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🌐 SEBI Introduces Single Filing System for Exchanges: Streamlining Compliance for Companies In a significant move towards simplifying compliance, SEBI is set to implement a single corporate filing system with stock exchanges. Currently, companies listed on both the NSE and BSE are required to submit disclosures to each exchange separately. However, under the new system, a single disclosure submission to one exchange will automatically reflect on all other relevant exchanges where a company is listed. This technology-driven initiative aims to not only ease the compliance burden for companies but also enhance the efficiency of information dissemination, ultimately benefiting investors. Link:- https://lnkd.in/dNKDEMhN #SEBI #CorporateCompliance #StockExchanges #NSE #BSE #BusinessDevelopment #InvestorRelations #TechnologyInFinance Hammurabi & Solomon Partners

'The stock market was ruined over the last 14 years during Prof M Khairul Hossain and Prof Shibli Rubayat-ul Islam's tenures at the helm of the securities regulator as they engaged in unprofessional and illegal activities." DSE Brokers Association of Bangladesh (DBA), President Saiful Islam made the allegations against the former chairmen of the Bangladesh Securities and Exchange Commission (BSEC) during a press conference at the Dhaka Club yesterday. He added that they had not only failed to ensure transparency, good governance and accountability, but also could not curb insider trading or other forms of stock manipulation. They were also unsuccessful in bringing good companies to the market. "Moreover, they were involved in irregularities," Islam said. Most companies listed over the last 14 years are poor performers and were approved despite the Dhaka Stock Exchange's (DSE) objection. He alleged that the BSEC threatened the DSE, saying it would use the powers afforded to it under Section 2CC of The Securities and Exchange Ordinance to bind them. Section 2CC gives the securities regulator huge power, stating that the BSEC's orders will supersede any other order. "Irregularities and corruption in the name of approval of IPOs were concerning under the Khairul and Shibli commissions," Islam said. Along the same vein, several companies listed on the SME Board of the DSE have been non-functional for more than 20 years. The BSEC did these without following rules and regulations, Islam clarified. "For what reason had the BSEC done it?" He also said the BSEC created a speculative bubble and ultimately killed the market by imposing the floor price, which led to almost no buying or selling for at least a year. Islam also accused BSEC officials of being directly involved in market manipulation, saying it had ultimately ruined the market and eroded people's confidence. The DBA recommended reforming the BSEC and the DSE by removing corrupt officials, directors and commissioners who were appointed due to their political affiliations. A separate investigation is necessary to find out how much foreign exchange was wasted and laundered in the name of holding roadshows abroad. An investigation committee should be formed to unearth the true extent of irregularities and corruption during the past 14 years and corrupt individuals should be punished. A separate investigation is necessary to find out how much foreign exchange was wasted and laundered in the name of holding roadshows abroad. The Chittagong Stock Exchange, Central Depository Bangladesh, and Central Counterparty Bangladesh also need to be reformed as board members were employed due to their political leaning, the DBA said. #Bangladesh #Reforms #DhakaStockExchange #ChittagongStockExchange #DSE #CSE #CapitalMarket #StockMarkets https://lnkd.in/gKCsCinU

The Role of SEBI in Regulating the Indian Stock Market 1. Historical Background and Establishment SEBI was established in 1992 following the Harshad Mehta scam, which exposed significant flaws in the Indian stock market’s regulatory framework. The need for a dedicated regulatory body to oversee market operations and protect investor interests became evident. 2. Key Functions of SEBI a. Regulating Market Intermediaries One of SEBI’s primary functions is to regulate and supervise market intermediaries such as brokers, merchant bankers, and asset management companies. b. Protecting Investor Interests Investor protection is a core mandate of SEBI. The board works to ensure that investors are provided with accurate and timely information, and it takes action against fraudulent activities and market manipulation. c. Regulating Stock Exchanges and Market Practices SEBI regulates stock exchanges and their operations to ensure fair trading practices. It sets guidelines for listing requirements, market conduct, and trading mechanisms. 3. Major Regulatory Frameworks and Initiatives a. SEBI Act, 1992 The SEBI Act provides the legal foundation for SEBI’s authority and operations. It grants SEBI the power to regulate the securities market, enforce compliance, and take action against violations. b. Securities Contracts (Regulation) Act, 1956 This Act, amended to align with SEBI’s regulations, governs the trading of securities and ensures that trading practices adhere to prescribed standards. c. The Companies Act, 2013 The Companies Act, along with SEBI’s regulations, governs corporate disclosures and financial reporting. 4. Impact of SEBI’s Regulation on the Indian Stock Market SEBI’s regulatory framework has had a significant impact on the Indian stock market: a. Enhanced Market Confidence By enforcing stringent regulations and taking action against market abuses, SEBI has helped build investor confidence in the Indian stock market. b. Improved Market Transparency SEBI’s regulations require companies to provide accurate and timely information to investors, enhancing transparency. c. Prevention of Market Manipulation SEBI’s oversight has been instrumental in detecting and preventing market manipulation and fraudulent activities. 5. Challenges and Future Directions Despite its successes, SEBI faces several challenges, including keeping pace with technological advancements and addressing emerging market risks. attention.SEBI’s future directions may include enhancing regulatory frameworks for digital assets, improving investor education, and continuing to strengthen its enforcement mechanisms to address new forms of market misconduct.

