Mumbai: Securities and Exchange Board of India (Sebi) chairman U.K. Sinha said on Friday the capital markets regulator expected to have a new policy for initial public offerings for start-up companies in three to four months.

Reuters had reported this week Sebi was planning rule changes that will make it easier for home-grown start-ups to list their shares on local bourses, citing sources involved in the process.

To tap capital markets to raise funds, a number of e-commerce companies including start-ups are lobbying hard with Sebi to seek relaxation in IPO norms, but regulator is firm on measures to safeguard investors.

Sebi is of the view that the investor interest is paramount in its regulatory regime and the norms, including for detailed disclosures and strong financial positions, are necessary to ensure safety of investors' money.

Market regulator Sebi has slapped a total fine of around Rs 40 lakh on six companies for allegedly failing to obtain registration with its online complaint system as well as not resolving pending investor grievances.

Besides, Securities and Exchange Board of India (Sebi) disposed of cases against seven firms in investor complaint cases.

MUMBAI: In a major relief for DLF, the Securities Appellate Tribunal on Friday quashed a Sebi order against the realty giant that had barred the company and its six top executives from capital markets for three years.

Soon after the tribunal pronounced its order, the shares of DLF soared higher by about 8 per cent. The stock was trading 7.75 per cent up at Rs 160.5 at the BSE in early afternoon trade.

The government has proposed to amend the Reserve Bank of India (RBI) Act to take away money market regulatory powers from the central bank and bring it under the purview of the Securities and Exchange Board of India (Sebi).

Though the proposal wasn’t mentioned in Finance Minister Arun Jaitley’s Budget speech, the Finance Bill proposes to amend sections 45U and 45W of the RBI Act, which effectively takes away the central bank’s powers to regulate government securities and other money market instruments.

The capital markets regulator, Securities and Exchange Board of India (Sebi), has simplified the rules for opening of trading and demat accounts by resident individual investors, to boost retail participation in the securities market.

It has introduced the concept of a ‘Saral (Simple) Account’, with much more relaxed Know Your Customer requirements as compared to a normal demat account. Such accounts are primarily aimed at investors who only participate in the cash market, without availing other facilities like internet, mobile banking or margin and derivative trading.

Merger of the Forward Markets Commission (FMC) with the Securities and Exchange Board of India (Sebi) allows a commodity exchange to expand in segments permitted under a stock exchange and vice versa.

From the proposed Bill in this regard, “all recognised associations under the Forward Contracts Regulation Act shall be deemed to be recognised stock exchanges under the Securities Contracts Regulation Act”.

Finance Minister Arun Jaitley has announced that the Forward Markets Commission will be merged with the Securities and Exchange Board of India (Sebi). While Sebi is the regulator for the capital markets, the FMC oversees commodities markets.

Among other things, he said that this will help reduce wild speculation.

The Securities and Exchange Board of India (Sebi) has imposed a total penalty of Rs 86 crore on real estate major DLF and 40 related entities, including subsidiaries and key officials. The matter relates to disclosures made at the time of its Initial Public Offer (IPO) in 2007.

The regulator imposed penalties through two separate orders. One is for a sum of Rs 52 crore on DLF and seven officials. The second order is for Rs 34 crore on Sudipti Estates Ltd and 34 other related entities.

Back in 2009, U K Sinha, the then UTI chief (currently Sebi chairman) told Business Standard that the regulator needs to be open to criticism. The comment had come in the backdrop of Sinha's predecessor C B Bhave's decision of banning entry load on equity schemes.

The move had attracted widespread criticism from all stakeholders - including AMCs and distributors. And that phase lasted for not less than four long years. Even today, it is not surprising to see people wishing for a return of entry load, though in hushed tones.

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