Government headhunts for new Sebi chief



The finance ministry has put out an advertisement seeking applications from eligible candidates for the post and gave just two weeks against the usual practice of three months. Further, the tenure of the watchdog is again being extended to five years.



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Sebi scraps upfront fees for portfolio mgmt services



The regulator has asked portfolio managers not to leverage the portfolio of clients for investment in derivatives and not indulge in speculative transactions that are not accompanied by actual delivery, except for derivatives trades. This is done with the intention of reducing volatility in the market and curbing undue risks.



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Vodafone crisis spills over into mutual fund schemes



Experts say the impact on the schemes’ NAVs may vary in the coming days, depending upon how fund houses treat the developments on VIL and whether there are any further rating downgrades or credit events.



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NSE 'dark fibre' case: Sebi exonerates Ravi Narain



In May 2019, Sebi had penalised the NSE as well as two of its former heads – Narain and Chitra Ramkrishna – for allowing Sampark to provide the dark fibre connectivity to stock brokers, despite not having the authorised licence. Dark fibre refers to an unused optical fibre used for high-speed connectivity.



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FinMin exempts MFs from foreign-investor status



Last October’s circular meant that downstream investment by such funds by way of subscription or acquisition of shares would have been considered “indirect foreign investment” if their investment manager or sponsor is owned or controlled by a non-resident. The finance ministry has now said that mutual funds that invest more than 50 per cent in equity shall be omitted from the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.



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Funds get a Sebi code to boost corporate governance



Sebi’s stewardship code for mutual funds and alternative investment funds lays down six principles to improve corporate governance standards in their investee companies, reports Jash Kriplani.



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Infosys denies knowledge of any fresh complaint



Infosys pointed out that it is not uncommon for plaintiffs’ lawyers to issue press releases or other media communications asking potential plaintiffs to contact them in order to apply for lead plaintiff status in an existing lawsuit.



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