 "SEBI")
SEBI(Photo: Shutterstock)
The Securities and Exchange Board of India (Sebi) plans to revamp the informal guidance (IG) framework—a mechanism used by market participants for seeking clarity or interpretation of securities law.
Among the changes suggested by the regulator is allowing more market participants to seek guidance under this framework. Additionally, Sebi has proposed to hike the application fee from Rs 25,000 at present to Rs 75,000.
New entities that will be allowed to seek IG include stock exchanges, clearing corporations, depositories, and managers of pooled investment vehicles such as alternate investment funds, Real Estate Investment Trusts (Reits), Infrastructure Investment Trusts (Invits), and Collective Investment Schemes (CIS).
“Considerable time has elapsed since the introduction of the IG Scheme and, given the experience of Sebi while processing informal guidance applications, the provisions of the IG Scheme need to be reviewed and updated in order to keep up with the ever-evolving market needs,” Sebi has said in a consultation paper.
First Published: Aug 30 2024 | 4:56 PM IST
