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SEBI 𝐁𝐨𝐚𝐫𝐝’𝐬 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐀𝐮𝐭𝐡𝐨𝐫𝐢𝐭𝐲 𝐎𝐯𝐞𝐫 𝐀𝐥𝐥𝐞𝐠𝐚𝐭𝐢𝐨𝐧𝐬 𝐀𝐠𝐚𝐢𝐧𝐬𝐭 𝐒𝐄𝐁𝐈 𝐂𝐡𝐚𝐢𝐫𝐩𝐞𝐫𝐬𝐨𝐧: 𝐄𝐱𝐩𝐞𝐫𝐭𝐬 𝐖𝐞𝐢𝐠𝐡 𝐈𝐧

𝐄𝐓𝐍𝐎𝐖 𝐈𝐧𝐭𝐞𝐫𝐯𝐢𝐞𝐰 𝐨𝐧 𝐒𝐄𝐁𝐈’𝐬 𝐒𝐭𝐫𝐢𝐜𝐭𝐞𝐫 𝐅&𝐎 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐍𝐨𝐫𝐦𝐬

𝐒𝐄𝐁𝐈 𝐁𝐨𝐚𝐫𝐝 𝐌𝐞𝐞𝐭𝐢𝐧𝐠 – 30.09.2024

𝐒𝐄𝐁𝐈 𝐩𝐫𝐨𝐩𝐨𝐬𝐞𝐬 𝐞𝐱𝐞𝐦𝐩𝐭𝐢𝐧𝐠 𝐍𝐂𝐒 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬 𝐟𝐫𝐨𝐦 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐰𝐢𝐧𝐝𝐨𝐰 𝐧𝐨𝐫𝐦𝐬

𝐅𝐥𝐞𝐱𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐢𝐧 𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐌𝐮𝐭𝐮𝐚𝐥 𝐅𝐮𝐧𝐝𝐬 𝐢𝐧 𝐂𝐫𝐞𝐝𝐢𝐭 𝐃𝐞𝐟𝐚𝐮𝐥𝐭 𝐒𝐰𝐚𝐩𝐬

𝐒𝐄𝐁𝐈 𝐞𝐧𝐚𝐛𝐥𝐞𝐬 𝐓+2 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐨𝐟 𝐁𝐨𝐧𝐮𝐬 𝐬𝐡𝐚𝐫𝐞𝐬

𝐎𝐧𝐞-𝐂𝐥𝐢𝐜𝐤 𝐀𝐩𝐩𝐫𝐨𝐯𝐚𝐥: 𝐈𝐅𝐒𝐂𝐀’𝐬 𝐒𝐢𝐧𝐠𝐥𝐞 𝐖𝐢𝐧𝐝𝐨𝐰 𝐈𝐓 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧

𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐀𝐜𝐭: 𝐂𝐥𝐚𝐫𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐧 ‘𝐂𝐨𝐦𝐛𝐢𝐧𝐚𝐭𝐢𝐨𝐧𝐬’

𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐄𝐒𝐎𝐏𝐬 𝐢𝐧 𝐋𝐢𝐠𝐡𝐭 𝐨𝐟 𝐑𝐞𝐜𝐞𝐧𝐭 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐈𝐧𝐝𝐢𝐚

𝐓𝐡𝐞 𝐭𝐲𝐫𝐚𝐧𝐧𝐲 𝐨𝐟 𝐜𝐢𝐫𝐜𝐮𝐥𝐚𝐫𝐬 𝐦𝐮𝐬𝐭 𝐞𝐧𝐝 𝐭𝐨 𝐞𝐧𝐬𝐮𝐫𝐞 𝐝𝐞𝐦𝐨𝐜𝐫𝐚𝐭𝐢𝐜 𝐥𝐞𝐠𝐢𝐭𝐢𝐦𝐚𝐜𝐲 𝐨𝐟 𝐥𝐚𝐰𝐬 𝐚𝐧𝐝 𝐞𝐚𝐬𝐞 𝐨𝐟 𝐝𝐨𝐢𝐧𝐠 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬

𝐈𝐅𝐒𝐂𝐀 𝐂𝐥𝐚𝐫𝐢𝐟𝐢𝐞𝐬 𝐍𝐞𝐭 𝐖𝐨𝐫𝐭𝐡 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 𝐟𝐨𝐫 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐞𝐫𝐦𝐞𝐝𝐢𝐚𝐫𝐢𝐞𝐬

𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚 𝐀𝐩𝐩𝐨𝐢𝐧𝐭𝐬 𝐌𝐬. 𝐃𝐞𝐞𝐩𝐭𝐢 𝐆𝐚𝐮𝐫 𝐌𝐮𝐤𝐞𝐫𝐣𝐞𝐞 𝐚𝐬 𝐚 𝐍𝐞𝐰 𝐏𝐚𝐫𝐭-𝐓𝐢𝐦𝐞 𝐌𝐞𝐦𝐛𝐞𝐫 𝐭𝐨 𝐒𝐄𝐁𝐈

$230 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐖𝐚𝐳𝐢𝐫𝐗 𝐇𝐚𝐜𝐤: 𝐌𝐚𝐣𝐨𝐫 𝐋𝐨𝐬𝐬𝐞𝐬 𝐟𝐨𝐫 𝐈𝐧𝐝𝐢𝐚𝐧 𝐂𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐔𝐬𝐞𝐫𝐬 𝐚𝐧𝐝 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐋𝐞𝐠𝐚𝐥 𝐑𝐞𝐦𝐞𝐝𝐢𝐞𝐬

𝐒𝐄𝐁𝐈 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐭𝐢𝐨𝐧 𝐩𝐚𝐩𝐞𝐫 𝐨𝐧 𝐩𝐫𝐨𝐯𝐢𝐬𝐢𝐨𝐧𝐬 𝐩𝐞𝐫𝐭𝐚𝐢𝐧𝐢𝐧𝐠 𝐭𝐨 𝐚𝐩𝐩𝐨𝐢𝐧𝐭𝐦𝐞𝐧𝐭 𝐨𝐟 𝐏𝐮𝐛𝐥𝐢𝐜 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫𝐬

𝗥𝗲𝘃𝗶𝗲𝘄 𝗼𝗳 𝗦𝗘𝗕𝗜 (𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝘁 𝗕𝗮𝗻𝗸𝗲𝗿𝘀) 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀, 𝟭𝟵𝟗𝟮

𝐁𝐨𝐦𝐛𝐚𝐲 𝐇𝐢𝐠𝐡 𝐂𝐨𝐮𝐫𝐭 𝐈𝐦𝐩𝐨𝐬𝐞𝐬 𝐑𝐬 80 𝐋𝐚𝐤𝐡 𝐂𝐨𝐬𝐭 𝐨𝐧 𝐒𝐄𝐁𝐈, 𝐁𝐒𝐄 𝐚𝐧𝐝 𝐍𝐒𝐄 𝐟𝐨𝐫 𝐈𝐥𝐥𝐞𝐠𝐚𝐥 𝐅𝐫𝐞𝐞𝐳𝐢𝐧𝐠 𝐨𝐟 𝐃𝐞𝐦𝐚𝐭 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐚𝐧𝐝 𝐀𝐩𝐚𝐭𝐡𝐲

