New Sebi Chief Pandey's First Board Meeting: Key Decisions And Changes

Tuhin Kanta Pandey, the former Finance Secretary has moved on to become the new chairperson of the Securities and Exchange Board of India (Sebi) in March this year.

Pandey also held his first board meeting on Monday as the new Sebi chief.

What Are The Key Decisions & Changes Sebi Made?

Doubling Threshold For Determining FPIs: During the board meeting, Sebi decided to double the threshold for determining the foreign portfolio investors (FPIs) which need to make additional disclosures. The board has decided to increase the threshold for granular disclosures by FPIs from the current Rs 25,000 crore to Rs 50,000 crore assets under management (AUM) in the securities market.

RAs/IAs Can Collect A Year's Fee In Advance: The regulator has also announced that research analysts (RAs) and investment advisors (IAs) can collect a year's fee in advance now. Until now, IAs were only allowed to collect six months' fee in advance and RAs could collect advance fee for only one quarter.

NSE's IPO Proposal To Be Reviewed: The newly appointed chairperson Tuhin Kanta Pandey said that Sebi will examine NSE's IPO proposal and look into issues that surround its listing. Additionally, the regulator will also assess the best way to move forward, indicating renewed hope for the much anticipated listing.

Tough Stance On Malpractices: Pandey said that some companies were making "blatantly false disclosures" and the market regulator does not hesitate to act against such practices. He added that the Industry Standards Forum (ISF) has defined the same and the frequency of making these disclosures.
 

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