There is no change made in the SEBI (Foreign Institutional Investors) Regulations 1995, regarding the eligibility criteria for registration of FII or its sub-account. SEBI has also not defined the terms PCC / SPC / MCV. SEBI has not made clear what consequences would follow for existing PCC / SPC / MCV that have been already granted registration as FII / sub-account.

Prudential Assurance Company Ltd. (Prudential) is a foreign company incorporated in United Kingdom and is engaged in the business of Insurance. Prudential registered with the Securities and Exchange Board of India as a sub-account of a Foreign Institutional Investor (FII).

Notification No. LAD-NRO/GN/2010–11/10/6771, dated 31-5-2010 – The Securities and Exchange Board of India, having considered the application for renewal of recognition made under Section 3 of the Securities Contracts (Regulation) Act, 1956 by Bhubaneswar Stock Exchange Limited having its registered office at Stock Exchange Bhavan, P-2, Jayadev Vihar, P.O. Chandrasekharpur, Bhubaneswar – 751 023

Notification No. LAD-NRO/GN/2010-11/11/6769, dated 31-5-2010 – The Securities and Exchange Board of India, having considered the application for renewal of recognition made under Section 3 of the Securities Contracts (Regulation) Act, 1956 by U.P. Stock Exchange Limited having its registered office at Padam Towers, 14/113, Civil Lines, Kanpur-208001 and being satisfied that it would be in the interest of the trade and also in the public interest so to do

The Union finance ministry plans to define any equity placement prior to an Initial Public Offer as promoter shareholding for the purpose of calculating minimum public float. The new definition will be part of an amendment to the Securities Contracts (Regulation) Rules, 1957, that would prescribe a minimum public float of 25 per cent in all companies irrespective of their size or ownership status.

In terms of sub-regulation (1) of regulation 3 of the Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007 (the Regulations), the Board is empowered to require, by notification, any category of associated persons as defined in the Regulations to obtain requisite certification.

The market watchdog Sebi today moved the Supreme Court challenging the decision of the appellate tribunal SAT that held that financial investors like PEs and VCs do not acquire controlling stake in a company by just picking up more equity.

The Government has said that no verified information is available which indicates that the cases of corporate frauds are constantly increasing in the corporate sector in the country. However, an elaborate regulatory framework is already in place under the Companies Act, 1956 as well as the regulations of other agencies like Securities andExchange Board of India, Enforcement Directorate, Central Bureau of Investigation, etc. to deal with corporate frauds.

Stock market regulator Securities & Exchange Board of India (Sebi) has widened the scope of index-based options by allowing exchanges to offer option contracts based on Sensex and Nifty with a tenure of up to five years. In January, 2008, Sebi had extended the period to three years. The share of index-based options in the total derivatives volumes has risen from around 10 per cent three years ago to 45 per cent in 2009-10 on the National Stock Exchange (NSE).

It has now been decided to permit eligible Stock Exchanges to introduce currency futures on Euro-INR, Pound Sterling-INR and Japanese Yen-INR. The details in terms of product design, margins and position limits for the three additional currency pairs are as given under Annexure I, II and III respectively.