𝐒𝐄𝐁𝐈 𝐄𝐚𝐬𝐞𝐬 𝐁𝐨𝐫𝐫𝐨𝐰𝐢𝐧𝐠 𝐑𝐮𝐥𝐞𝐬 𝐟𝐨𝐫 𝐀𝐈𝐅𝐬 𝐭𝐨 𝐀𝐝𝐝𝐫𝐞𝐬𝐬 𝐃𝐫𝐚𝐰𝐝𝐨𝐰𝐧 𝐒𝐡𝐨𝐫𝐭𝐟𝐚𝐥𝐥𝐬 𝐚𝐧𝐝 𝐢𝐬𝐬𝐮𝐞𝐬 𝐠𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬 𝐟𝐨𝐫 𝐦𝐚𝐱𝐢𝐦𝐮𝐦 𝐩𝐞𝐫𝐦𝐢𝐬𝐬𝐢𝐛𝐥𝐞 𝐥𝐢𝐦𝐢𝐭 𝐨𝐧 𝐋𝐕𝐅 𝐓𝐞𝐧𝐮𝐫𝐞 𝐄𝐱𝐭𝐞𝐧𝐬𝐢𝐨𝐧𝐬

𝐂𝐞𝐥𝐞𝐛𝐫𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐁𝐨𝐦𝐛𝐚𝐲 𝐇𝐢𝐠𝐡 𝐂𝐨𝐮𝐫𝐭 𝐅𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧 𝐃𝐚𝐲!

𝐑𝐁𝐈’𝐬 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 𝐟𝐨𝐫 𝐇𝐅𝐂𝐬 𝐭𝐨 𝐀𝐥𝐢𝐠𝐧 𝐰𝐢𝐭𝐡 𝐍𝐁𝐅𝐂𝐬

𝐒𝐄𝐁𝐈 𝐏𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐬 𝐢𝐭𝐬 𝐀𝐧𝐧𝐮𝐚𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 2023-24

𝐑𝐞𝐠𝐬𝐭𝐫𝐞𝐞𝐭 𝐋𝐚𝐰 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐬 𝐒𝐞𝐜𝐮𝐫𝐞𝐬 𝐒𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭 𝐰𝐢𝐭𝐡 𝐒𝐄𝐁𝐈 𝐟𝐨𝐫 𝐏𝐚𝐫𝐭𝐢𝐞𝐬 𝐢𝐧 𝐏𝐢𝐫𝐚𝐦𝐚𝐥 𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞𝐬 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐈𝐧𝐬𝐢𝐝𝐞𝐫 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐂𝐚𝐬𝐞

𝐑𝐞𝐠𝐬𝐭𝐫𝐞𝐞𝐭 𝐋𝐚𝐰 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐬 𝐀𝐜𝐡𝐢𝐞𝐯𝐞𝐬 𝐋𝐚𝐧𝐝𝐦𝐚𝐫𝐤 𝐕𝐢𝐜𝐭𝐨𝐫𝐲 𝐟𝐨𝐫 𝐚 𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐞𝐫𝐜𝐡𝐚𝐧𝐭 𝐁𝐚𝐧𝐤𝐞𝐫 𝐢𝐧 𝐒𝐄𝐁𝐈 𝐏𝐫𝐨𝐜𝐞𝐞𝐝𝐢𝐧𝐠𝐬

𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐀𝐬𝐬𝐞𝐭 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐂𝐫𝐞𝐝𝐢𝐭 𝐑𝐚𝐭𝐢𝐧𝐠𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐈𝐅𝐒𝐂

𝐑𝐁𝐈’𝐬 𝐯𝐢𝐬𝐢𝐨𝐧 𝐟𝐨𝐫 𝐚 𝐜𝐨𝐦𝐛𝐢𝐧𝐞𝐝 𝐚𝐬𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐦𝐨𝐝𝐞𝐥 𝐚𝐭 𝐭𝐡𝐞 𝐁𝐅𝐒𝐈 𝐒𝐮𝐦𝐦𝐢𝐭

𝐒𝐄𝐁𝐈 𝐀𝐮𝐭𝐡𝐨𝐫𝐢𝐳𝐞𝐬 𝐄𝐑𝐏𝐬 𝐚𝐧𝐝 𝐂𝐑𝐀𝐬 𝐭𝐨 𝐎𝐩𝐞𝐫𝐚𝐭𝐞 𝐔𝐧𝐝𝐞𝐫 𝐈𝐅𝐒𝐂𝐀

𝐒𝐮𝐦𝐦𝐚𝐫𝐲 𝐏𝐫𝐨𝐜𝐞𝐞𝐝𝐢𝐧𝐠𝐬 𝐟𝐨𝐫 𝐒𝐄𝐁𝐈 𝐈𝐧𝐭𝐞𝐫𝐦𝐞𝐝𝐢𝐚𝐫𝐢𝐞𝐬

𝐇𝐨𝐰 𝐈𝐧𝐝𝐨𝐫𝐞 𝐡𝐚𝐬 𝐛𝐞𝐜𝐨𝐦𝐞 𝐭𝐡𝐞 𝐡𝐮𝐛 𝐨𝐟 𝐮𝐧𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐞𝐝 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐝𝐯𝐢𝐬𝐨𝐫𝐬

𝐅𝐢𝐧𝐟𝐥𝐮𝐞𝐧𝐜𝐞𝐫 𝐧𝐨𝐫𝐦𝐬: 𝐖𝐡𝐚𝐭 𝐢𝐟 𝐭𝐡𝐞𝐲’𝐫𝐞 𝐌𝐅 𝐝𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐨𝐫𝐬 𝐭𝐨𝐨?

𝐂𝐞𝐥𝐞𝐛𝐫𝐚𝐭𝐢𝐧𝐠 𝐅𝐀𝐓𝐅 𝐃𝐚𝐲 𝐰𝐢𝐭𝐡 𝐑𝐞𝐠𝐬𝐭𝐫𝐞𝐞𝐭 𝐋𝐚𝐰 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐬!

Wait for an additional SAT bench is 8 years old and still counting

𝐂𝐞𝐥𝐞𝐛𝐫𝐚𝐭𝐢𝐧𝐠 𝐁𝐨𝐦𝐛𝐚𝐲 𝐒𝐭𝐨𝐜𝐤 𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞 𝐃𝐚𝐲!

