Andrija Djurovic on LinkedIn: The_Vasicek_Distribution (2024)

#TaxmannAnalysis #SEBISEBI's Working Group, formed in July 2023, has proposed crucial changes to 'Trading Plans' under the SEBI (Prohibition of Insider Trading) Regulations, 2015. Aimed at enhancing flexibility for those consistently in possession of Unpublished Price Sensitive Information (UPSI), the proposals include a shorter cool-off period, reduced coverage duration, and revamped disclosure formats. Public comments are invited until December 15, 2023.The article emphasizes the underutilization of Trading Plans despite their introduction in 2015, substantiating its point with data showing minimal disclosures by insiders. Key recommendations include:‣Reducing the Cool-off Period‣Reducing the Coverage Period‣Eliminating the Blackout Period‣Introducing Price Limits‣Revisiting Contra-trade Restrictions‣Enforcing a Specific Timeline for Trading PlanDisclosureDownload/Read More:https://lnkd.in/dSxbA4Tw[7Mins | Read Time]Authored by: Tamanna Gaba –CS, LL.B | 𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐓𝐚𝐱 & 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐋𝐚𝐰 𝐔𝐩𝐝𝐚𝐭𝐞𝐬, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://lnkd.in/dXuaSZhc#TaxmannUpdates #TaxmannAdvisory #InsiderTrading #UPSI #TradingPlans

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#TaxmannAnalysis #SEBISEBI's Working Group, formed in July 2023, has proposed crucial changes to 'Trading Plans' under the SEBI (Prohibition of Insider Trading) Regulations, 2015. Aimed at enhancing flexibility for those consistently in possession of Unpublished Price Sensitive Information (UPSI), the proposals include a shorter cool-off period, reduced coverage duration, and revamped disclosure formats. Public comments are invited until December 15, 2023.The article emphasizes the underutilization of Trading Plans despite their introduction in 2015, substantiating its point with data showing minimal disclosures by insiders. Key recommendations include:‣Reducing the Cool-off Period‣Reducing the Coverage Period‣Eliminating the Blackout Period‣Introducing Price Limits‣Revisiting Contra-trade Restrictions‣Enforcing a Specific Timeline for Trading PlanDisclosureDownload/Read More:https://lnkd.in/dSxbA4Tw[7Mins | Read Time]Authored by: Tamanna Gaba –CS, LL.B | Taxmann's Advisory & Research𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐓𝐚𝐱 & 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐋𝐚𝐰 𝐔𝐩𝐝𝐚𝐭𝐞𝐬, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://lnkd.in/dXuaSZhc#TaxmannUpdates #TaxmannAdvisory #InsiderTrading #UPSI #TradingPlans

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#TaxmannAnalysis #SEBISEBI vide Notification No. SEBI/LAD-NRO/GN/2023/135, Dated July 3, 2023, has notified the SEBI (Issue and Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2023, bringing significant changes to the existing regulations. These amendments aim to enhance transparency, accountability and investor protection in the securities market. The key highlights of the amendment include the insertion of definitions of ‘Key Managerial Personnel’ and ‘Senior Management’, streamlining the roles and responsibilities within companies. Additionally, SEBI has merged disclosure requirements for public issues and private placements, simplifying the process for issuers. To ensure comprehensive disclosures, a new chapter has been introduced for issuers making private placements of non-convertible securities, emphasizing the filing of general information documents and subsequent key information documents. This promotes transparency and provides investors with timely information.Download/Read More: https://lnkd.in/dKjVfYzt [6 Mins | Read Time]Drafted by Team | Corporate Laws#TaxmannUpdates #TaxmannAdvisory #NonConvertibleSecurities#Amendment #Disclosure

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#TaxmannAnalysis #SEBISEBI vide Notification No. SEBI/LAD-NRO/GN/2023/135, Dated July 3, 2023, has notified the SEBI (Issue and Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2023, bringing significant changes to the existing regulations. These amendments aim to enhance transparency, accountability and investor protection in the securities market. The key highlights of the amendment include the insertion of definitions of ‘Key Managerial Personnel’ and ‘Senior Management’, streamlining the roles and responsibilities within companies. Additionally, SEBI has merged disclosure requirements for public issues and private placements, simplifying the process for issuers. To ensure comprehensive disclosures, a new chapter has been introduced for issuers making private placements of non-convertible securities, emphasizing the filing of general information documents and subsequent key information documents. This promotes transparency and provides investors with timely information.Download/Read More: https://lnkd.in/dKjVfYzt [6 Mins | Read Time]Drafted by Taxmann’s Advisory & Research Team | Corporate Laws#TaxmannUpdates #TaxmannAdvisory #NonConvertibleSecurities #Amendment #Disclosure

