LODR norms of equity extended to debt listed entities; Disclosure of DT Agreement
– Palak Jaiswani, Manager | Corplaw@vinodkothari.com
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Disclosure requirements w.r.t. debt securities | Amendments in LODR & NCS Regulations
Making life easy for listed entities: SEBI proposes action on Expert Committee recommendations
A policy on policies: Guide to writing corporate policies
finserv@vinodkothari.com | corplaw@vinodkothari.com
Why Policies:
- Policies have become a regulatory necessity in many cases. The Companies Act and Listing regulations require several policies: for example, nomination and remuneration policy, CSR policy, whistle blower policy, policy for determination of material subsidiary etc.
- The RBI’s regulations require policies every now and then – an indicative list of policies needed by NBFCs (for base layer and middle layer) is here
- RBI regulations for banks require an even larger list of policies. An indicative list of policies for banks can be accessed here.
- To conclude: policies are needed for companies in many respects/fields.
What’s the policy behind policies:
Read more →SEBI approves uniform approach for market rumour verification, eases on-going compliance requirement for listed companies, eases norms for IPO/ fund raising, AIFs, relaxes requirement for FPI & extends timeline for HVDLE on March 15, 2024
AGENDA – Felicitation meet-cum-Panel Discussion on Corporate Governance
Checklist for change in share transfer agent
Anushka Vohra, Senior Manager & Ankit Singh Mehar, Executive | corplaw@vinodkothari.com
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Recent regulatory developments for listed entities – critical changes under LODR and PIT Regulations
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Cyber security incidents to be reported quarterly to stock exchanges
Circular differs from the discussion in SEBI Board meeting
– Aisha Begum Ansari | corplaw@vinodkothari.com
Brief background
With business operations going digital, the threat of cyber attacks have increased considerably. Effective from April 2019, the Risk Management Committee of a listed entity was mandated by SEBI to discharge the function for laying down a framework for identifying the cyber security risks. In case of financial sector entities, the requirements laid down by the sectoral regulators are stricter and elaborate[1].
Additionally, the companies are required to report the cyber security incidents to an agency called Indian Computer Emergency Response Team (‘CERT-In’) which is established in terms of section 70B of the Information Technology Act, 2000 and comes under the Ministry of Electronics and Information Technology (‘MEITY’).
Present Circular
Since, the cyber security incidents are material in nature and may be relevant for the investors, SEBI vide its notification dated June 14, 2023 inserted reg. 27(2)(ba) in the Listing Regulations mandating the listed entities to disclose the details of cyber security incidents or breaches or loss of data or documents in its quarterly Corporate Governance (CG) report filed in terms of Reg. 27 (2) effective from July 13, 2023. Pursuant to the same, the stock exchanges, on September 29, 2023, released a format for disclosure of cyber security incidents in the quarterly CG report commencing from quarter ended September 30, 2023 , which covers the following:
- Confirmation on any instance of cyber security incident or breach or loss of data or documents during the quarter;
- Date of the event;
- Brief details of the event.
This article analyzes the above requirement in light of the proposal made in the consultation paper, discussion in SEBI Board meeting agenda and the gaps arising therefrom .
Read more →Workshop on Recent regulatory developments for listed entities: critical changes under LODR and PIT Regulations
| Register here: https://forms.gle/dmzuWFjxp8sL3VR4A |
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