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: Thursday, January 14, 2021, 11:19 AM IST Channel should be punished : Twitter calls for stricter action after Sebi bans business news anchor, family members from capital markets
In a first of its kind order, the Securities and Exchange Board of India (SEBI) on Wednesday barred CNBC Awaaz anchor Hemant Ghai, his wife and mother from the capital markets for indulging in fraudulent trading practices.
Following the order, the Network18 Group terminated Ghai with immediate effect. CNBC Awaaz tweeted, Network 18 group has terminated with immediate effect Hemant Ghai, a show host and anchor of our Hindi business channel CNBC Awaaz. His termination is a consequence of an interim ex-partner order by the Sebi against Ghai for prima facie violations of PFUTP norms, it noted. CNBC Awaaz is the Hindi business channel of the Network18 Group.
Capital markets regulator Sebi on Wednesday proposed that KYC and account opening process should be separated in order to standardise the process and avoid duplication. It has been suggested that KYC should be done through stock exchanges, depositories and KYC Registration Agencies(KRAs), and documentation for opening of account for entering into transaction would continue to be the responsibility of concerned registered intermediaries. At present, KYC of clients in the securities market is conducted by registered intermediaries stock brokers, depository participants, RTAs and then Registered Intermediaries (RIs) upload KYC records in the KRA system. The role of KRAs is centralisation of the KYC records, ascertaining the upload of KYC documents and sharing KYC records with Sebi registered intermediaries as and when required, Sebi noted in the consultation paper.
Read more about Sebi reduces application and registration fee for investment advisors on Business Standard. Markets regulator Sebi has cut down application and registration fees for individuals and corporates seeking a registered investment advisor status.