Securities and Exchange Board of India (SEBI) on Saturday announced to move to T+0 settlement by March next year. “Instantaneous settlement can be implemented after one year,” the markets regulator said after the board meeting.
SEBI Asks AIFs to dematerialise units
To facilitate ease of compliance and strengthen investor protection in Alternative Investment Funds (AIFs), Sebi said all the fresh investments made by an AIF after September 2024 should be held in demat form. Approving amendment to AIF rules, Sebi said that some exceptions have been provided. Additionally, Sebi said that the mandate for the appointment of custodians should be extended to all AIFs. Currently, the requirement applies to schemes of Category III AIFs and schemes of Category I and II AIFs with a corpus of more than Rs 500 crore.
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Facilitates Small and Medium REITs
Sebi decided to bring entities facilitating fractional investment in real estate under a regulatory framework, whereby they will be required to operate as Small and Medium Real Estate Investment Trusts. Such SM REITs should be set up as a trust with the ability to establish separate scheme for owning real estate assets through wholly-owned special purpose vehicles constituted as a company, the regulator said.
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Sebi’s board, at its meeting on Saturday, approved amendments to REITs (Real Estate Investment Trusts) Regulations, 2014 in order to create a regulatory framework for the facilitation of SM REITs, with an asset value of at least Rs 50 crore vis-a-vis minimum asset value of Rs 500 crore for existing REITs.
Regulatory Framework for Index Providers
Markets watchdog decided to introduce a regulatory framework for index providers.
(PTI Inputs)
