REGULATIONS


IANS 21 December 2022
The European Commission has opened an in-depth investigation to assess the proposed acquisition of enterprise Cloud software company VMware by Broadcom.   VMware was acquired by chip and software maker Broadcom from Dell Technologies for $61 billion in May this year.   The...

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Moneylife Digital Team 20 December 2022
Market regulator Securities and Exchange Board of India (SEBI), decided to introduce a platform for risk reduction access to help investors in case of disruption of trading services provided by a stock broker. While increasing the minimum utilisation of the amount to 75% from 50% for buyback...

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Moneylife Digital Team 20 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a total penalty of Rs8 lakh on C Parthasarthy, chairman and managing director (CMD) and Rs4 lakh on Vikas Rajpal, compliance officer of Karvy Stock Broking Ltd, for violating SEBI regulations related to its portfolio...

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IANS 20 December 2022
The Haryana Real Estate Regulatory Authority (RERA) has asked Pareena Laxmi Infrastructure Private Ltd to pay delayed possession charges (DPC) to its allottees of its Gurugram housing society at the prescribed interest rate well within the time specified.   The Authority's order will...

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Moneylife Digital Team 20 December 2022
Market regulator Securities and Exchange Board of India (SEBI) on Monday proposed ways to strengthen the existing complaint redressal process in the securities market by making use of online dispute resolution mechanisms.   In its consultation paper, the regulator has suggested...

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Arun Kumar (The Leaflet) 20 December 2022
In a vibrant democracy, critique of policy a) makes for a) better policies, and b) helps correct mistakes as they occur. Official spokespersons will always argue that the government is doing the best under given circumstances. But today, the world is changing so fast that mistakes will occur...

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Moneylife Digital Team 20 December 2022
The Reserve Bank on Monday (RBI) said it has imposed a penalty of Rs2.66 crore on Bank of Bahrain & Kuwait BSC, India operations for non-compliance with directions on cyber security framework. The bank failed to implement systems to detect unusual and unauthorised, internal or external...

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Moneylife Digital Team 20 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has banned Securekloud Technologies Ltd (STL) and three of its directors from the securities market for one to three years and fined them a total of Rs10 crore for allegedly misrepresenting the company’s financial...

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Moneylife Digital Team 20 December 2022
Securities and Exchange Board of India (SEBI) on Monday barred two individuals from the securities markets and impounded illegal gain of Rs1.68 crore made by them from indulging in front-running trades. Those banned by SEBI are Gaurav Dedhia, who was employed as a chief dealer with IDBI...

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Moneylife Digital Team 20 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs2 lakh on DS Kulkarni Developers Pvt Ltd for the company's failure to create a debenture redemption reserve (DRR) to protect non-convertible debenture (NCD) holders.    In an order, Soma...

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IANS 19 December 2022
Nearly 63% of posts in the serious fraud investigation office (SFIO) under the Union Ministry of Corporate Affairs, are vacant.   "At present, total sanctioned posts are 238. Out of these, 88 are filled and 150 are vacant," minister of state, corporate affairs Rao Inderjit Singh said...

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Ian MacDougall (ProPublica) 19 December 2022
This story was originally published by ProPublica.   US Congress last week passed a bill that takes aim at the risk of improper influence when government contractors work for both federal agencies and private-sector clients. President Joe Biden is expected to sign the...

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Over a year ago, we, at Moneylife Foundation, began to explore public liability insurance (PLI) and why it is not available for those who are injured in public places such as banks, restaurants, cinema houses, theatres, malls, hospitals, hotels, airports, or while accessing bridges and...

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Moneylife Digital Team 17 December 2022
As many as 12 cooperative banks have been liquidated since September 2021 after payment to depositors by Deposit Insurance and Credit Guarantee Corporation (DICGC). Till 30 November 2022, DICGC settled deposit insurance claims worth Rs4,055.10 crore of over 30.6K (thousand) depositors from 35...

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IANS 17 December 2022
The proposed amendment to the definition of health insurance business is not exhaustive and may lead to disputes at the time of claims, said four unions in the Life Insurance Corporation of India (LIC).   The Unions also said the proposed amendments does not define the term liability...

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Moneylife Digital Team 16 December 2022
The Reserve Bank of India (RBI) has ordered Cashfree, Razorpay and Stripe to pause merchant on-boarding until the central bank issues them the payment aggregator (PA) licence it has tentatively approved for them, says a report from Entrackr. Last month, RBI asked Paytm Payments Services...

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IANS 16 December 2022
The central consumer protection authority (CCPA) sent notices to two e-commerce entities, Flipkart Internet Private Ltd and Fashnear Technologies Private Ltd (meesho.com), for gross violations relating to sale of acid reported on their platforms and directed them to furnish detailed responses...

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Moneylife Digital Team 15 December 2022
As many as 31 out of 36 states and Union Territories (UTs) have set up Real Estate Regulatory Authority (RERA) and have disposed 103,784 complaints, the Union government says.    In a written reply in the Lok Sabha, Kaushal Kishore, minister of state for housing and urban affairs,...

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IANS 14 December 2022
The Haryana Real Estate Regulatory Authority (HRERA), Gurugram, has imposed a penalty of Rs2.50 crore on Brahma City Private Limited, a real estate promoter, for violating the provisions of the real estate (regulation and development) Act of 2016.   "The authority imposed a penalty of...

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Moneylife Digital Team/ IANS 13 December 2022
Sam Bankman-Fried (SBF), the former chief executive officer (CEO) of bankrupt crypto exchange FTX, has been arrested in the Bahamas, as he was expected to testify online before the US House Financial Services Committee on Tuesday. Following his arrest in the Bahamas, US authorities on Tuesday...

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