𝐒𝐄𝐁𝐈 𝐃𝐑𝐀𝐅𝐓 𝐂𝐈𝐑𝐂𝐔𝐋𝐀𝐑: 𝐓𝐑𝐄𝐀𝐓𝐌𝐄𝐍𝐓 𝐎𝐅 𝐈𝐍𝐓𝐄𝐑𝐄𝐒𝐓 𝐈𝐍𝐂𝐎𝐌𝐄 𝐎𝐍 𝐂𝐀𝐒𝐇 𝐂𝐎𝐋𝐋𝐀𝐓𝐄𝐑𝐀𝐋𝐒 𝐑𝐄𝐂𝐄𝐈𝐕𝐄𝐃 𝐁𝐘 𝐂𝐋𝐄𝐀𝐑𝐈𝐍𝐆 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍𝐒 𝐅𝐑𝐎𝐌 𝐂𝐋𝐄𝐀𝐑𝐈𝐍𝐆 𝐌𝐄𝐌𝐁𝐄𝐑𝐒 𝐀𝐍𝐃 𝐔𝐏𝐒𝐓𝐑𝐄𝐀𝐌𝐄𝐃 𝐂𝐋𝐈𝐄𝐍𝐓 𝐅𝐔𝐍𝐃𝐒

𝐖𝐨𝐥𝐟 𝐨𝐟 𝐃𝐚𝐥𝐚𝐥 𝐒𝐭𝐫𝐞𝐞𝐭: 𝐌𝐫. 𝐑𝐚𝐤𝐞𝐬𝐡 𝐉𝐡𝐮𝐧𝐣𝐡𝐮𝐧𝐰𝐚𝐥𝐚

𝐒𝐄𝐁𝐈 𝐇𝐢𝐧𝐝𝐞𝐧𝐛𝐮𝐫𝐠 𝐑𝐨𝐰: 𝐖𝐡𝐨 𝐢𝐬 𝐌𝐚𝐫𝐤 𝐊𝐢𝐧𝐠𝐝𝐨𝐧, 𝐭𝐡𝐞 𝐦𝐚𝐧 𝐮𝐧𝐝𝐞𝐫 𝐒𝐞𝐛𝐢 𝐫𝐚𝐝𝐚𝐫?

𝐒𝐄𝐁𝐈 𝐚𝐜𝐭𝐢𝐨𝐧 𝐚𝐠𝐚𝐢𝐧𝐬𝐭 𝐇𝐢𝐧𝐝𝐞𝐧𝐛𝐮𝐫𝐠 𝐦𝐚𝐲 𝐫𝐮𝐧 𝐢𝐧𝐭𝐨 𝐣𝐮𝐫𝐢𝐬𝐝𝐢𝐜𝐭𝐢𝐨𝐧𝐚𝐥 𝐰𝐚𝐥𝐥

𝐓𝐫𝐮𝐞 𝐭𝐨 𝐋𝐚𝐛𝐞𝐥: 𝐒𝐄𝐁𝐈’𝐬 𝐍𝐞𝐰 𝐂𝐢𝐫𝐜𝐮𝐥𝐚𝐫 𝐨𝐧 𝐂𝐡𝐚𝐫𝐠𝐞𝐬 𝐨𝐟 𝐌𝐈𝐈𝐬

𝐒𝐄𝐁𝐈 𝐁𝐨𝐚𝐫𝐝 𝐌𝐞𝐞𝐭𝐢𝐧𝐠 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

Understanding International Investment Position (IIP) in light of RBI’s Recent Report

𝐒𝐩𝐞𝐜𝐢𝐚𝐥 𝐂𝐚𝐥𝐥 𝐀𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐋𝐢𝐬𝐭𝐞𝐝 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐚𝐧𝐝 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐇𝐨𝐥𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬

𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐥 𝐚𝐝𝐯𝐢𝐬𝐨𝐫𝐢𝐞𝐬: 𝐈𝐬 𝐒𝐄𝐁𝐈 𝐰𝐚𝐥𝐤𝐢𝐧𝐠 𝐨𝐧 𝐭𝐡𝐞 𝐫𝐢𝐠𝐡𝐭 𝐬𝐢𝐝𝐞 𝐨𝐟 𝐥𝐚𝐰?

𝐂𝐨𝐦𝐩𝐞𝐧𝐬𝐚𝐭𝐢𝐨𝐧 𝐜𝐥𝐚𝐢𝐦𝐬 𝐩𝐥𝐮𝐧𝐠𝐞 𝐚𝐬 𝐒𝐞𝐛𝐢 𝐜𝐫𝐚𝐜𝐤𝐝𝐨𝐰𝐧 𝐢𝐧𝐭𝐞𝐧𝐬𝐢𝐟𝐢𝐞𝐬

𝐃𝐢𝐝 𝐏𝐌 𝐌𝐨𝐝𝐢 𝐚𝐧𝐝 𝐀𝐦𝐢𝐭 𝐒𝐡𝐚𝐡 𝐛𝐫𝐞𝐚𝐤 𝐚𝐧𝐲 𝐒𝐞𝐛𝐢 𝐫𝐮𝐥𝐞 𝐛𝐲 𝐩𝐫𝐞𝐝𝐢𝐜𝐭𝐢𝐧𝐠 𝐬𝐭𝐨𝐜𝐤 𝐦𝐚𝐫𝐤𝐞𝐭 𝐫𝐚𝐥𝐥𝐲 𝐚𝐟𝐭𝐞𝐫 𝐞𝐥𝐞𝐜𝐭𝐢𝐨𝐧𝐬?

SEBI’𝐬 𝐁𝐞𝐞𝐟 𝐖𝐢𝐭𝐡 𝐕𝐢𝐫𝐭𝐮𝐚𝐥 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐀𝐩𝐩𝐬

𝐓𝐡𝐞 𝐭𝐲𝐫𝐚𝐧𝐧𝐲 𝐨𝐟 𝐜𝐢𝐫𝐜𝐮𝐥𝐚𝐫𝐬 𝐦𝐮𝐬𝐭 𝐞𝐧𝐝 𝐭𝐨 𝐞𝐧𝐬𝐮𝐫𝐞 𝐝𝐞𝐦𝐨𝐜𝐫𝐚𝐭𝐢𝐜 𝐥𝐞𝐠𝐢𝐭𝐢𝐦𝐚𝐜𝐲 𝐨𝐟 𝐥𝐚𝐰𝐬 𝐚𝐧𝐝 𝐞𝐚𝐬𝐞 𝐨𝐟 𝐝𝐨𝐢𝐧𝐠 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬.

𝐒𝐄𝐁𝐈 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐬 𝐚𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐈𝐧𝐝𝐢𝐚𝐧 𝐌𝐮𝐭𝐮𝐚𝐥 𝐅𝐮𝐧𝐝 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐎𝐯𝐞𝐫𝐬𝐞𝐚𝐬 𝐌𝐮𝐭𝐮𝐚𝐥 𝐅𝐮𝐧𝐝𝐬 𝐰𝐡𝐢𝐜𝐡 𝐡𝐚𝐬 𝐞𝐱𝐩𝐨𝐬𝐮𝐫𝐞 𝐭𝐨 𝐈𝐧𝐝𝐢𝐚𝐧 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬

𝐈𝐁𝐁𝐈 𝐢𝐬𝐬𝐮𝐞𝐬 𝐃𝐢𝐬𝐜𝐮𝐬𝐬𝐢𝐨𝐧 𝐩𝐚𝐩𝐞𝐫 𝐟𝐨𝐫 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧𝐢𝐧𝐠 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐔𝐭𝐢𝐥𝐢𝐭𝐢𝐞𝐬

𝐒𝐄𝐁𝐈 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐭𝐢𝐨𝐧 𝐏𝐚𝐩𝐞𝐫: 𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐄𝐚𝐬𝐞 𝐨𝐟 𝐃𝐨𝐢𝐧𝐠 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐟𝐨𝐫 𝐍𝐨𝐧-𝐂𝐨𝐧𝐯𝐞𝐫𝐭𝐢𝐛𝐥𝐞 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬

