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Showing posts from November, 2015

SEBI ENLIGHTED THE GREY AREAS UNDER SEBI (SBEB) REGULATIONS, 2014

The Capital Market Regulator, SEBI, has cleared the air around certain grey areas that persisted under the SEBI (Share Based Employee Benefit) Regulations, 2014, which got notified on 28th October, 2014. SEBI, on 21st October, 2015, had issued a FAQ paper which clarified the ambiguities prevailing on part of Regulation 3(12) of the SBEB Regulations, i.e. with regard to appropriation of un-appropriated inventory under an Employee Benefit Scheme. Further, on 20th November, 2015, SEBI issued another FAQ document on the Regulations, thereby clarifying that Independent Directors can exercise the options granted to them before promulgation of these Regulations.

A gist of both the FAQs is given herein below:

Clarification w.r.t to Appropriation of Inventory held by the Trust as on the date of the Notification of the Regulations in the year 2014.

As per Regulation 3(12) of the SEBI (SBEB) Regulations, 2014, The un-appropriated inventory of shares which a…

Securities Law Newswire : SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015.... COUNTDOWN BEGINS!!

We are aware that the Capital Market Regulator, SEBI, with a view to consolidate and streamline the provisions of existing listing agreements for different segments of capital market into one single document, has came up with new Listing Regulations on September 02, 2015 for which all the listed entities have been given a time period of 90 days for complying with its provisions. That is, the new Regulations will become effective w.e.f 2nd December 2015, only 2 weeks to go. As per the Regulations, various Policies, viz. Preservation Policy, Archival Policy and Materiality Policy are needed to be prepared by the Companies, with Archival & Materiality policies even to be uploaded on the Company’s’ websites. Since only a few days are left, so it’s advisable that Companies gear up for preparation of these Policies and making requisite disclosures. Further, SEBI has already issued the Uniform Listing Agreement, needed to be executed between the Listed Companies and the Sto…