The Securities and Exchange Board of India (SEBI) is planning to amend regulations related to stockbrokers soon. According to SEBI Chairman Tuhin Kant Pandey, the primary objective of updating these regulations is to strengthen risk management and data security. He stated that these changes could be implemented by December 2025. It’s worth noting that the current regulations for stockbrokers are nearly 30 years old.
Relief to those holding old physical shares
SEBI is providing significant relief to long-time investors, addressing their concerns. Investors who held physical shares prior to fiscal year 2020 but were unable to transfer them to their own names will now be permitted to do so. This will significantly ease these shareholders.
The case of Angel One
Stock brokerage firm Angel One has settled a case of violating Sebi’s disclosure norms by paying ₹34 lakh. Sebi had issued a notice to the company in April.
MCX technical glitch probe underway
A recent technical glitch at the Multi Commodity Exchange (MCX) disrupted trading. The Securities and Exchange Board of India (SEBI) is investigating the matter. Amidst the technical glitch at MCX, SEBI Chairman Tuhin Kant Pandey on Tuesday expressed displeasure over the “repeated” disruptions caused by such problems.
Pandey said the capital markets regulator will take corrective action, if necessary, after analyzing the current problem. He added that SEBI follows a standard operating procedure to deal with such incidents.
He said that SEBI’s standard operating procedures (SOPs) detail the actions to be taken after such incidents. This begins with reporting the incident and then analyzing the root cause. Reports are prepared at multiple levels, one within 24 hours and the other after a week.
He said that amid rapid digital transformation, it is essential for market intermediaries to ensure operational robustness and maintain business continuity. MCX is currently operating a new trading system from Tata Consultancy Services (TCS) starting in October 2023.
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