𝐌𝐚𝐧𝐝𝐚𝐭𝐨𝐫𝐲 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐚𝐲𝐨𝐮𝐭: 𝐀 𝐬𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐜𝐡𝐚𝐧𝐠𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐒𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭 𝐩𝐫𝐨𝐜𝐞𝐬𝐬

𝐑𝐁𝐈 𝐢𝐬𝐬𝐮𝐞𝐬 𝐮𝐩𝐝𝐚𝐭𝐞𝐝 𝐝𝐢𝐫𝐞𝐜𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐜𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐨𝐟 𝐌𝐚𝐫𝐠𝐢𝐧 𝐢𝐧 𝐃𝐞𝐫𝐢𝐯𝐚𝐭𝐢𝐯𝐞𝐬 𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭𝐬

𝐁𝐖 𝐋𝐞𝐠𝐚𝐥 𝐖𝐨𝐫𝐥𝐝’𝐬 𝐂𝐨𝐧𝐯𝐞𝐫𝐬𝐚𝐭𝐢𝐨𝐧 𝐰𝐢𝐭𝐡 𝐒𝐮𝐦𝐢𝐭 𝐀𝐠𝐫𝐚𝐰𝐚𝐥, 𝐅𝐨𝐮𝐧𝐝𝐞𝐫 𝐚𝐧𝐝 𝐏𝐚𝐫𝐭𝐧𝐞𝐫 𝐨𝐟 𝐑𝐞𝐠𝐬𝐭𝐫𝐞𝐞𝐭 𝐋𝐚𝐰 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐬

𝐈𝐅𝐒𝐂𝐀 𝐈𝐬𝐬𝐮𝐞𝐬 𝐂𝐢𝐫𝐜𝐮𝐥𝐚𝐫 𝐨𝐧 𝐈𝐧𝐭𝐞𝐫𝐧𝐞𝐭 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐟𝐨𝐫 𝐜𝐥𝐢𝐞𝐧𝐭𝐬 𝐨𝐟 𝐈𝐁𝐔𝐬

𝐅𝐚𝐜𝐢𝐥𝐢𝐭𝐚𝐭𝐢𝐧𝐠 𝐆𝐨𝐥𝐝 𝐚𝐧𝐝 𝐒𝐢𝐥𝐯𝐞𝐫 𝐈𝐦𝐩𝐨𝐫𝐭𝐬: 𝐈𝐧𝐝𝐢𝐚𝐧 𝐁𝐚𝐧𝐤𝐬’ 𝐝𝐢𝐫𝐞𝐜𝐭 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐈𝐈𝐁𝐗.

𝐈𝐑𝐃𝐀𝐈 𝐅𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧 𝐃𝐚𝐲 & 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐀𝐰𝐚𝐫𝐞𝐧𝐞𝐬𝐬 𝐃𝐚𝐲

𝐇𝐲𝐩𝐨𝐭𝐡𝐞𝐭𝐢𝐜𝐚𝐥 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐀𝐝𝐯𝐞𝐫𝐭𝐢𝐬𝐢𝐧𝐠: 𝐒𝐄𝐂’𝐬 𝐂𝐫𝐚𝐜𝐤𝐝𝐨𝐰𝐧 𝐨𝐧 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐀𝐝𝐯𝐢𝐬𝐞𝐫𝐬

Regstreet Law Advisors 𝐰𝐢𝐭𝐡 𝑫𝒆𝒑𝒖𝒕𝒚 𝑪𝒉𝒊𝒆𝒇 𝑴𝒊𝒏𝒊𝒔𝒕𝒆𝒓 𝑫𝒆𝒗𝒆𝒏𝒅𝒓𝒂 𝑭𝒂𝒅𝒏𝒂𝒗𝒊𝒔: 𝐀𝐧 𝐈𝐧𝐬𝐩𝐢𝐫𝐢𝐧𝐠 𝐄𝐧𝐜𝐨𝐮𝐧𝐭𝐞𝐫

𝐑𝐁𝐈 𝐞𝐚𝐬𝐞𝐬 𝐫𝐮𝐥𝐞𝐬 𝐟𝐨𝐫 𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭 𝐞𝐧𝐭𝐢𝐭𝐢𝐞𝐬 𝐭𝐨 𝐡𝐞𝐝𝐠𝐞 𝐭𝐡𝐞𝐢𝐫 𝐠𝐨𝐥𝐝 𝐩𝐫𝐢𝐜𝐞 𝐫𝐢𝐬𝐤 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐎𝐓𝐂 𝐝𝐞𝐫𝐢𝐯𝐚𝐭𝐢𝐯𝐞𝐬 𝐢𝐧 𝐈𝐅𝐒𝐂

𝐑𝐁𝐈’𝐬 𝐩𝐫𝐮𝐝𝐞𝐧𝐭 𝐨𝐯𝐞𝐫𝐬𝐢𝐠𝐡𝐭 𝐢𝐧 𝐠𝐫𝐚𝐧𝐭𝐢𝐧𝐠 ‘𝐨𝐧 𝐭𝐚𝐩’ 𝐒𝐦𝐚𝐥𝐥 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐋𝐢𝐜𝐞𝐧𝐬𝐞

𝐅𝐮𝐥𝐥 𝐁𝐞𝐧𝐜𝐡 𝐚𝐭 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬 𝐀𝐩𝐩𝐞𝐥𝐥𝐚𝐭𝐞 𝐓𝐫𝐢𝐛𝐮𝐧𝐚𝐥 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐚𝐩𝐩𝐨𝐢𝐧𝐭𝐦𝐞𝐧𝐭 𝐨𝐟 𝐚 𝐧𝐞𝐰 𝐏𝐫𝐞𝐬𝐢𝐝𝐢𝐧𝐠 𝐎𝐟𝐟𝐢𝐜𝐞𝐫 𝐚𝐧𝐝 𝐓𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐌𝐞𝐦𝐛𝐞𝐫

𝐂𝐥𝐚𝐫𝐢𝐭𝐲 𝐢𝐧 𝐂𝐮𝐫𝐫𝐞𝐧𝐜𝐲: 𝐍𝐞𝐞𝐝 𝐟𝐨𝐫 𝐠𝐫𝐞𝐚𝐭𝐞𝐫 𝐩𝐮𝐛𝐥𝐢𝐜 𝐜𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐛𝐲 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐬

𝐌𝐢𝐧𝐢𝐬𝐭𝐫𝐲 𝐨𝐟 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐚𝐩𝐩𝐨𝐢𝐧𝐭𝐬 𝐏𝐫𝐞𝐬𝐢𝐝𝐢𝐧𝐠 𝐎𝐟𝐟𝐢𝐜𝐞𝐫 𝐚𝐧𝐝 𝐓𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐌𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬 𝐀𝐩𝐩𝐞𝐥𝐥𝐚𝐭𝐞 𝐓𝐫𝐢𝐛𝐮𝐧𝐚𝐥