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📢 Amendments in SEBI Listing Regulations and ICDR Regulations are as follows, approved in SEBI’s 204th Board meeting:➡ SEBI ICDR Regulation Amendments:- Elimination of security deposit requirement for IPOs.- Permitting promoter group entities and non-individual shareholders holding over five percent of post-offer equity share capital to contribute to minimum promoters’ contribution (MPC) without being designated as promoters.- Inclusion of equity shares from conversion of CCS held for one year before filing the DRHP for meeting MPC requirement.- Flexibility in extending bid/offer closing dates by at least one day for force majeure events.➡ SEBI LODR Regulation Amendments:- Determination of market capitalization-based compliance requirements for listed entities based on average market capitalization of the preceding six months ending 31st December. Further, a sunset clause of three years for cessation of applicability of such provisions is also introduced- Extension of timeline for filling vacancies of KMP to six months.- Harmonization of prior intimation of board meetings to two working days.- Revision of time gap between two meetings of Risk Management Committee to 210 days.- Extension of mandatory applicability of Listing Norms for High Value Debt Listed Entities (HVDLEs) until March 31, 2025.➡ Other Approvals:- Launch of Beta version of optional T+0 settlement for 25 selected scrips and limited brokers.- Exemption of additional disclosure requirements for FPIs meeting certain conditions.- Revision of timelines for disclosure of material changes by FPIs, categorized as Type I and Type II.- Approval for certain flexibility for FPIs and AIFs.- Establishment of a uniform approach for verification of market rumors by equity-listed entities.- Approval of a framework for issuance of subordinate units by privately placed InvITs.These regulatory changes aim to streamline processes, foster transparency, and empower market participants. #sebi #regulatoryupdates #easeofdoingbusiness #transparency #amendments

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Sebi regulations mandate that top 100 listed entities by market capitalisation must verify, confirm, deny or clarify market rumours from February 1, 2024. This has now been extended to June 1, 2024.Similarly, the top 250 listed entities were to mandatorily verify and confirm, deny or clarify market rumours with effect from August 1, 2024, which now stands extended till December 1, 2024. Regulation 30(11) of the Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”) inter-alia requires top 100 listed entities by market capitalization and thereafter the top 250 listed entities by market capitalization to mandatorily verify and confirm, deny or clarify market rumours from the date as may be specified by SEBI.

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The submission for the UK’s updated leverage ratio framework reporting (entry point LRV002) is swiftly approaching, with a reporting period ending on 30th June 2024 and a submission deadline of 9th of August 2024, making the latter date the most important.Updated regulations mandate submission of four new templates every six months, focusing on aspects like collateral swaps and repurchase agreements.Compliance requires validating submissions against nearly 50 regulator-defined rules and submitting data in XBRL format. Introduction of requirements by BoE aims to assess exposure to excessive leverage and mitigate contingent leverage risks. Risks arise when institutions can't rely on capital efficiency of certain funding methods, potentially reducing leverage ratios during stress scenarios.

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📢 Important Update on NSE CIRCULAR ON Mandatory Submission of Voting Results in XBRL Format🎯 📊📌 Background: As per Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, listed entities are required to provide Voting Results 📈 within two working days following the conclusion of their General Meetings 🧑💼👩🏻💼👨💼 in the format 🧾 specified by SEBI.🚀 Crucial Change: Currently, listed entities submit Voting Results in both PDF 📄 and XBRL formats 📈. To enhance ease of compliance, NSE has made an important decision. Starting from November 01, 2023, listed entities must exclusively file Voting Results in XBRL format. This will be the only accepted method of compliance under Regulation 44(3).Action Required: If you represent a listed entity, please take note that it is imperative to submit your Voting Results disclosures wef 01 November 2023 *solely* in XBRL format through the provided channel:📌 Path: NEAPS > Compliance > Common XBRL Upload > Voting ResultsAll secretarial teams of listed entities to adapt to this new requirement to ensure smooth and compliant operations. 📢Thank you for your attention, and let's strive for seamless compliance! 🌟📊💼 #XBRLCompliance #RegulatoryUpdate #NSEindia #LinkedInUpdate #listedcompanies #CS #comploianceofficer

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Sebi's 2023 in a nutshell: 54 reports, countless changes! From market infrastructure to finfluencers, it marks the busiest year in two decades for the regulator, Chahek Garg with the details.

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