Sebi prepares ground to end NSE’s dominance with liberal ownership norms for MIIs
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Synopsis
Sebi’s move comes in the backdrop of multiple technological failures encountered by the NSE and both the Central Depository Services Ltd and National Securities Depository Ltd over the past few years and concerns over dominant market shares of these companies.
“A need is, therefore, being felt to forge a competitive landscape in MIIs’ space by facilitating new players, who may like to challenge other MIIs in their already established domain,” the regulator said.
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MUMBAI: The Securities and Exchange Board of India today proposed to create a liberalised framework for entry of new market infrastructure intermediaries that has the potential to threaten National Stock Exchange’s dominance.
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The e-voting of unit-holders of six debt schemes of Franklin Templeton Mutual Fund (FTMF), which started on 26th December and would conclude on 29 December 2020, appears to be turned into a farce by FTMF, especially when the market regulator has been playing the role of a mute spectator. The Securities and Exchange Board of India (SEBI) has appointed TS Krishnamurthy, former chief election commissioner (CEC) as observer for the e-voting process and issued a statement on 26th December when the e-voting process had commenced. This move came a day after the Chennai Financial Markets and Accountability (CFMA) moved an urgent application before the Supreme Court (SC) against SEBI for not appointing an observer for the e-voting.
CFMA to Move SC to Scrap Franklin Templeton E-Voting on 6 Shut Funds
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Chennai Financial Markets and Accountability (CFMA), an investor protection body, said it would move an urgent interim application in the Supreme Court on Monday, seeking to nullify the entire e-voting process initiated by Franklin Templeton Mutual Fund (FTMF) on its six shut debt funds.
The investor body alleged that the announcement by the Securities and Exchange Board of India (SEBI) of appointing former Chief Election Commissioner T.S. Krishnamurthy as an observer was an eyewash as it came after the e-voting began on Saturday. It is against the letter and spirit of the order passed by the Supreme Court on December 9. It is akin to appointing a presiding officer after the election, it added.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
BSE EBIX Beta Launches Term Insurance for ICICI Prudential Life Insurance Company on its .
Ebix, Inc.December 15, 2020 GMT
JOHNS CREEK, Ga., Dec. 15, 2020 (GLOBE NEWSWIRE) BSE Ebix Insurance Broking Private Limited, a joint venture of BSE and Ebix Fincorp Exchange Pte Ltd., today announced the beta launch of term Insurance of ICICI Prudential Life Insurance Co. Ltd. on its state-of-the-art hi-tech platform. With this launch, BSE Ebix now has the ability to handle insurance sales across both Term and Endowment lines in the Life Insurance segment, using its omni-channel digital presence. The launch of Life insurance products by BSE Ebix is a major development from the Company’s perspective, since Life insurance is traditionally one of the fastest growing insurance segments in the country.
BSE EBIX Beta Launches Term Insurance for ICICI Prudential Life Insurance Company on its On-Demand Hi-Tech Platform
JOHNS CREEK, Ga., Dec. 15, 2020 (GLOBE NEWSWIRE) BSE Ebix Insurance Broking Private Limited, a joint venture of BSE and Ebix Fincorp Exchange Pte Ltd., today announced the beta launch of term Insurance of ICICI Prudential Life Insurance Co. Ltd. on its state-of-the-art hi-tech platform. With this launch, BSE Ebix now has the ability to handle insurance sales across both Term and Endowment lines in the Life Insurance segment, using its omni-channel digital presence. The launch of Life insurance products by BSE Ebix is a major development from the Company’s perspective, since Life insurance is traditionally one of the fastest growing insurance segments in the country.