𝐈𝐅𝐒𝐂𝐀 𝐞𝐧𝐚𝐛𝐥𝐞𝐬 𝐫𝐞𝐦𝐨𝐭𝐞 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐢𝐧 𝐈𝐅𝐒𝐂 𝐛𝐲 𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐧𝐭𝐬 𝐢𝐧 𝐟𝐨𝐫𝐞𝐢𝐠𝐧 𝐬𝐭𝐨𝐜𝐤 𝐞𝐱𝐜𝐡𝐚𝐧𝐠𝐞𝐬

𝐒𝐄𝐁𝐈 𝐬𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧𝐬 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫 𝐩𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐦𝐞𝐚𝐬𝐮𝐫𝐞𝐬, 𝐢𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐞𝐬 𝐒𝐂𝐎𝐑𝐄𝐒 2.0

𝐀𝐛𝐬𝐞𝐧𝐜𝐞 𝐨𝐟 𝐟𝐮𝐥𝐥 𝐛𝐞𝐧𝐜𝐡 𝐦𝐚𝐫𝐬 𝐟𝐮𝐧𝐜𝐭𝐢𝐨𝐧𝐢𝐧𝐠 𝐨𝐟 𝐒𝐀𝐓

𝐈𝐂𝐈𝐂𝐈 𝐁𝐚𝐧𝐤 𝐮𝐧𝐝𝐞𝐫 𝐟𝐢𝐫𝐞 𝐟𝐨𝐫 𝐚𝐥𝐥𝐞𝐠𝐞𝐝𝐥𝐲 𝐭𝐫𝐲𝐢𝐧𝐠 𝐭𝐨 𝐢𝐧𝐟𝐥𝐮𝐞𝐧𝐜𝐞 𝐈-𝐒𝐞𝐜’𝐬 𝐦𝐢𝐧𝐨𝐫𝐢𝐭𝐲 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬

𝐑𝐁𝐈 𝐈𝐬𝐬𝐮𝐞𝐬 𝐎𝐦𝐧𝐢𝐛𝐮𝐬 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 𝐟𝐨𝐫 𝐫𝐞𝐜𝐨𝐠𝐧𝐢𝐬𝐢𝐧𝐠 𝐒𝐑𝐎𝐬 𝐟𝐨𝐫 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐞𝐝 𝐄𝐧𝐭𝐢𝐭𝐢𝐞𝐬

𝐔𝐒 𝐒𝐄𝐂 𝐭𝐚𝐫𝐠𝐞𝐭𝐬 ‘𝐀𝐈 𝐖𝐚𝐬𝐡𝐢𝐧𝐠’

𝐄𝐔 𝐥𝐞𝐚𝐝𝐬 𝐭𝐡𝐞 𝐰𝐚𝐲: 𝐇𝐢𝐬𝐭𝐨𝐫𝐢𝐜 𝐩𝐚𝐬𝐬𝐚𝐠𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐰𝐨𝐫𝐥𝐝’𝐬 𝐟𝐢𝐫𝐬𝐭 𝐀𝐈 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧, 𝐛𝐚𝐥𝐚𝐧𝐜𝐢𝐧𝐠 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐰𝐢𝐭𝐡 𝐫𝐢𝐬𝐤 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭

𝐒𝐄𝐁𝐈 𝐒𝐢𝐦𝐩𝐥𝐢𝐟𝐢𝐞𝐬 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐅𝐏𝐈𝐬

𝐂𝐨𝐦𝐦𝐢𝐭𝐭𝐞𝐞 𝐨𝐧 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐋𝐚𝐰 𝐩𝐫𝐨𝐩𝐨𝐬𝐞𝐬 𝐫𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐦𝐞𝐜𝐡𝐚𝐧𝐢𝐬𝐦 𝐟𝐨𝐫 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭𝐬 𝐢𝐧 𝐈𝐧𝐝𝐢𝐚

𝐒𝐄𝐁𝐈 𝐢𝐬𝐬𝐮𝐞𝐬 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐥 𝐠𝐮𝐢𝐝𝐚𝐧𝐜𝐞 𝐨𝐧 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐛𝐲 𝐚𝐧 𝐀𝐈𝐅 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐚𝐧 𝐀𝐑𝐂 𝐓𝐫𝐮𝐬𝐭

𝐒𝐄𝐁𝐈 𝐛𝐫𝐨𝐚𝐝𝐞𝐧𝐬 𝐭𝐡𝐞 𝐩𝐚𝐫𝐚𝐦𝐞𝐭𝐞𝐫𝐬 𝐟𝐨𝐫 𝐝𝐞𝐬𝐢𝐠𝐧𝐚𝐭𝐢𝐧𝐠 𝐐𝐮𝐚𝐥𝐢𝐟𝐢𝐞𝐝 𝐒𝐭𝐨𝐜𝐤 𝐁𝐫𝐨𝐤𝐞𝐫𝐬 (𝐐𝐒𝐁𝐬)

𝐒𝐄𝐁𝐈 𝐧𝐨𝐭𝐢𝐟𝐢𝐞𝐬 𝐭𝐡𝐞 𝐈𝐧𝐝𝐞𝐱 𝐏𝐫𝐨𝐯𝐢𝐝𝐞𝐫𝐬 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬

𝐂𝐞𝐚𝐬𝐞 𝐚𝐧𝐝 𝐃𝐞𝐬𝐢𝐬𝐭 𝐝𝐢𝐫𝐞𝐜𝐭𝐢𝐨𝐧𝐬 𝐚𝐠𝐚𝐢𝐧𝐬𝐭 𝐉𝐌 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐛𝐲 𝐑𝐁𝐈

𝐓𝐡𝐞 𝐌𝐢𝐧𝐢𝐬𝐭𝐫𝐲 𝐨𝐟 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐚𝐩𝐩𝐫𝐨𝐯𝐞𝐬 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐢𝐧 𝐝𝐞𝐫𝐢𝐯𝐚𝐭𝐢𝐯𝐞 𝐨𝐟 11 𝐦𝐨𝐫𝐞 𝐜𝐨𝐦𝐦𝐨𝐝𝐢𝐭𝐢𝐞𝐬

𝐌𝐚𝐬𝐭𝐞𝐫 𝐃𝐢𝐫𝐞𝐜𝐭𝐢𝐨𝐧 – 𝐑𝐞𝐬𝐞𝐫𝐯𝐞 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚 (𝐁𝐡𝐚𝐫𝐚𝐭 𝐁𝐢𝐥𝐥 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦) 𝐃𝐢𝐫𝐞𝐜𝐭𝐢𝐨𝐧𝐬, 2024

𝐒𝐄𝐁𝐈 𝐂𝐡𝐢𝐞𝐟’𝐬 𝐒𝐞𝐜𝐨𝐧𝐝 𝐘𝐞𝐚𝐫: 𝐄𝐦𝐩𝐡𝐚𝐬𝐢𝐬 𝐨𝐧 𝐓𝐞𝐜𝐡 𝐚𝐧𝐝 𝐃𝐚𝐭𝐚-𝐃𝐫𝐢𝐯𝐞𝐧 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐄𝐚𝐬𝐞

