Introduction

Edition 4th 22-23

Week – April 25th to April 29th

Quote for the week:

“Risk is the Secret to Success”

– Tony Robbins           

We welcome you to our weekly newsletter!

The ‘Swift e-Bulletin’ - weekly newsletter, covers all regulatory updates and critical judgements passed during the week. We hope that you liked our previous editions and found it to be of great value in its content. We want this newsletter to be valuable for you so, please share your feedback and suggestions to help us improve.

Further, various regulatory authorities have been proactive in bringing significant regulatory changes in recent challenging times. This week’s newsletter covers various Circulars/notifications issued by certain regulatory authorities such as the Ministry of Corporate Affairs (“MCA”), Reserve Bank of India (“RBI”), Securities and Exchange Board of India (“SEBI”), International Financial Services Centres Authority (“IFSCA”) and orders passed by the SEBI.

The Regulatory authorities provided various updates/relaxations, some of which being:

1. RBI notifies Guidelines on Compensation of Key Managerial Personnel (KMP) and Senior Management in NBFCs.
2. IFSCA Vide Circular dated April 26, 2022 issued Guidance framework on Sustainable and Sustainability linked lending by financial institutions.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of April 25, 2022 to April 29, 2022.

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

 MCA 

1. MCA issues Companies (Registration of Charges) Rules 2014 pertaining the creation or modification of charges by banking Company

RBI

1. RBI notifies Guidelines on Compensation of Key Managerial Personnel (KMP) and Senior Management in NBFCs

IFSCA

1. IFSCA vide notification dated April 25, 2022 notifies IFSCA (Fin Tech Incentive) Scheme 2022
2. IFSCA vide notification dated April 25, 2022 issued IFSCA (Fund Management) Regulations 2022
3. IFSCA Vide Circular dated April 26, 2022 issued Guidance framework on Sustainable and Sustainability linked lending by financial institutions
4. IFSC issues a circular on enabling market access to investors through Authorized persons registered with IFSCA
5. IFSC issues circular stating the framework for FinTech Entity in the International Financial Services Centres (IFSCs)

SEBI

1. SEBI issues the guidelines for the regulation of Infrastructure Investment Trusts (INVITs) and Real Estate Investment Trusts (REITs)

JUDGEMENTS AND ORDERS

SEBI Order

1. In the matter of Investigations in Coromandal Fertilizers Ltd. The penalty of INR. 5,00,000/- imposed on Noticee was disposed of