Introduction

Edition 06th 23-24

Week – May 15th to May 19th

Quote for the week:

“There is no shortage of remarkable ideas, what’s missing is the will to execute them.”

- Seth Godin

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 and exchange Board of India (“SEBI”), Ministry of Corporate Affairs (“MCA”) and International Financial Services Center Authority (“IFSCA”) and orders from SEBI and Supreme Court.

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

1. SEBI Vide Master Circular dated May 17, 2023, issued Master Circular on Stock Brokers
2. SEBI vide circular dated May 19, 2023 issued the Risk disclosure with respect to trading by individual traders in Equity Futures and Options Segment (F&O Segment).

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of May 15th to May 19th, 2023.

Thank you,

Swift team

REGULATORY UPDATES

SEBI

1. SEBI Vide Master Circular dated May 17, 2023, issued Master Circular on Stock Brokers
2. SEBI vide circular dated May 19, 2023 issued the Risk disclosure with respect to trading by individual traders in Equity Futures and Options Segment (F&O Segment)
3. SEBI vide Notification dated May 15, 2023 amends the Securities and Exchange Board of India (Employees’ Service) Regulations, 2001
4. SEBI issued Master Circular for Registrars to an Issue and Share Transfer Agents
5. SEBI issued Master Circular on Mutual Funds

MCA

1. MCA vide Circular dated May 15, 2023, introduced the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2023

IFSCA

1. IFSCA vide Circular dated May 17, 2023 issued the Fee structure for the entities undertaking or intending to undertake permissible activities in IFSC

JUDGEMENTS/ ORDERS

SEBI ORDER

1. Adjudicating Officer slaps penallty on Individual for trading in illiquid Stock Options on BSE

SUPREME COURT

1. Supreme Court sets aside that part of the judgment and order passed by the High Court by which the decision of BEST to accept the tender of EVEY which was set aside