The Securities and Exchange Board of India (SEBI) has been meeting various algo retailers and brokers to examine what kind regulatory framework is needed. After I flagged the issue in July this year, several developments may have nudged the regulator to act, before it is forced to react to a...

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Updated to include clarification from Mr Shailesh Haribhakti   The Reserve Bank of India (RBI) has barred Haribhakti & Co LLP from auditing companies regulated by RBI for two years starting from April next year. This is for the first time that RBI has taken action against an auditor...

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Market regulator Securities and Exchange Board of India (SEBI) is about to initiate action and revoke the licence of credit rating agency (CRA) Brickwork Ratings India Pvt Ltd, says a report quoting two people with knowledge of the development.   In the report, The Mint says, "At...

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Market regulator Securities and Exchange Board of India (SEBI) has issued the following directions to National Commodity & Derivatives Exchange Limited (NCDEX) today, in respect of trading in Mustard Seed contracts:    1. No new Mustard Seed contract shall be launched till further...

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The Bombay High Court (HC) on Thursday dismissed a petition filed by promoters of Srei group against Reserve Bank of India’s (RBI) decision to supersede the boards of two non-banking finance companies (NBFCs) of the group and initiated insolvency proceedings in both cases.   In its...

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The Reserve Bank of India's (RBI's) securitisation and asset transfer guidelines are favourable for the structured finance market. Still, it is credit neutral for rated Indian asset-backed security (ABS) transactions because most of the additional items prescribed are already considered in...

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The board of IL&FS Transportation Networks Ltd (ITNL), a subsidiary of beleaguered infrastructure financier IL&FS, has accepted the resignation of its statutory auditor SRBC & Co LLP.   The SRBC tendered its resignation from all assignments of ITNL earlier after audit regulator...

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All is not well in the government insurance sector with regard to elevation of officials, it seems.   Recently, orders by two different High Courts, in a matter of two months, relating to non-promotion of insurance industry experts, has shocked the sector.   In both cases, the...

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The Securities and Exchange Board of India (SEBI) has barred CNBC Awaaz anchor Pradeep Pandya, market expert Alpesh Furiya and four others till further orders, for fraudulent and unfair trade practices in the securities market. SEBI has also ordered impounding of gains of about Rs8.4 crore...

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This story was originally published by ProPublica.   Since 2008, McKinsey & Company has regularly advised the Food and Drug Administration’s drug-regulation division, according to agency records. The consulting giant has had its hand in a range of important FDA projects, from...

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Market regulator SEBI has barred the usage of pool accounts for transactions in units of mutual funds (MFs) on stock exchange platforms.   Presently, funds and units of mutual fund schemes move through stock brokers' or clearing members' pool accounts in an aggregate manner to client...

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In order to bring about transparency in the Investor Grievance Redressal Mechanism, market regulator SEBI has decided that all the stock exchanges and clearing corporations will now disclose complete data on complaints received against them and the redressals thereof on their...

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In an interesting development, the government has divested the Central Board of Direct Taxes Chairman from the added responsibility of overseeing and coordination of all matters pertaining to tax investigations and made the Member, Investigation, the sole authority over this key...

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While asking to impound bank accounts of two high-level employees of Infosys Ltd and Wipro Ltd, market regulator Securities and Exchange Board of India (SEBI) barred both these executives from markets until further orders for insider trading in shares Infosys. According to the market...

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Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs8 lakh on CHD Developers Ltd, Gaurav Mittal, promoter and managing director (MD) and Ravinder Kataria, company secretary, on a complaint filed by AMRG & Associates, the statutory auditor of the company...

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Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs25 lakh each on Videocon group chief Venugopal Dhoot, Electroparts (India) Pvt Ltd and Videocon Realty and Infrastructures Ltd for insider trading in the scrip of Videocon Industries Ltd.   In an...

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Market regulator Securities and Exchange Board of India (SEBI) has taken some crucial decisions related to the ownership rules of mutual funds, de-listing norms, setting up of gold exchange, social stock exchange, while also revising the framework for merger and acquisition (M&A) deals of...

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Mahavir Toshniwal, managing director (MD) of Pentagon Stock Brokers Pvt Ltd has been arrested by the economic offences wing (EOW) of Mumbai police in a fraud case of about Rs40 crore. Madhu Lunawat, co-founder and director of Pentagon Stock Brokers, had filed the...

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In a significant order, the National Company Law Appellate Tribunal (NCLAT) says the success fee paid to the resolution professional (RP) is more of a contingency and not part of the Insolvency and Bankruptcy Code (IBC).    While dismissing an appeal, the bench of justice AIS Cheema...

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The RBI’s new Account Aggregator framework aims to ensure convenience to customers in availing loans and establish a fool proof mechanism for the financial institutes to check the creditworthiness of the loanee. However, several concerns must be taken care of to protect users’ data privacy...

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