𝐒𝐄𝐁𝐈 𝐩𝐫𝐨𝐩𝐨𝐬𝐞𝐬 𝐜𝐡𝐚𝐧𝐠𝐞𝐬 𝐭𝐨 𝐝𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬 𝐟𝐨𝐫 𝐅𝐏𝐈𝐬

𝐂𝐂𝐈 𝐬𝐞𝐞𝐤𝐬 𝐭𝐨 𝐚𝐦𝐞𝐧𝐝 𝐩𝐫𝐨𝐯𝐢𝐬𝐢𝐨𝐧𝐬 𝐰𝐢𝐭𝐡 𝐫𝐞𝐬𝐩𝐞𝐜𝐭 𝐭𝐨 𝐭𝐡𝐞 𝐂𝐨𝐧𝐟𝐢𝐝𝐞𝐧𝐭𝐢𝐚𝐥𝐢𝐭𝐲 𝐌𝐞𝐜𝐡𝐚𝐧𝐢𝐬𝐦

𝐒𝐄𝐁𝐈 𝐈𝐬𝐬𝐮𝐞𝐬 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐲 𝐚𝐠𝐚𝐢𝐧𝐬𝐭 𝐅𝐫𝐚𝐮𝐝𝐮𝐥𝐞𝐧𝐭 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬 𝐯𝐢𝐚 𝐅𝐏𝐈 𝐑𝐨𝐮𝐭𝐞

𝐒𝐄𝐁𝐈 𝐩𝐫𝐨𝐩𝐨𝐬𝐞𝐬 𝐞𝐚𝐬𝐞 𝐨𝐟 𝐝𝐨𝐢𝐧𝐠 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐢𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬 𝐟𝐨𝐫 𝐌𝐮𝐭𝐮𝐚𝐥 𝐅𝐮𝐧𝐝𝐬

𝐅𝐚𝐥𝐢 𝐒𝐚𝐦 𝐍𝐚𝐫𝐢𝐦𝐚𝐧 – 𝑨 𝑳𝒂𝒔𝒕𝒊𝒏𝒈 𝑳𝒆𝒈𝒂𝒄𝒚

𝐒𝐄𝐁𝐈 𝐂𝐢𝐫𝐜𝐮𝐥𝐚𝐫 𝐟𝐨𝐫 𝐂𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐢𝐧𝐠 𝐅𝐀𝐓𝐂𝐀 𝐚𝐧𝐝 𝐂𝐑𝐒 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬

𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐑𝐞𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬: 𝐈𝐑𝐃𝐀𝐈’𝐬 𝐏𝐫𝐨𝐩𝐨𝐬𝐞𝐝 𝐆𝐮𝐢𝐝𝐞𝐥𝐢𝐧𝐞𝐬 𝐨𝐧 𝐂𝐨𝐥𝐥𝐚𝐭𝐞𝐫𝐚𝐥𝐢𝐳𝐞𝐝 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬 𝐰𝐢𝐭𝐡 𝐂𝐫𝐨𝐬𝐬 𝐁𝐨𝐫𝐝𝐞𝐫 𝐑𝐞𝐢𝐧𝐬𝐮𝐫𝐞𝐫𝐬

𝐈𝐅𝐒𝐂𝐀 𝐂𝐢𝐫𝐜𝐮𝐥𝐚𝐫: 𝐔𝐩𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐈𝐧𝐭𝐞𝐠𝐫𝐢𝐭𝐲 𝐟𝐨𝐫 𝐅𝐮𝐧𝐝 𝐌𝐚𝐧𝐚𝐠𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐫𝐞𝐧𝐚

𝐏𝐅𝐑𝐃𝐀 𝐛𝐫𝐢𝐧𝐠𝐬 𝐦𝐚𝐣𝐨𝐫 𝐜𝐡𝐚𝐧𝐠𝐞𝐬 𝐭𝐨 𝐭𝐡𝐞 𝐏𝐞𝐧𝐬𝐢𝐨𝐧 𝐅𝐮𝐧𝐝 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬

𝐒𝐄𝐁𝐈 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐭𝐢𝐨𝐧 𝐏𝐚𝐩𝐞𝐫 𝐨𝐧 𝐄𝐚𝐬𝐞 𝐨𝐟 𝐃𝐨𝐢𝐧𝐠 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬 𝐟𝐨𝐫 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐌𝐚𝐧𝐚𝐠𝐞𝐫𝐬

IRDAI’s Proposed Regulations on Actuarial, Finance, and Investment Functions in Insurance

𝐀𝐩𝐩𝐞𝐚𝐥𝐬 𝐚𝐠𝐚𝐢𝐧𝐬𝐭 𝐒𝐄𝐁𝐈, 𝐈𝐑𝐃𝐀𝐈 𝐚𝐧𝐝 𝐏𝐅𝐑𝐃𝐀 𝐜𝐫𝐢𝐩𝐩𝐥𝐞𝐝 𝐝𝐮𝐞 𝐭𝐨 𝐥𝐚𝐜𝐤 𝐨𝐟 𝐒𝐀𝐓

𝐀 𝐥𝐞𝐠𝐚𝐥 𝐩𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞 𝐨𝐧 𝐒𝐄𝐁𝐈’𝐬 𝐜𝐫𝐚𝐜𝐤𝐝𝐨𝐰𝐧 𝐨𝐧 𝐆𝐫𝐨𝐰𝐩𝐢𝐭𝐚𝐥

𝐓𝐡𝐞 𝐋𝐞𝐠𝐚𝐥 500 𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐑𝐚𝐧𝐤𝐢𝐧𝐠𝐬 2024 – 𝐑𝐚𝐧𝐤𝐬 𝐑𝐞𝐠𝐬𝐭𝐫𝐞𝐞𝐭 𝐋𝐚𝐰 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐬 𝐚𝐧𝐝 𝐌𝐫. 𝐒𝐮𝐦𝐢𝐭 𝐀𝐠𝐫𝐚𝐰𝐚𝐥

IFSCA moves to regulate and strengthen Payment Systems

Anil Kumar Lahoti Appointed as Chairperson of TRAI: A Glimpse into India’s Evolving Telecom Regulatory Landscape

SEBI prohibits using LLP structures to make collective investments

U.S. Securities and Exchange Commission tightens the disclosure and investor protection norms for IPOs through SPAC

Government of India enables Direct Listing of Securities by Indian Companies on International Exchanges

SEBI introduces an additional framework for Offer for Sale (OFS) of Shares to Employees through Stock Exchange Mechanism

Reserve Bank of India (RBI) Bank of India puts out standards for self-regulation of the FinTech Sector

Evolving legal position of contra-trades in India

Guidelines for AIFs with respect to Dematerialization and Appointment of Custodian

A turbulent year for SEBI at SAT

SEBI issues circular on short selling

Regstreet views on Supreme Court of India’s verdict in Adani Group – Hindenburg Research Matter

23 Landmark SAT Judgments of 2023

SEBI relaxes time period for Settlement of Client’s Funds by stock brokers

Reserve Bank of India (RBI) seeks to rationalise Licensing Framework for Authorised Persons (APs) under FEMA

Supreme Court of India (SC) interprets categorisation of CCDs as equity

Reserve Bank of India (RBI) plans to move to a self-regulatory regime for its Regulated Entities

Disciplining the disciplinary process

Reserve Bank of India (RBI) moves to combat evergreening of loans through AIFs

Indian Business Law Journal recognizes Sumit Agrawal in 2023 – 24 ‘A – List’ !!

