Introduction

Edition 11th 23-24

Week – June 26th to July 01st

Quote for the week:

“If you look at the world with an open mind, anything can happen”

- Min Yoongi.

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”) and orders from SEBI.

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

1. SEBI issued Press Release dated June 27, 2023 for online remittance of fees Payable to SEBI by the market participants.
2. SEBI vide Circulars dated June 26, 2023 issued the format of the Compliance Report on Governance of InvITs and REITs.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of June 26th to July 01st, 2023.

Thank you,

Swift team

Table of Contents

 REGULATORY UPDATES

SEBI

1. SEBI issued Press Release dated June 27, 2023 for online remittance of fees Payable to SEBI by the market participants
2. SEBI vide Circulars dated June 26, 2023 issued the format of the Compliance Report on Governance of InvITs and REITs
3. SEBI vide Circular dated June 27, 2023 issued circular on Disclosure of Information on Issuers Not Cooperating (INC) with CRAs
4. SEBI vide circular dated June 26, issued circular on Format for Annual Secretarial Compliance Report for Real Estate Investment Trusts (“REITs”)
5. SEBI vide circular dated June 26, 2023 issued circular on Format for Annual Secretarial Compliance Report for Infrastructure Investment Trusts (“InvITs”)
6. SEBI issued Circular dated June 27, 2023 facilitating methods to achieve Minimum Public Unit holding for Infrastructure Investment Trusts (“InvITs”) & Real Estate Investment Trusts (“REITs”)
7. SEBI vide Press release dated June 28, 2023 issued the result of the board meeting held by SEBI on various matters of the securities markets and other related aspects
8. SEBI issued Press release dated June 27, 2023 for amendment in the Securities and Exchange Board of India (Informal Guidance) Scheme 2003 (‘Scheme’) which was issued on June 24, 2003
9. SEBI vide Circular dated June 26, 2023 issued additional compliances to be observed by the Investor Service Centers of Stock Exchange
10. SEBI vide Circular dated June 30, 2023 issued Implementation on upstreaming of client’s funds by Stockbrokers (SBs) / Clearing Members (CMs) to Clearing Corporations (CCs)

JUDGEMENTS/ ORDERS

SEBI ORDER

1. Adjudication order in the matter of Cyquator Media Services Pvt Ltd