Archive for year: 2023
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Open in new tab Workshop on Regulatory Framework for New-age NBFCs
| Register Here : https://forms.gle/C2DQCp5BrAGu9Nry5 |
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Regulation 30: Disclosure of Regulatory and similar Actions
– Palak Jaiswani | corplaw@vinodkothari.com
Apparently with a view to make disclosure more stringent and widen the scope of disclosures, SEBI introduced two new clauses pertaining to regulatory actions, as clause 19 and 20, in Schedule III.A.A, as a part of SEBI (Listing Regulations and Disclosure Requirements) (Second Amendment) Regulations, 2023, with effect from July 14, 2023.
Newly inserted clauses 19 and 20 in Para A Part A of Schedule III cover the regulatory and similar actions which are required to be disclosed irrespective of the materiality thresholds prescribed.
There is a huge confusion as to what sort of regulatory actions are to be covered in item 19 and 20. Trivial fines and penalties have begun coming up on stock exchange reporting. Hence, it is very important to ascertain the type of regulatory actions that fall within the ambit of either of these two clauses. This article intends to understand the scope and coverage of the aforesaid clauses.
Read more →KYC/AML risk categorisation of customers
Key Points as per the RBI’s Directions on Risk Management under the KYC and PML Regime
-Anita Baid | Vice President | anita@vinodkothari.com
In line with the Reserve Bank of India’s (RBI) directions on risk management under the Know Your Customer (KYC) norms and Anti-Money Laundering (AML) standards, Non-Banking Financial Companies (NBFCs) are required to categorize their customers into low, medium, and high-risk categories. This risk categorization plays a crucial role in determining the level of due diligence to be undertaken by the NBFC while establishing and maintaining relationships with customers. Here are some key points to consider regarding the risk categorization process for legal entities (corporate borrowers, LLPs, trust, etc.) as well for individual borrowers:
Read more →NBFC- Enterprise Risk Assessment
-Subhojit Shome, Assistant Manager | finserv@vinodkothari.com
| Our Youtube video on the topic can be accessed here – https://www.youtube.com/watch?v=7EFeIdb-Wkc |
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Online workshop on LODR Reg 30 changes: Clause by clause guide to implementation
| On request of several of our participants, we are postponing the workshop to the 28th of July, 2023, Friday, 4pm-7pm. Register now at : https://forms.gle/emHhuy6rNdhfCtbo7 |
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Risk-based Internal Audit for NBFCs – Applicability & Implementation
– Subhojit Shome, Assistant Manager | subhojit@vinodkothari.com
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Read our other resources on RBIA here:
Silence no more golden: New regulatory regime forces top listed companies to respond to rumours
Vinod Kothari and Nitu Poddar (corplaw@vinodkothari.com)
– Updated February 02, 2024
Come June 1, 2024, top 100 listed companies, and thereafter, effective from December 1, 2024 top 250 listed companies, will have to mandatorily respond to market rumours, and cannot keep a policy of maintaining their own silence. What is the intent and scope of this requirement? Does this requirement expect companies to scan through more than 100000 mainstream media publications, and news channels and innumerable investor influencers, keep searching for the written or spoken word about the company, and then keep responding to all the din about the company? Or, the intent is just to ensure that a false market in the company’s securities is not being created or propped up by the company’s silence? And if the company is to respond to rumours, how and where does it respond?
These are some very pertinent questions bothering the larger of the listed entities. We are trying to address some of these questions below.
Read more →Introducing common offer document disclosures for Private Placement and Public Issue
SEBI (Issue and Listing of NCS) (Second Amendment) Regulations, 2023
– Palak Jaiswani | corplaw@vinodkothari.com
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Carbon credit markets: building the ecosystem for trading in India
– Payal Agarwal, Manager (payal@vinodkothari.com)
The consequences of climate change and the need for a positive climate action need no introduction in the present world. What once remained a matter of concern for the so-called “environmental activists”, gradually traveled their way to the government as countries committed towards achieving “net zero”. Climate action requires involvement of the masses, and therefore, the government is coming up with new regulatory devices towards developing climate action on a large scale.
India is no exception to the same, and following the footsteps of other countries, has proposed to develop a compliance mechanism and domestic market for carbon credits in India. Regulatory inclusion is provided to carbon credits in India by way of an amendment to the Energy Conservation Act, 2001 (“ECA”). Carbon credits are a form of emission trading schemes (ETS), that incentivize the reduction in emissions, against the offsetting of higher emissions by other market participants. A brief comparison of the domestic ETS in other parts of the world, and the existing emissions trading markets in India can be referred to at Emission law amendments: Laying the framework for Carbon trading market in India.
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