Latest news with #SecuritiesExchangeBoardofIndia
CNBC
a day ago
- Business
- CNBC
Indian regulator bars U.S. trading firm Jane Street from accessing securities market
The Securities Exchange Board of India (SEBI) has barred Jane Street Group from accessing India's securities market, according to an order posted on the regulator's website on Friday. The order stated that the American trading firm's "entities are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly." It further stated that banks have been directed to ensure that "no debits are made, without permission of SEBI," for accounts held by Jane Street's entities either jointly or individually. CNBC has reached out to SEBI and Jane Street for comment.
Hindustan Times
27-06-2025
- Business
- Hindustan Times
IT officer duped of ₹91.67 lakh by cyber frauds
MUMBAI: A 46-year-old official from the Income Tax department was duped of ₹ 91.67 lakh in an investment fraud by some unidentified cyber frauds. On Monday, a case was registered against the unidentified individuals for cheating and forgery. The Cyber police are investigating the case. IT officer duped of ₹ 91.67 lakh by cyber frauds According to the police, the victim came across videos of Rachana Ranade, a chartered accountant and an investment expert, on social media and expressed her interest in investing through the link mentioned in the post. She had also shared her contact details, after which she was added to a WhatsApp group where investment tips were shared, a police officer from the cyber cell said. She told the police that many people on the WhatsApp group were making immense profits, which encouraged her to invest similarly. She reached out to the group admin to get more details on how she could invest in order to make profits, as seen on the WhatsApp group. 'They sent her a link through which she could install a mobile application. The app's name was similar to a multinational bank's name. She initially invested a small amount and made a 15% profit immediately. They also sent her forged acknowledgement letters from the multinational bank and Securities Exchange Board of India (SEBI) to gain her confidence,' said the police officer. 'The initial profit was credited to her bank account by the frauds to gain her confidence.' From May 15 to June 3, she invested an amount of ₹ 57.67 lakh by transferring the amount to various accounts as directed by the frauds, and the app reflected ₹ 4 crore profit. On June 3, when she tried to withdraw the amount, she was asked to pay an amount of ₹ 34 lakh as a service charge to withdraw her profits. 'She paid the amount and then tried to withdraw the money. She was again asked to pay a security deposit of ₹ 40 lakh. She then realised she had been cheated. She was duped of ₹ 91.67 lakhs in total, ' said the police officer. The police have registered a case against the unidentified individuals under sections 318 (cheating), 319 (cheating by personation), 336 (forgery), 338 (forgery of valuable securities, wills, and other documents) and 340 (fraudulent or dishonest use of a forged document or electronic record) of the Bharatiya Nyaya Sanhita and relevant sections of the Information Technology Act.
Mint
18-06-2025
- Business
- Mint
What does the latest Sebi's master circular say about investors' grievance against stock brokers?
Capital markets regulator Securities Exchange Board of India (Sebi) has released a master circular dated June 17 for stockbrokers. This is the first such circular after the last one on August 9, 2024. This circular deals with an array of concerns relating to stockbrokers including their registration, supervision, investor grievance, tax compliance, change in status and others. Can investors file complaints against their brokers? If investors are facing any trouble with their stockbroker, they can surely file a complaint. And the newly released master circular says that stockbrokers are supposed to provide an exclusive email id for redressal of investor complaints. All the registered stockbrokers are supposed to designate an e-mail ID of the grievance redressal division/compliance officer exclusively for the purpose of registering complaints by investors, says the Sebi circular. Stockbrokers are also meant to show the email ID and other relevant details – that too prominently on their portals and in the various materials/pamphlets/advertisement campaigns initiated by them for creating investor awareness, the circular says further. Complaints against stockbrokers can be filed via an existing complaints redress system known as SCORES. One of the key features of this system is that all the complaints have centralised database and they can be moved online to the concerned listed companies. The investor grievances received by SEBI against stockbrokers are taken up electronically with the concerned Stock Exchange(s) through SCORES. The stock exchange(s) in turn, take up the matter with the concerned stockbrokers. Stock Exchanges will ensure that the investor complaints will be resolved within fifteen working days from the date of receipt of the complaint. Additional information, if any, required from the complainant, shall be sought within seven working days from the date of receipt of the complaint. With regards to SCORES, Sebi had released a circular on November 7, 2022, which can be accessed here. Visit here for all personal finance updates
New Indian Express
28-04-2025
- Business
- New Indian Express
Caveat Emptor – Financial Educator or Predator ?
