Corporate Professionals’ Post

#MMJC hosted a webinar on #SEBI's latest amendments to LODR Regulation 30, focusing on the newly notified rumor verification requirements and market cap-based provisions. #MMJC #MMJCcares #SEBI #Marketrumors #regulatoryupdate

𝟏𝟓𝟗𝐭𝐡 𝐖𝐞𝐛𝐢𝐧𝐚𝐫 𝐨𝐧 “𝐈𝐧𝐭𝐞𝐫𝐢𝐦 𝐑𝐞𝐜𝐨𝐦𝐦𝐞𝐧𝐝𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐄𝐱𝐩𝐞𝐫𝐭 𝐂𝐨𝐦𝐦𝐢𝐭𝐭𝐞𝐞 𝐨𝐧 𝐀𝐦𝐞𝐧𝐝𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐈𝐂𝐃𝐑 𝐚𝐧𝐝 𝐋𝐎𝐃𝐑 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬” 𝐅𝐫𝐢𝐝𝐚𝐲 | 𝟏𝟗𝐭𝐡 𝐉𝐚𝐧𝐮𝐚𝐫𝐲, 𝟐𝟎𝟐𝟑 | 𝟒.𝟎𝟎 𝐏𝐌 𝐭𝐨 𝟔:𝟎𝟎 𝐏𝐌 SEBI has released a consultation paper on interim recommendations of the Expert Committee for facilitating ease of doing business and harmonization of the provisions of the ICDR and LODR Regulations. The Expert Committee has recommended changes in LODR Regulations on Applicability of the regulations on the basis of market capitalization; Limit of membership and chairmanship of committees for a director; Filling up of vacancies of KMP; Timeline for prior intimation of board meetings and Gap between meetings of the Risk Management Committee. Further, the Expert Committee has recommended changes in ICDR Regulations on Inclusion of equity shares received on conversion or exchange of fully paid-up Compulsory Convertible Securities and depository receipts for the purpose of Minimum Promoters’ Contribution; Non-individual shareholders to be permitted to contribute towards Minimum Promoters’ Contribution without being identified as a promoter; Thresholds for increase or decrease in issue size triggering re-filing of draft offer documents and Flexibility to extend the bid/offer closing date on account of force majeure events minimum by 1 day instead of present requirement to extend by minimum 3 days. The deadline for submitting comments/suggestions to SEBI is February 01, 2024. The objective of the webinar is to discuss the recommendations put forth by the SEBI-appointed Expert Committee and gain insights into the potential implications and impact of the proposed changes. The various perspectives and suggestions of the participants emanating at the webinar will be collated and sent to SEBI for its consideration. 𝐑𝐮𝐬𝐡 𝐲𝐨𝐮𝐫 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧𝐬/ 𝐜𝐨𝐦𝐦𝐞𝐧𝐭𝐬 𝐚𝐭: shivam.singhal@indiacp.com 𝐏𝐥𝐞𝐚𝐬𝐞 𝐜𝐥𝐢𝐜𝐤 𝐭𝐨 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐟𝐨𝐫 𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐢𝐨𝐧: https://lnkd.in/gHnxFDxY #RegulatoryUpdates #CorporateGovernance #FinancialRegulations #BoardMeetings #RiskManagement #CorporateCompliance #CapitalMarketUpdates

SEBI has recently updated the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These changes aim to enhance the accuracy of market value calculations, improve the verification of rumors, ensure quicker responses from executives, allow more time to fill key positions, and simplify compliance. The goal is to make markets fairer, increase investor confidence, and strengthen corporate governance. Key highlights of the said amendments are outlined herein below:

📢 Amendments in SEBI Listing Regulations and ICDR Regulations are as follows, approved in SEBI’s 204th Board meeting: ➡ SEBI ICDR Regulation Amendments: - Elimination of security deposit requirement for IPOs. - Permitting promoter group entities and non-individual shareholders holding over five percent of post-offer equity share capital to contribute to minimum promoters’ contribution (MPC) without being designated as promoters. - Inclusion of equity shares from conversion of CCS held for one year before filing the DRHP for meeting MPC requirement. - Flexibility in extending bid/offer closing dates by at least one day for force majeure events. ➡ SEBI LODR Regulation Amendments: - Determination of market capitalization-based compliance requirements for listed entities based on average market capitalization of the preceding six months ending 31st December. Further, a sunset clause of three years for cessation of applicability of such provisions is also introduced - Extension of timeline for filling vacancies of KMP to six months. - Harmonization of prior intimation of board meetings to two working days. - Revision of time gap between two meetings of Risk Management Committee to 210 days. - Extension of mandatory applicability of Listing Norms for High Value Debt Listed Entities (HVDLEs) until March 31, 2025. ➡ Other Approvals: - Launch of Beta version of optional T+0 settlement for 25 selected scrips and limited brokers. - Exemption of additional disclosure requirements for FPIs meeting certain conditions. - Revision of timelines for disclosure of material changes by FPIs, categorized as Type I and Type II. - Approval for certain flexibility for FPIs and AIFs. - Establishment of a uniform approach for verification of market rumors by equity-listed entities. - Approval of a framework for issuance of subordinate units by privately placed InvITs. These regulatory changes aim to streamline processes, foster transparency, and empower market participants. #sebi #regulatoryupdates #easeofdoingbusiness #transparency #amendments

Looking forward to the insights from this benchmark that dives into how organizations are managing third-party relationships - To colleagues in the Financial Services industry, feel free to reach out if you'd like to participate and learn how your organization stacks up with peers! #FinancialServices #TPRM

Are you curious how your program compares to others? Check out the Crowe TPRM benchmark!

My colleagues at Crowe have been working on this benchmark survey that dives into how organizations are managing third-party relationships. To those in Financial Services industry, feel free to reach out if you would like to participate and learn how your organization stacks up with peers! #FinancialServices #TPRM

📢 Calling TPRM teams in the financial services industry! 📢 Crowe has launched our 2024 FS TPRM Benchmark survey! This survey is completely free and allows you to compare your program to peers of a similar asset size. The survey is open through March and personalized results will be delivered in Q2! 📈 Message me for the link to participate! 🌟 Note: This survey is targeted for banks and insurance companies with $5B in assets and above.   #thirdpartyriskmanagement #tprm #financialservices

Is your TPRM team in the FS industry? Consider participating in our benchmark and see how your organization stacks up 💡

Firms subject to Consumer Duty will be aware of the next looming deadline - the production of their first annual Consumer Duty Board report by the end of July 2024. In this whitepaper co-authored with PIMFA - Personal Investment Management & Financial Advice Association, Alpha's Chris Martin and Andrew Farrimond provide insight into how to produce an effective annual Consumer Duty Board report. Download the paper here: https://lnkd.in/ec7wDrnh #alphaFMC #PIMFA #regulation #consumerduty