SEBI PRESS RELEASE
PR No.88/2008
SEBI instructs Merchant Bankers not to demand for photocopy of PAN card along with Public Issue applications
It has been clarified to all registered Merchant Bankers that, the practice of requiring public issue applicants to attach photocopies of PAN cards with the application form has not been mandated by SEBI and that the present SEBI (DIP) Guidelines only require the PAN number to be quoted in the application forms, irrespective of the size of the application.
SEBI has instructed Merchant Bankers to ensure that all collection agents/ centers /syndicate/ sub syndicate members etc., engaged in collecting application forms do not refuse to accept applications in the absence of photocopy of PAN card.
Friday, March 14, 2008
Shifting Companies from Trade for Trade Segment (TFTS) to Rolling Segment
From SEBI circular MRD/DoP/SE/Cir-04/08 dated 14.3.2008
It is observed from the information provided by the depositories that the companies listed in Annexure A have established connectivity with both the depositories during the month of December 2007.
The stock exchanges may consider shifting the trading in these securities to rolling settlement subject to the following:
a) At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFT segment to Rolling segment. For this purpose, the listed companies shall obtain a certificate from its Registrar and Transfer Agent (RTA) and submit the same to the stock exchange/s. However, if an issuer-company does not have a separate RTA, it may obtain a certificate in this regard from a practicing company Secretary/Chartered Accountant and submit the same to the stock exchange/s.
b) There are no other grounds/reasons for continuation of the trading in TFTS.
It is observed from the information provided by the depositories that the companies listed in Annexure A have established connectivity with both the depositories during the month of December 2007.
The stock exchanges may consider shifting the trading in these securities to rolling settlement subject to the following:
a) At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFT segment to Rolling segment. For this purpose, the listed companies shall obtain a certificate from its Registrar and Transfer Agent (RTA) and submit the same to the stock exchange/s. However, if an issuer-company does not have a separate RTA, it may obtain a certificate in this regard from a practicing company Secretary/Chartered Accountant and submit the same to the stock exchange/s.
b) There are no other grounds/reasons for continuation of the trading in TFTS.
Friday, March 7, 2008
SEBI invites comments on (Prohibition of Insider Trading) Regulations
Consultative Paper
on
amendments to SEBI
(Prohibition of Insider Trading) Regulations 1992
http://www.sebi.gov.in/commreport/InsiderTrading.pdf
On the consultative paper on insider trading regulation SEBI invites comments
Comments are invited from the public on the above proposals. The comments may be
sent by e-mail upto 27th March 2008 to the following addresses –
santoshs@sebi.gov.in (Mr. Santosh Shukla) Dy. Legal Adviser
vidishak@sebi.gov.in (Ms. Vidisha Krishan) Legal Officer
Comments may also be sent physically to the following address, so as to reach latest by
27th March 2008 –
Mr. Santosh Shukla, Deputy Legal Advisor,
Legal Affairs Department
Securities and Exchange Board of India
SEBI Bhavan,
C-4A, G-Block, Bandra Kurla Complex
Mumbai – 400051
on
amendments to SEBI
(Prohibition of Insider Trading) Regulations 1992
http://www.sebi.gov.in/commreport/InsiderTrading.pdf
On the consultative paper on insider trading regulation SEBI invites comments
Comments are invited from the public on the above proposals. The comments may be
sent by e-mail upto 27th March 2008 to the following addresses –
santoshs@sebi.gov.in (Mr. Santosh Shukla) Dy. Legal Adviser
vidishak@sebi.gov.in (Ms. Vidisha Krishan) Legal Officer
Comments may also be sent physically to the following address, so as to reach latest by
27th March 2008 –
Mr. Santosh Shukla, Deputy Legal Advisor,
Legal Affairs Department
Securities and Exchange Board of India
SEBI Bhavan,
C-4A, G-Block, Bandra Kurla Complex
Mumbai – 400051
Tuesday, March 4, 2008
INTRODUCTION OF LONG DATED OPTIONS BSE
As per the SEBI circular SEBI/DNPD/Cir-34/2008 issued on 11-Janury-2008, BSE has introduced 'Long Dated Options on Sensex ' whereby trading in Sensex (normal lot of 15 only and not 'mini' Sensex) Options contracts is available with an expiry upto 3years. The following new options are available for the Sensex (normal lot of 15) Options contracts:
a. Along with the existing 3 monthly rolling contracts, three additional 3 fixed quarterly months of the cycle Mar/Jun/Sep/Dec would be available.
b. Further, 5 additional semi-annual months of the cycle Jun/Dec would be available, so that at any point in time there would be options contract with up to 3 years tenure available.
To illustrate, from the March series onwards i.e from February 29, 2008 onwards, the users will get to trade the following Futures and Options contracts on the normal Sensex market lot of 15 :
Three monthly Futures contracts viz. March, April and May 2008
Three monthy Options contracts viz. March, April and May 2008
Three quarterly Options contracts viz. June 2008, September 2008, December 2008
Five semi-annual Options contracts viz. June 2009, December 2009, June 2010, December 2010 and June 2011.
The existing three monthly Futures and Options series will continue for all the other underlyings presently available in the system and there will be no long dated options available for those underlyings.
Security Symbol BSX
Underlying SENSEX
Contract Multiplier 15
Contract Period Upto 3 years
Exercise Style European
Settlement Style Cash
Tick size 0.05 index points
Premium Quotation In index points
Strike price Intervals Shall have a minimum of 3 strikes (1 in-the-money, 1 near-the-money, 1 out-of-the-money).
Trading Hours 9:55 a.m. to 3:30 p.m.
Last Trading/Expiration Day: Last Thursday of the contract month in case of monthly & last Friday of contract maturity in case of weekly options. If it is a holiday, then the immediately preceding business day. For this purpose business day is a day during which the underlying stock market is open for trading.
a. Along with the existing 3 monthly rolling contracts, three additional 3 fixed quarterly months of the cycle Mar/Jun/Sep/Dec would be available.
b. Further, 5 additional semi-annual months of the cycle Jun/Dec would be available, so that at any point in time there would be options contract with up to 3 years tenure available.
To illustrate, from the March series onwards i.e from February 29, 2008 onwards, the users will get to trade the following Futures and Options contracts on the normal Sensex market lot of 15 :
Three monthly Futures contracts viz. March, April and May 2008
Three monthy Options contracts viz. March, April and May 2008
Three quarterly Options contracts viz. June 2008, September 2008, December 2008
Five semi-annual Options contracts viz. June 2009, December 2009, June 2010, December 2010 and June 2011.
The existing three monthly Futures and Options series will continue for all the other underlyings presently available in the system and there will be no long dated options available for those underlyings.
Security Symbol BSX
Underlying SENSEX
Contract Multiplier 15
Contract Period Upto 3 years
Exercise Style European
Settlement Style Cash
Tick size 0.05 index points
Premium Quotation In index points
Strike price Intervals Shall have a minimum of 3 strikes (1 in-the-money, 1 near-the-money, 1 out-of-the-money).
Trading Hours 9:55 a.m. to 3:30 p.m.
Last Trading/Expiration Day: Last Thursday of the contract month in case of monthly & last Friday of contract maturity in case of weekly options. If it is a holiday, then the immediately preceding business day. For this purpose business day is a day during which the underlying stock market is open for trading.
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