SEBI held its board meeting today and took the following decisions:
(1) Relaxation for preferential issues by providing an additional pricing methodology apart from the one prescribed under Regulation 164(1) of ICDR Regulations.
(2) Amendments to Takeover Code: allowing bulk/block deal acquisition during open offer; deposit of amount in escrow 2 days before detailed public statement in case of open offer due to indirect acquisition; 10% simple interest payable to shareholders tendering shares in case of certain delay in making open offer.
(3) Insider Trading Regulations: Maintenance of structured digital database; automated filing of disclosure; trading window restrictions; norms related to non-compliance with code of conduct violations.
(4) Settlement Regulations: Changes to calculation of base amount; rationalisation of calculation in certain instances; informing settlement option as part of Show Cause Notice.
(5) Annual Report of 2019-20 approved and to be submitted to central government.
SEBI Board Meeting – 25.06.2020
- By Regstreet Law Advisors
- / June 25, 2020
Featured in
Latest RegPost
Cateories
- Regulators
- Stock Exchanges
- Commodity Exchanges
- Depositories
- Information Utilities
- Banks
- Insurance Companies
- Mutual Funds
- NBFCs
- Credit Rating Companies
- Financial Institutions
- Merchant Banks
- High Net Worth Individuals
- Collective Investment Management Companies
- Web Aggregators (Insurance)
- Alternative Investment Funds
- Repositories
- Listed Companies
- Share Transfer Agents
- Registrar to an Issue
- Underwriters
- Stock Brokers
- Insurance Brokers
- Sub Brokers
- Shareholders
- Depository Participants
- Startups
- Venture Capital Investors
- Investment Banks
- Portfolio Managers
- Investment Advisors
- Research Analysts
- Foreign Portfolio Investors
- Foreign Institutional Investors
- Telecom and Broadcasting Companies
- Private Equity Investors