Saturday, 26 April 2014

SEBI March 2014

circular/notificationno. Date Subject Amendment
CIR/MIRSD/1/2014 12-Mar-14 Anti-Money Laundering/ Countering the Financing of Terrorism (AML/CFT) Obligations of Securities Market Intermediaries under the Prevention of Money- laundering Act, 2002 and Rules framed there under SEBI has amended the SEBI Master Circular CIR/ISD/AML/3/2010 dated December 31,2010 on the subject matter in view of recent  amendments to the Prevention of Money-laundering Act, 2002 and amendments to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. The amendments are brought in to impose additional obligations on the intermediaries to ensure prevention of money laundering including conducting  risk analysis of investments, relying on third party for client due diligences and maintaining and reporting of records relating to the same. 
CIR/IMD/DF/05/2014 24-Mar-14 Enhancing disclosures, investor education & awareness campaign,
developing alternative distribution channels for Mutual Fund products, etc. 
SEBI has framed a Long Term Policy for Mutual Funds in India which provides for enhancement of reach of Mutual Fund products, promoting financial inclusion, tax treatment , obligation of various stakeholders, increasing transparency by way of prescribed disclosures to be made, etc. 
CIR/CFD/DIL/1/2014 25-Mar-14 Format for Auditors’ Certificate required under
Clause 24(i) of the Equity Listing
Agreement
SEBI has prescribed a standard format for Auditors’ Certificate required under Clause 24(i) of the Equity Listing Agreement required to be submitted by companies along with scheme of merger/amalgamation/compromise under sections 391-394 of the Companies Act 1956. 
No. 2 of 2014 28-Mar-14 Securities Law Amendment Ordinance 2014 This ordinance is issued to provide continued effect to Securites Law (Amendment) Ordinance 2013 and Securities Law (Amendment) Second  Ordinance 2013 dated 16 September 2013 which brought about certain amendments in the Securities Exchange Board of India Act, 1992, Securities Contract (Regulation) Act, 1956 and the Depositories Act, 1996 as the 2013 Ordinances ceased to operate since 16 January 2014. As per the Ordinance of 2014, certain provisions of the Ordinance 2013 are deemed to have come in to force since 18 July 2013 and the remaining shall come in to force forthwith. 
CIR/IMD/FIIC/6/2014 28-Mar-14 Commencement of Foreign Portfolio Investor ("FPI") regime As per the said circular, the FPI regime shall commence with effect from June 1, 2014. SEBI shall continue to accept all applications for registration of FIIs and Sub Accounts till May 31, 2014. Further, SEBI shall continue to accept all applications for
acknowledgment of fee till May 31, 2014, in respect of those FIIs and Sub Accounts whose fee validity isexpiring on or before September 30, 2014. It is further provided that SEBI shall continue to accept all applications for miscellaneous requests till
May 31, 2014 and with effect from June 01, 2014, the DDPs shall accept all applications for registration, acknowledgment of fees, and miscellaneous requests. Those Qualified Depository Participants (QDPs) who are deemed as DDPs under Regulation 11(1) of the Regulations may continue to open QFI accounts till May 31, 2014

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