In most of my B-School classes, my students would be asked to maintain a simulated real-time portfolio. One of the key lessons they self-learnt in the process by the end of the year is that wealth creation is a process and not akin to striking the lottery jackpot overnight, the possibility of which too is one in a million to put it figuratively. I have read several news stories in the pink papers of market operators in the guise of market educationists duping their 'student subscribers' via a chat room where they are ostensibly educated on the technique of getting 1000%returns. I honestly do not feel too sympathetic about these gullible subscribers. If they were greedy and naïve enough at the same time to believe that such returns are possible or that there is some technique to do it repeatedly, good old Warren Buffet, the revered Oracle of Omaha might have been unheard of. Friends, professional acquaintances and even patrons at times forward opinions of self-appointed market experts on mobile phone groups and at times even 'research' reports from 'reputed' brokerage houses suggesting the possibility of raking in abnormal returns. This, to my mind, is the most basic of mistakes investors make, led on by those preying on their naivety and greed. A directive in the past by the regulator was to ask certain entities registered with it to affix its logo, address and even a line on investments being subject to market risk in all its market communications. Well, I may have been cynical but I felt even then that unless the intent was something else altogether the majority of the predators mentioned above would be unregistered fly-by-night operators who shed old and assume new identities rapidly. Hence, further regulating the already regulated and also largely compliant, while these operators continue to remain unregulated and unfettered simply because they prey on the greed of investors, is akin to missing the woods for the trees. Without getting into the relative impossibility of monitoring the proliferation of blatantly loaded messages by such fly-by-night operators, it would suffice to say that this is a menace that shows no sign of abating. While the Securities Exchange Board of India (SEBI) maintains surveillance to flush out and punish such 'educators', it remains a cumbersome task. As is inevitable on the world wide web, such predators invariably seem a step ahead. On our part, we repeatedly remind anyone who bothers to ask, that if only the art of investing was so easy that one could act on such pearls of wisdom (of which there is no dearth, courtesy of the hyperactive social media) and profit, then everyone ought to be doubling their wealth monthly. Alas, that must remain a pipe dream. Hence, all we can do is once again remind investors of the Latin phrase, Caveat Emptor- Let the Buyer Beware. (Ashok Kumar heads LKW India. The views expressed here are his own)
Mint
24-04-2025
- Business
- Mint
Sebi's rule regarding NAV of overnight funds to come into effect on June 1
To protect investors' funds, capital markets regulator SEBI (Securities Exchange Board of India) has released a circular dated Dec 12, 2023 to ensure upstreaming of clients' funds. The circular has specified the framework requiring stock brokers or clearing members to place all the clients' clear credit balances to clearing corporations on end of day basis. To make the upstreaming of clients' funds in the form of pledge of units of mutual fund overnight schemes, a working group of industry participants recommended a change in the cut-off timings to calculate the applicable net asset value with respect to repurchase of units in overnight fund schemes. These are the changes which will come into effect from June 1, 2025 with regards to overnight schemes. Overall, there are 34 overnight mutual fund schemes with total asset value of ₹ 62,458 crore. These refer to the income/debt oriented schemes which have a maturity of only one day. Asset management companies will observe these cut-off timings with respect to repurchase of units in liquid funds and overnight fund schemes: A. When the application is received up to 3 pm, the closing NAV of day immediately preceding the next business day. B. Where the application is received after 3 pm -- the closing NAV of the next business day. C. When application is received through online mode, the cut-off timing of 7 pm will be applicable for overnight fund schemes. D. Business day does not include a day on which the money markets are closed or otherwise not accessible. E. Signed by Lakshaya Chawla, Deputy General Manager, Investment Management Department, Sebi's circular was released on April 22 and will come into effect on June 1, 2025. The Sebi's circular also highlights that the purpose of this circular is meant to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. In another news, Sebi has proposed enhancing investment limits for mutual funds in real estate investment trusts (REITs) and infrastructure trusts (InvITs) -- in a move that will boost the real estate and infrastructure sectors Visit here for all personal finance updates. First Published: 24 Apr 2025, 06:52 PM IST
