Foreign institutional investors (FIIs) and qualified foreign investors (QFIs) have been permitted to invest in government debt without purchasing debt limits till the overall investment reaches 90%, a Sebi circular issued on Friday said. Once this 90% limit is reached, auction mechanism shall be initiated for allocation of the remaining limits, the circular added. This follows the Sebi circular in April this year, wherein the market regulator had allowed FIIs to invest in corporate debt without purchasing debt limits till overall investment reaches 90%.
Sebi rejigs advisory panels on clearing corp, risk mgmt
Sebi has reconstituted two of its key advisory committees, which are mandated to give suggestions on regulation for clearing corporations and risk management review system. The six-member panel on clearing corporations is headed by ICICI Bank chairman K V Kamath, while 10-member committee on risk management review is chaired by IIM Ahmedabad professor J R Varma. The two committees have been revamped after departure of Sebi executive director S Raman, who was also a member of both the panels. Sebi executive director S V Murali Dhar Rao is now a member on two committees.
NSE, BSE seek registration with European regulator
NSE and BSE have applied for registration with European securities market authority (ESMA), capital market regulator for the EU region. ESMA, an independent EU authority, which contributes towards safeguarding the stability of the European Union?s financial system by ensuring the integrity, transparency, efficiency and orderly functioning of securities markets, as well as enhancing investor protection. Both NSE and BSE have sought ESMA registration, sources said without specifying further details. Sebi recently finalised information sharing and regulatory cooperation MoUs with 31 EU regulators at the initiative of the ESMA, as part of the European Union?s Alternative Investment Fund Managers Directive (AIFMD).
India Infoline to demerge broking biz to meet norms
India Infoline (IIL) is in the process of demerging its broking business to meet banking regulations and has already received the Sebi nod. ?To meet the banking regulation, India Infoline is demerging the broking business and which would be transferred to its subsidiary India Infoline Distribution Co,? said India Infoline Finance (IIFL) ED Mukesh Singh.
