Introduction

Edition 14th 23-24

Week – July 31 to August 05th

Quote for the week:

"Strive not to be a success, but rather to be of value."

               –  Albert Einstein (Theoretical physicist)

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 Ministry of Corporate Affairs (“MCA”)

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

1. SEBI vide circular dated August 01, 2023 issued circular on Trading Preference by Clients – Applicability for commodity derivatives.
2. Ministry of Corporate Affairs (“MCA”) vide notification dated August 02, 2023 introduced the Companies (Incorporation) Second Amendment Rules, 2023.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of July 31st to August 05th 2023.

Thank you,

Swift team

REGULATORY UPDATES

SEBI

1. SEBI vide circular dated August 01, 2023 issued circular on Trading Preferences by Clients – Applicability for commodity derivatives
2. SEBI vide circular dated August 02, 2023 issued circular on Audit of firm-level performance data of Portfolio Managers
3. SEBI vide circular dated August 03, 2023 issued a circular on Offer for Sale framework for sale of units of Real Estate Investment Trusts (“REITs”) and Infrastructure Trusts (InvITs)
4. SEBI vide circular dated August 04, 2023 issued circular validating period of approval granted by SEBI to Alternative Investment Funds (“AIF”) and Venture Capital Funds (“VCF”) for overseas investment
5. SEBI vide circular dated July 31, 2023 issued circular on Online Resolution of Disputes in the Indian Securities Market
6. SEBI vide Circular dated August 04, 2023 issued as Corrigendum cum Amendment to Circular dated July 31, 2023 on Online Resolution of Disputes in the Indian Securities Market

MCA

1. Ministry of Corporate Affairs (“MCA”) vide notification dated August 02, 2023 introduced the Companies (Incorporation) Second Amendment Rules, 2023