The Securities and Exchange Board of India (SEBI) on March 15, 2024, of a Beta version of optional T+0 settlement.
The following has been approved by the Board:
• Taking into account stakeholder feedback, the Board approved the launch of a Beta version of optional T+0 settlement, for a limited set of 25 scrips, and with a limited set of brokers. In parallel, SEBI shall continue to do further stakeholder consultation, including with the users of the Beta version. The Board shall review the progress at the end of three months and six months from the date of this implementation, and decide on further course of action.
• In order to facilitate ease of doing business, the Board approved a proposal to exempt additional disclosure requirements for FPIs having more than 50% of their India equity AUM in a single corporate group, in case the concentrated holdings of the FPIs are in a listed company with no identified promoter.
• In order to facilitate ease of doing business for FPIs, the Board approved a proposal to relax the timelines for disclosure of material changes by FPIs. Currently, FPIs must disclose to their DDP, material changes to information provided earlier, within seven working days.
• FPI registrations that expire due to non-payment of registration fee, shall now be permitted to be reactivated within 30 days from such expiry. Such FPIs shall also be permitted to dispose off their securities holdings during this 30-day period. Further, in cases where the FPI chooses not to re-activate its registration within 30 days, it shall be permitted a time period of 180 days for disposal of its securities.
• The Board has approved the proposal to extend the timeline for mandatory applicability of listing norms (i.e. Regulation 16 to 27 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015) and compliance thereof for High Value Debt Listed Entities till March 31, 2025.
[PR No. 05/2024]