Regstreet Law Advisors Celebrates Mr. Sumit Agrawal’s Inclusion in BW Legal World 40 Under 40! 🏆

The International Financial Services Centres Authority empowers academic growth at GIFT-IFSC

SAT rules on charges of making false statements and deletion of emails

SEBI proposes framework for REITs and InvITs with respect to (a) issuance of subordinate units; and (b) Unit Based Benefits for the employees

SEBI directs for formulating of Standards for dematerialised units of AIFs

SEBI proposal to lower ticket size of debt instruments for retail investors

Evolution of the role of women directors on the board of listed companies

SEBI Standardizes Framework for Net Distributable Cash Flows by REITs and InvITs

Auditors cannot be held liable fraud in the absence of collusion

SEBI taking ‘obstinate stand’ and ‘persistent non-compliance’ gets pulled by Bombay High Court and separately from SAT for ‘lackadaisical approach’

National Company Law Appellate Tribunal (NCLAT) upholds NFRA penalty on DHFL auditors; The Institute of Chartered Accountants of India and SEBI have limited jurisdiction

Unveiling Securities Fraud: Canvassing in Indian Securities Law

SEBI’s Proposal for Reforms in SSF for Resolution of Stressed Loans

Remembering Charlie Munger: A Legacy of Brilliance, Resilience, and Ethical Leadership

SEBI introduces Regulatory Framework for fractional investing

SEBI moves to regulate Index Providers

SEBI proposes modification to make Trading Plans more flexible

SAT interprets the powers of SEBI to issue directions of restraint

IFSCA Issues Consultation Paper on Remote Broker-Dealers in IFSC

Regulatory Update: Show Cause Notices Issued to Byju’s and Founder Byju Raveendran

SEBI and stock exchanges launch the Investor Risk Reduction Access platform

SEBI does away with requirement for RTAs to report frozen folios under Benami Transactions Act or PMLA

U.S. Securities and Exchange Commission Adopts Rules to Improve Clearing Agency Governance and Mitigate Conflicts of Interest

Can non-promoter held equity warrants be transferred after completion of its lock-in period but prior to conversion into equity shares?

Delays likely in SAT cases as key post falls vacant in December

SEBI Introduces Framework for Unclaimed REIT and InvIT Amounts

It’s a Sham! How to spot the ULIPS sold as mutual funds

Insolvency & Bankruptcy Board of India (IBBI) Discussion Paper addresses key issues in insolvency processes of the real estate projects

The Insurance Regulatory and Development Authority of India (IRDAI) mandates compliance by Financial Information Users in the Insurance Segment

IBBI Discussion Paper proposes Amendments to streamline CIRP Regulations

SEBI simplifies and streamlines format of Offer Documents for Mutual Fund Schemes

India tightens foreign investor rules after Hindenburg report on Adani Group

International Financial Services Centres Authority seeks to reform its Bullion Exchange Regulations

The Insurance Regulatory and Development Authority of India amends the Arbitration Clause in General Insurance policies to enable retail / individual policyholders to pursue alternative forums

Regulatory Initiatives for Simplifying Legal Language in India

Reserve Bank of India (RBI) New Directive: Two Whole Time Directors Required on Bank Boards for Governance

SEBI Announces the List of Empanelled agencies for providing Digital Forensic Services to SEBI

Past performance: A regulatory diktat?

SEBI Takeover Code: Dispute Resolution and Penalties in the SAT Ruling on a Voluntary Open Offer Case

Insurance Regulatory and Development Authority of India issues Circular to extend insurance coverage to employees travelling to employers vehicle

Broad-based Amendments to Maintenance of Records Rules under PMLA

NSE launches 13 new Commodity Derivatives Contracts

Access to personal data by Mutual Funds

SEBI Issues Circular on AML and CFT Guidelines for Securities Market Intermediaries

SEC enhances Beneficial Owner Reporting Requirements

The International Financial Services Centres Authority issues Consultation Paper on revised Payment Services Regulations

Prompt Corrective Action Framework: Reserve Bank of India (RBI) extends applicability to Government NBFCs as well

Regstreet Law Advisors successfully represented the Director (Risk Assurance) and Company Secretary, of a Listed Entity against SEBI’s Fraudulent Buyback Accusations

Centralised Mechanism for recording Investor’s Demise

Market Rumours Amendment: SEBI Extends Deadline for enforcement upon Listed Entities

Regulating Financial Influencers

Disclosure of Secured Assets under SARFAESI Act, 2002

The Pension Fund Regulatory and Development Authority (PFRDA) introduces Default Scheme in NPS Tier II for Government Sector Subscribers

CBDT notifies amendments to Rule 11UA regarding Angel Tax

SEBI Board conducts its 202nd meeting

Regstreet Law Advisors successfully represented KMPs of a Mutual Fund against charges of front running.

Regstreet Law Advisors Team successfully represented in Insider Trading Case against a Merchant Banker (Official)

SEBI Introduces a Circular On Regulatory Reporting by AIFs

Modernising Competition Regulations- Competition Commission Of India’s Proposed Settlement and Commitment Frameworks

Disgorging market miscreants

SEBI Settlement Mechanism – An Overview

SEBI issues Circular on board Nomination Rights to unitholders of REITs and InvITs

Reserve Bank of India (RBI) to discontinue Incremental Cash Reserve Ratio

FinTech and the Changing Financial Landscape

SEBI To Roll Out Instant Settlement of Trades

The Competition Commission Of India (CCI) publishes draft CCI (Combinations) Regulations, 2023

SEBI issues new format of Abridged Prospectus for public issues of Non-Convertible Debt Securities and / or Non-Convertible Redeemable Preference Shares

SEBI publishes consultation paper proposing creation of Performance Validation Agency

Regstreet Law Advisors successfully represented Piramal Pharma Limited at SEBI

SEBI turns to big data to nail the smart violators

SEBI Seeks to Calm FPI Nerves

SEBI Consultation Paper to enhance investments by FPIs in India

Consultation Paper on Association of SEBI Registered Intermediaries/Regulated Entities with Unregistered Entities (including Finfluencers)

SEBI brings in additional disclosure requirement for FPIs

Revised ASCI Guidelines for Finfluencers

RBI changes norms for floating interest rate on EMI based personal loans

SAT refuses to grant relief to Eros International against SEBI Order

RBI changes norms for floating interest rate on EMI based personal loans

SEBIs Online Dispute Resolution platform to empower investors

Facilitation of Grivance Redressal Mechanism by SEBI

Central Government appoints two Whole-Time Members (WTMs) of SEBI

SEBI disgorgement orders hit SAT wall

SEBI Invites for Empanelment of agencies for providing Digital Forensics Services

SEBI Publishes its Annual Report for 2022-23

SEBI introduces OFS for Units of Private Listed InvITs Via Stock Exchange Mechanism.

