The Securities and Exchange Board of India (SEBI) on April 30, 2024, notified regarding the 205th meeting of the SEBI Board.
The following has been approved by the SEBI Board:
• Amendments to SEBI (Infrastructure Investment Trusts) Regulations, 2014 and SEBI (Real Estate Investment Trusts) Regulations, 2014 to provide a framework for Unit Based Employee Benefit Scheme.
• Flexibility to Venture Capital Funds, registered under the erstwhile SEBI (Venture Capital Regulations), 1996 (‘VCF Regulations’), to deal with unliquidated investments of their schemes upon expiry of tenure by opting to migrate into SEBI (Alternative Investment Funds) Regulations, 2012 (‘AIF Regulations’).
• Amendments to SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 to modify provisions relating to disclosure of financial results in the offer documents, record date, due-diligence certificate and reduction in face value of debt securities and Non-convertible Redeemable Preference Shares.
• Amendments to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for providing flexibility regarding publication of financial results in newspapers for entities that have listed only Non-Convertible Securities.
• Flexibility for increased participation by Non-Resident Indians (“NRIs”), Overseas Citizens of India (“OCIs”) and Resident Indian (“RIs”) individuals in SEBI registered Foreign Portfolio Investors (FPIs) based out of International Financial Services Centres (“IFSCs”) in India and regulated by the International Financial Services Centres Authority (“IFSCA”).
• Streamlining of prudential norms for passive schemes with respect to exposure to securities of group companies of the sponsor to facilitate a level playing field for mutual funds.
• AMCs to have an institutional mechanism for deterrence of potential market abuse including front-running.
• Ease of Doing Business for Market Infrastructure Institutions (MIIs).
[Pres Release No.08/2024]