The stock exchange is an organized market that plays a fundamental role in the functioning of the financial market and the security of trading in company securities: Trading environmentThestock exchange is a place where investors come together to buy and sell assets such as shares, bonds, commodities, futures contracts and other financial instruments. Source of funds for companiesThe stock exchange allows companies to raise capital by issuing shares, i.e. stakes in the company. Returns for investors Investorscan buy shares and expect to make a profit as the value of companies grows over time. Regulated environmentThestock exchange offers a safe and regulated environment for trading. Disclosure of transactionsThe exchange must disclose transactions quickly, widely and in detail The stock exchange is responsible for Creating and managing the trading, clearing, settlement, deposit and registration systems for different asset classes Providing market data, news and courses for individual investors Providing announcements, market data, service channels and courses for market professionals Providing information to companies and investment funds on raising funds The five main stock exchanges in the world are: New York Stock Exchange (NYSE): The oldest stock exchange in the United States, founded in 1792, and is located on Wall Street, the main global financial center NASDAQ: The “technology stock exchange”, founded in 1971, and brings together shares in major technology, telecommunications, biotechnology and electronics companies Shanghai Stock Exchange (SSE): China's largest stock exchange, founded in 1990 Tokyo Stock Exchange (TSE): The first stock exchange in the world to open daily, and is known for its Nikkei index. EuroNext: Located in Amsterdam, Netherlands Other important stock exchanges are: Hong Kong Stock Exchange (HKEX) Shenzhen Stock Exchange (SZSE) London Stock Exchange (LSE) Japan Exchange Group National Stock Exchange of India Limited Saudi Exchange (Tadāwul) You deserve the credit and respect of the financial market, congratulations 

The EU Listing Act package has been published in the Official Journal and will enter into force on 4 December 2024. It contains new rules for companies listing their securities on European stock exchanges. Especially for SMEs, the access to the capital markets shall be simplified.   The EU Listing Act package consists of the following elements: 1️⃣ The Listing Regulation amends the Prospectus Regulation, the Market Abuse Regulation (#MAR), and the Markets in Financial Instruments Regulation (#MiFIR). It simplifies the Prospectus Regulation exemption thresholds. Furthermore, with the EU Follow-On Prospectus and the EU Growth Issuance Prospectus it introduces new types of prospectuses as well as a “Prospectus Summary”. The changes to the MAR include simplifications on the reporting and disclosure obligations for buy-back programmes, clarifications on the market sounding regime, and new rules on the prevention of insider dealing. Finally, the Listing Regulation updates the requirements for operators of trading venues on the record keeping of order data according to Art. 25 MiFIR. 2️⃣ The Listing Directive amends the revised Markets in Financial Instruments Directive (#MiFID2) with regard to investment research and the ability of segments of MTFs to apply for the registration as SME growth markets. 3️⃣ The Multiple-Vote Directive harmonises rules on multi-volte share structures on EU level.   The EU Listing Act aims to increase the attractiveness of the EU capital markets and facilitate the listing of companies of all sizes. The new rules affect all listed companies as well as investment firms and market operators.   We at LPA support our clients since many years in the compliance with capital markets regulations. If you have questions feel free to contact our markets compliance experts Dr. Burkhard Eisele, Christian Behm, Karla Gerling, Anwar Sawyer, Philipp Faulstich, CFA, Joel Ennen, Christopher Grohmann and me. #EUListingAct #ProspectusRegulation #InsiderDealing #Compliance

