June 1, 2012
- Exit Policy for De-recognized/ Non-operational Stock Exchanges: SEBI has vide its circular CIR/MRD/DSA/14/2012 dated May 30, 2012 revised/modified its guidelines in respect of exit option to stock exchanges in order to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
- Filing Offer Documents under SEBI (Issue of Capital and Disclosure Requirements)Regulations, 2009 In partial modification to the circular No. SEBI CIR/CFD/DIL/9/2010 dated October 13, 2010, SEBI has vide CIR/CFD/DIL/5/2012 dated May 3, 2012, decided that the draft offer documents in respect of issues size upto 500 crores shall be filed with the concerned regional office of the Board under the jurisdiction of which the registered office of the issuer company falls. Merchant Bankers are accordingly advised to file the draft offer documents / offer documents with the concerned office of the Board, based on the estimated issue size as indicated in the Circular.
- Amendment to th Consent Circular dated 20th April 2007 SEBI has vide Circular No. CIR/EFD/1/2012 dated 25th May,2012 amended the Circular No.EFD/ED/Cir.-01/2007 dated 20th April 2007 providing the framework for passing of consent orders and for considering requests for composition of offences. The amendment was made on the basis of the experience gained and with the purpose of providing more clarity on its scope and applicability.