The Securities and Exchange Board of India on Monday advised investors to exercise caution after reports circulated that ‘unscrupulous elements’ are cheating investors and the public by using its name
Markets regulator Sebi on Monday imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender s AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore onVivek Kanwar, whowas the Managing Director of Yes Bank, Rs 50 lakh each onAshish Nasa and Jasjit Singh Banga, who werepart of the bank s private wealth management team at the time of violation. They need to pay the penalty within 45 days, Sebi said in its order.
Yes Bank Ltd (YBL) and certain officialsdevised the devious scheme to dump the AT-1 (Additional Tier-1) bonds on their hapless customers , the regulator noted.
Read more about Sebi comes out with new guidelines on reporting formats for mutual funds on Business Standard. Capital markets watchdog Sebi on Monday came out with fresh guidelines on reporting formats for mutual funds.
The Securities and Exchange Board of India (Sebi) has asked Indian companies to work towards separating the roles of chairperson and managing director (MD). The deadline is a year away, but the market regulator is hinting that it won’t extend it. “Listed entities were initially required to separate the roles of chairperson and MD/ CEO from April 01, 2020 onwards. However, based on industry representations, an additional time period of two years was given for compliance. The regulation will now be applicable to the top 500 listed entities by market capitalization, with effect from April 01, 2022. As at the end of December 2020, only 53 per cent of the top 500 listed entities had complied with this provision. I urge the eligible listed entities to be prepared for this change in advance of the deadline,” said Ajay Tyagi, chairman of Sebi, in a speech at the CII Corporate Governance Summit.