant Banking) Regulations,1992 and SEBI (Stock
Brokers) Regulations,1992:
The Board
approved removal of SEBI (Underwriting)
Regulations,1993 and Amendments to the SEBI (Merchant Banking) Regulations,1992
and SEBI (Stock Brokers) Regulations,1992 to incorporate provisions related to
net worth, maintenance of records and other regulatory compliances for the
underwriting activities. These regulations permit shall permit Merchant Bankers
and Stock Brokers to carry out underwriting activities.
Merger of SEBI(Regulatory fee on stock Exchange Regulations,2006 with Securities Contract Regulations (Stock exchange and Clearing Corporations) Regulations,2018:
The Board in its meeting approved merger of SEBI(Regulatory fee on Stock Exchange Regulations,2006 with Securities Contract Regulations (Stock Exchange And Clearing Corporations) Regulations,2018 as per the draft memorandum proposed to it towards ease of doing business and providing a consolidated view to users of regulations.
Source https://sebi.gov.in