22/05/2024
Summary of the Regulatory updates dated 21/05/2024
These circulars are integrated in our free-to-use website ca2013.com.
Issuance of Master circular for Issuers of listed Non-convertible Securities, Securitized Debt Instruments and/or Commercial Paper.
SEBI has issued a Master circular to enable the Issuers of listed Non-convertible Securities, Securitized Debt Instruments and/or Commercial Papers, along with their stakeholders to have access to all the applicable circulars at one place. This Master circular is a compilation of all the circulars issued till May 20, 2024.
The directions or other guidance issued by SEBI which are specifically applicable to such issuers shall continue to remain in force in addition to the provisions of any other law. The terms not defined in this Master Circular shall have the same meaning as provided under the relevant Regulations.
This master circular also lists out certain circulars in its Annexure 1 to which it supersedes.
Click here to view the SEBI Master Circular.
Industry Standards on verification of market rumours
The ISF, comprising of three industry associations, viz. ASSOCHAM, CII and FICCI, under the aegis of the Stock Exchanges, on a pilot basis, has formulated industry standards for effective implementation of verification of market rumours as required under Regulation 30(11) of SEBI (LODR) Regulations, 2015. The requirement to verify market rumours shall be applicable to top 100 listed entities w.e.f. June 01, 2024 and top 250 (i.e. next 150) listed entities from December 01, 2024.
Click here to view the SEBI Circular.
Framework for considering unaffected price for transactions upon confirmation of market rumour
Top 100 listed entities (w.e.f. June 01, 2024) and the top 250 listed entities (i.e., next top 150) (w.e.f. December 01 ,2024) are required to confirm, deny or clarify market rumours caused due to material price movement as specified by the Stock Exchanges within twenty-four hours from trigger of material price movement. In event of the rumour being confirmed, the effect on the price of the equity share of the listed entity due to material price movement and its confirmation shall be excluded for calculation of price for that transaction. SEBI through this circular, has laid down in its Annexure, the framework along with the illustrations for considering the unaffected price.
Click here to view the SEBI Circular.
Further, the following circulars have also been integrated:
- NSE Circular on Framework for considering unaffected price for transactions upon confirmation of market rumour dated 21.05.2024
- BSE Circular on Framework for considering unaffected price for transactions upon confirmation of market rumor dated 21.05.2024
- NSE Circular on Industry Standards on verification of market rumours dated 21.05.2024
- BSE Circular on Industry Standards on verification of market rumors dated 21.05.2024
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