Capital Market and Securities Laws SEBI Update : Industry Standards on verification of market rumours (May 21, 2024) In order to facilitate ease of doing business, the Industry Standards Forum (“ISF”) comprising of representatives from three industry associations, viz. ASSOCHAM, CII and FICCI, under the aegis of the Stock Exchanges, on a pilot basis, has formulated industry standards, in consultation with SEBI, for effective implementation of the requirement to verify market rumours under Regulation 30(11) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”). It is provided that the industry associations which are part of ISF (ASSOCHAM, FICCI, and CII) and the stock exchanges shall publish the industry standards note on their websites and listed entities are required to follow the aforesaid industry standards to ensure compliance with Regulation 30(11) of LODR Regulations. The requirement to verify market rumours under Regulation 30(11) of LODR Regulations is applicable to top 100 listed entities with effect from June 01, 2024 and to top 250 listed entities (i.e., next top 150) with effect from December 01, 2024 as specified by SEBI circular dated January 25, 2024. For details : https://lnkd.in/gZcaK6B7

Un-Missable with Nabila Jamal. Share market scams involve fraudulent activities in the stock market, aiming to deceive investors and manipulate markets. Some common types of share market scams include: - Pump and dump schemes: Inflating stock prices through false information, then selling at the peak. - Ponzi schemes: Paying returns to existing investors using funds from new investors, rather than generating revenue. - Insider trading: Using confidential information to trade stocks illegally. - Phony stock offerings: Creating fake companies or IPOs to collect investment money. - Boiler room scams: Using high-pressure sales tactics to sell worthless or non-existent stocks. To avoid falling prey: - Research thoroughly before investing. - Verify the legitimacy of investment opportunities. - Be cautious of unsolicited investment offers. - Don't invest in unregistered or unlicensed schemes. - Keep personal financial information secure. Remember, if it seems too good to be true, it probably is! Always prioritize caution and due diligence in share market investments.

The Securities Exchange Board of India (#SEBI) has issued a circular aimed at extending cross-margin benefits for offsetting positions with different expiry dates, effective from July 23, 2024. This move underscores SEBI's commitment to safeguarding investor interests and ensuring the efficient regulation of the #securities market. 🔴Understanding Cross Margin Benefits Cross-margining is a mechanism that allows traders to utilize excess margin in one account to meet the margin requirements in another, thereby optimizing the use of available margin across multiple accounts. By facilitating the transfer of excess margin, cross-margining enhances liquidity, reduces margin requirements, and lowers net settlements. Notably, the National Stock Exchange (#NSE) introduced a cross-margining facility in January 2020. 🔴Key Provisions of SEBI's Circular SEBI's circular delineates specific scenarios and corresponding margin requirements for obtaining cross-margin benefits. In Situation I, where correlated indices have different expiry dates, a spread margin of 40 percent will be imposed, while a 30 percent spread margin continues for indices with the same expiry date. Similarly, in Situation II, involving index and constituents with differing expiry dates, a 35 percent spread margin applies, with a 25 percent margin for identical expiry dates. 🔴Implementation and Monitoring Mechanisms To ensure compliance and effectiveness, #SEBI directs exchanges and clearing corporations to establish monitoring mechanisms to track participants' cross-margin activities. Additionally, the circular stipulates that the spread margin benefit will cease at the start of the expiry day of the position expiring first if the expiry dates of both legs of the position differ. Notably, while these changes extend cross-margin benefits, existing requirements and regulations concerning cross-margining remain unchanged and applicable. SEBI's proactive approach to enhancing cross-margin benefits reflects its commitment to fostering a transparent, efficient, and investor-friendly securities market in India. By providing clarity on margin requirements and facilitating the efficient use of available margin, this circular contributes to a more resilient and dynamic trading ecosystem. #NSE #SEBI #SEBIupdates #MarketUpdates https://lnkd.in/dZcsk4WW

📣 Listed companies: The new recommendation concerning information to be disclosed in connection with directed share issues highlights the need to provide more comprehensive reasoning for the deviation from the shareholders’ pre-emptive rights and the scope of investors the offering is directed to. Read more on our latest article on the topic.

Capital Market and Securities Laws SEBI Update : Industry Standards on verification of market rumours (May 21, 2024) In order to facilitate ease of doing business, the Industry Standards Forum (“ISF”) comprising of representatives from three industry associations, viz. ASSOCHAM, CII and FICCI, under the aegis of the Stock Exchanges, on a pilot basis, has formulated industry standards, in consultation with SEBI, for effective implementation of the requirement to verify market rumours under Regulation 30(11) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”). It is provided that the industry associations which are part of ISF (ASSOCHAM, FICCI, and CII) and the stock exchanges shall publish the industry standards note on their websites and listed entities are required to follow the aforesaid industry standards to ensure compliance with Regulation 30(11) of LODR Regulations. The requirement to verify market rumours under Regulation 30(11) of LODR Regulations is applicable to top 100 listed entities with effect from June 01, 2024 and to top 250 listed entities (i.e., next top 150) with effect from December 01, 2024 as specified by SEBI circular dated January 25, 2024. For details : https://lnkd.in/gZcaK6B7