SEBI releases circular on Audit of firm-level performance data of Portfolio Managers

SEBI releases consultation paper on collating and defining use cases of FIUs in the Account Aggregator Framework in Securities Market

SEBI streamlines the existing dispute resolution to bring in Online Dispute Resolution Mechanism

Compliance, tax major challenges for direct listing abroad

SEBI Settlement order in Fraud of Aequitas Investments

Reverse book-building process: Ideal for stakeholders, bane for promoters

Big Win for Minority Shareholders – Schneider Delisting Case

SEBI expands categories for ESG investments by Mutual Funds

Telecom Regulatory Authority of India releases recommendations on “Leveraging Artificial Intelligence and Big Data in Telecommunication Sector”.

SEBI to take action on officials divulging confidential information to “outsiders”

SEBI to take action on officials divulging confidential information to “outsiders”

Reserve Bank of India (RBI) and Central Bank of The UAE signs MoU to promote cooperation

Court rules “moon – 🌝” emoji could constitute securities fraud

SEBI Invites for Empanelment of agencies for providing Digital Forensics Services

SEBI introduces BRSR Core – Framework for assurance and ESG disclosures for value chain by listed entities

Highlights of SEBI Press Conference

SAT once again upholds the powers of SEBI to seek refund of fees collected by an unregistered investment adviser

Ministry of Finance enables sharing of GSTN information with other authorities

International Financial Services Centres Authority amends banking regulations to allow for setting up of subsidiaries or branch of parent banks

Securities Appellate Tribunal directs SEBI to appoint a new officer to decide on Zee Promoters case

SGX Nifty Transitions to GIFT Nifty: A Shift in Indian Equity Trading

Alternative Dispute Resolution Mechanism by SEBI

International Financial Services Centres Authority releases consultation paper for regulation of Payment Services and Payment Service Providers.

SEBI asks empanelled law firm to return most briefs given to it

SEBI Board Meeting on June 28, 2023

SEBI amends Mutual Funds Regulations

ICICI Bank considering delisting of ICICI SECURITIES

SEBI empowers Investor Services Centres (ISCs) of Stock Exchanges

SEBI remains wary of sharing evidence

SEBI brings major changes in AIFs

SEBI issues settlement order for alleged failure of systems of NSE India and NCL

SEBI prohibits a stock broker from onboarding new clients for 2 years

SEBI Board Meeting announcements get meatier under new chief

The goose that laid the golden eggs

No checks and balances? SEBI requires ‘Separation of Powers’

SEBI raises narrow categorisation, operational issues and jurisdictional challenges as the key concerns for foreign portfolio investors(FPIs).

Rise of Finfluencers and Regulatory Dilemma

Regulating Online Gaming in India

SEBI’s Insider Trading And Unfair Trade Regulations May Soon Have A Baby

SAT Vacancy crisis – hindering India’s regulatory feature

Cashing in on Cases

SEBI issues a settlement order for Wockhardt Ltd. and its directors.

SEBI proposes greater corporate governance norms for REITs and InvITs

SEBI’s FPI mandate will be tricky to enforce, say experts

SEC reward puts spotlight on India’s whistle-blower policy

Competition Commission Of India finally gets a new Chairperson: Ravneet Kaur

SEBI allows FPIs Direct Market Access to Commodity Derivatives

SEBI seeks more information from Trustees of AIFs about fund participants.

SEBI takes action against Telegram Messenger channel

Competition Act gets a facelift with new amendments in 2023

Regstreet Law Advisors successfully represented the former Non-Executive Chairman of CARE Ratings

SEBI seeks transparency and accountability before IPOs of new-age companies

SEBI’s Move to Regulate Finfluencers

Arshad Warsi gets relief from SAT against SEBI WTM Interim Order

Big shareholders seek to cash in as volatility weighs

Supreme Court of India’s interpretation for registration and transfer of membership of stock brokers

Cloud over Vinod Adani’s Related Party Status

Supreme Court of India sets up Special Committee to Investigate SEBI’s failure, if any, and recommend measures to strengthen the regulatory laws:

Adani Group calls off FPO

SEBI notifies significant changes to Listing Regulations and Control of Intermediaries among others

SEBI vs National Company Law Tribunal (NCLT) – Supreme Court decides on interplay between securities law and company law

SEBI introduces further investor protection measures

SEBI settles proceedings in respect of a prominent Mutual Fund and its executives

SEBI issues interim order against Chief Dealer of IDBI Capital Markets & Securities Ltd. in a front running matter

SEBI Imposes Penalty on Man Industries Ltd, its directors and compliance officer after 10 years

New issue pricing onus may put independent directors in a spot

SEBI’s handling of insider trading cases under spotlight

Supreme Court of India allows SEBI appeal in matter pertaining to interpretation of Section 12(1) of SEBI Act, 1992.

Supreme Court of India (SC) dismisses yet another Insider Trading matter of SEBI

SEBI allows REITs and InvITs to issue commercial paper

Supreme Court dismisses SEBI charges of Insider Trading – Abhijit Rajan

Finance Ministry appoints new SEBI Whole Time Member

SEBI Framework for Social Stock Exchange

SEBI cannot rely upon any documents not supplied to the petitioner

Reserve Bank of India (RBI) issues Alert List of unauthorized forex platforms

SAT quashes SEBI order for inordinate delay

SAT quashes appeal against IPO of Tamilnad Mercantile Bank Ltd

Illiquid Stock Options: Settlement Scheme 2.0

SEBI v. Reserve Bank of India (RBI) norms – default on NCDs by listed companies – Supreme Court of India settles the dust

Pending appeal at SAT, SEBI increases penalty imposed by AO

Central Government liberalises overseas investments

SEBI introduces new conditions for investments by portfolio managers

SEBI issues FAQs for Settlement Scheme 2.0

International Financial Services Centres Authority lays down framework for international bullion suppliers

SEBI takes another leap to prevent Insider Trading

Tribunal sets aside SEBI penalty orders in a landmark case relating to ratification of variance in the utilisation of funds raised through a preferential issue

Pension Fund Regulatory and Development Authority (PFRDA) plugs hole in its scheme

SEBI ‘warns’ wrongdoers — to what effect?

SEBI widens ambit to act against intermediaries

An interim SEBI order must not be open-ended

Zero Coupon Zero Principal Instrument declared Security

Issues surrounding an appeal by SEBI against an order of SAT in the Supreme Court

SEBI approved measures to make mergers and acquisitions of listed companies easier and allow the establishment of gold and social stock exchanges in the country

Yoga Guru Baba Ramdev | SEBI | Securities Law

SEBI sends show-cause notices to 141 staff of Titan Company Limited alleging violations

SEBI seeks to review settlement regulations, seeks public feedback on consultation paper

What is Scalping in Securities Law?

SEBI PENALTIES & NON-COMPLIANCE WITH SPOT DELIVERY CONTRACTS

RAKESH JHUNJHUNWALA SETTLEMENT

Allegation of Non-compliance with Code of Conduct under Insider Trading Regulations is distinct from the charge of insider trading itself

SEBI recently settled a matter with Piramal Investment Advisory Services Private Limited

SEBI Board Meeting – 29.06.2021