Introduction

Edition 49th 22-23

Week – April 3rd to April 7th

Quote for the week:

“Focus on where you want to go, not on what you fear.”

- Anthony 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 Securities Exchange Board of India (“SEBI”)/ Ministry of Corporate Affairs (“MCA”) and International Financial Services Centres Authority (“IFSCA”).

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

1. MCA vide Notification amended the Companies (Indian Accounting Standards) Rules, 2015.
2. SEBI issued Operational Circular for Debenture Trustees.
3. IFSCA vide Circular dated April 06, 2023 passed an Addendum to the Circular titled “Framework for enabling Ancillary services at International Financial Services Centres”.

We have prepared a comprehensive summary for quick reference of the aforesaid and other updates issued during the week of April 3rd to April 7th.

Thank you,

Swift team

Table of Contents

REGULATORY UPDATES

MCA

1. MCA vide Notification amended the Companies (Indian Accounting Standards) Rules, 2015

SEBI

1. SEBI  issued Operational circular for Debenture Trustees
2. SEBI vide Circular dated April 05, 2023 issued Advertisement code for Investment Advisers (IA) and Research Analysts (RA)
3. SEBI vide Circular dated April 06, 2023 gave guidelines for usage of brand name/trade name by Investment Advisers (IA) and Research Analysts (RA)

IFSCA

1. IFSCA vide Circular date March 31, 2023 issued Sensitising Authorised Dealer (AD) branches of Indian banks about facilities in IFSC
2. IFSCA vide Circular dated April 06, 2023 passed an Addendum to the Circular titled “Framework for enabling Ancillary services at International Financial Services Centres”