SEBI Replaces Annual Custodian Fee Regime With Monthly Payments, Effective October 1 2026

The Securities and Exchange Board of India (SEBI) on 3 July notified the SEBI (Custodian) (Amendment) Regulations, 2026, replacing the existing annual fee mechanism for custodians with a monthly fee payment system. The amendments will come into force on 1 October 2026. Under the amended regulations, custodians will pay Rs. 85,000 per month or 0.0000416 per cent of their assets under custody, whichever is higher, instead of the existing annual fee of Rs. 10 lakh or 0.0005 per cent of assets...

SEBI Allows Depositories To Use 5% of IPF Investment Income For Administrative Expenses

The Securities and Exchange Board of India (SEBI) on Tuesday allowed depositories to utilise up to 5% of the annual interest or income earned from Investor Protection Fund (IPF) investments towards specified administrative and statutory expenses. This replaces the existing requirement that the entire interest or income earned from such investments be treated as part of the IPF corpus.The revised norms will come into effect from September 1, 2026. SEBI said the review was undertaken after...

SEBI Tightens Buyback Framework, Introduces 15% Limit On Stock Exchange Route From 1 August

The Securities and Exchange Board of India (SEBI) on 1 July notified the SEBI (Buy-Back of Securities) (Amendment) Regulations, 2026, introducing changes to the framework governing share buybacks. The amendments will come into effect from 1 August 2026. The amendments cap stock exchange buybacks at less than 15% of a company's paid-up capital and free reserves. SEBI has also restricted companies from making another buyback offer within the period prescribed under the Companies Act, 2013, from...

SEBI Revises Framework For Clients' Unpaid Securities Held By Trading Members

The Securities and Exchange Board of India (SEBI) on 25 June amended the framework governing the handling of clients' unpaid securities by Trading Members, citing regulatory developments and operational challenges under the existing regime. SEBI said regulatory changes, including the mandatory pay-out of securities to clients' demat accounts, and evolving market practices necessitated a revision of the framework. It also took into account stakeholder representations highlighting implementation...

SEBI Launches Settlement Helpdesk To Assist Applicants In Filing Settlement Applications

The Securities and Exchange Board of India (SEBI) has introduced a Settlement Helpdesk Facility aimed at assisting applicants and prospective applicants with the procedural aspects of filing settlement applications.In a press release issued on July 1, SEBI stated that the helpdesk would address settlement-related queries and guide applicants through the procedure for filing settlement applications.The regulator said the facility would help applicants file settlement applications, calculate the...

SEBI Fines A Holiday Club Company's Directors ₹1.10 Crore For Unregistered Collective Investment Scheme

The Securities and Exchange Board of India (SEBI) has imposed a ₹1.10 crore penalty on four directors of Citrus Check Inns Limited, a holiday club company that marketed holiday plans. The regulator held that the company operated an unregistered collective investment scheme (CIS) and engaged in fraudulent and unfair trade practices.The order was passed by SEBI Adjudicating Officer N. Murugan against Omprakash Basantlal Goenka, Prakash Ganpat Utekar, Venkatraman Natarajan and Narayan Shivram...

SEBI Proposes Uniform 75% Investor Consent Threshold For AIFs

The Securities and Exchange Board of India (SEBI) on Tuesday proposed a uniform approval threshold of 75% investor consent by value for decisions under the Alternative Investment Funds (AIF) framework that require investor approval. The proposal is part of a consultation paper aimed at simplifying investor consent requirements and tightening rules governing conflict-of-interest transactions. The regulator said the existing framework prescribes different approval thresholds for different...

SEBI Forms Expert Panel Under Former WTM, Former SBI Chairman To Review Debenture Trustee Framework

The Securities and Exchange Board of India (SEBI) on Tuesday constituted an Expert Working Group to review the existing regulatory framework governing debenture trusteeship activities and related matters.“Considering the evolving landscape of the Indian debt market and the increasing importance of Debenture Trustees in safeguarding the interests of debenture holders, a need has been felt to undertake a comprehensive review of the regulatory framework governing Debenture Trusteeship activities to...

SEBI Cancels Registration Of 15 Research Analysts Over Non-Payment Of Renewal Fees

The Securities and Exchange Board of India (SEBI) on Tuesday cancelled the certificates of registration of 15 research analysts for failure to pay the mandatory renewal fees under the SEBI (Research Analysts) Regulations, 2014.The order was passed by SEBI's Chief General Manager Soma Majumder. SEBI initiated summary proceedings against the noticees over non-payment of renewal fees.The regulator noted that as per the SEBI (Research Analysts) Regulations, every registered research analyst is...

SEBI Fines Exfinity Venture Partners, Vistra ITCL ₹10 Lakh Each For AIF Rule Violations

The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹10 lakh each on Exfinity Venture Partners LLP and trustee Vistra ITCL (India) Limited for multiple violations of the SEBI (Alternative Investment Fund) Regulations, including failing to wind up an alternative investment fund (AIF) scheme within the prescribed timeline. Adjudicating Officer Jai Sebastian passed the order. Rejecting the investment manager's defence that the scheme was continued beyond its tenure to...

SEBI Relaxes Certification Norms For Investment Advice Sales Staff, Introduces New NISM Exam

The Securities and Exchange Board of India (SEBI) on Wednesday relaxed certification requirements for Persons Associated with Investment Advice (PAIA) who perform only sales and other non-core services, allowing them to obtain a separate certification instead of clearing the two examinations prescribed for investment advisers. Under the existing framework, PAIA were required to obtain certification from the National Institute of Securities Markets (NISM) by passing the NISM Series X-A...

SEBI Proposes Common Advertisement Code For Regulated Entities, Invites Public Comments

The Securities and Exchange Board of India (SEBI) has issued a consultation paper proposing a Common Advertisement Code for specified SEBI-regulated entities. The objective is to create a uniform advertising framework across intermediaries and strengthen investor protection. The proposed framework would apply to entities including stock brokers, depository participants, investment advisers, research analysts, mutual funds, portfolio managers and online bond platform providers. SEBI noted that...