1. Rationalisation process for obtaining PAN by Investors

  2. SEBI has with a view to bring about operational flexibility and in order to ease the PAN verification process, advised the intermediaries to verify the PAN of their clients online at the Income Tax website without insisting on the original PAN card, provided that the client has presented a document for Proof of Identity other than the PAN card.

  3. Amendments to SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and Equity Listing Agreement.

  4. SEBI has noticed that some listed companies have been framing their own employee benefit schemes for the purpose of dealing in its own securities with the object of inflating, depressing, maintaining or causing fluctuation in the price of the securities by engaging in fraudulent and unfair trade practices.

    SEBI has in order to prohibit Listed entities from framing any employee benefit schemes involving acquisition of its own shares from secondary market inserted a new Clause 35C in the Equity Listing Agreement wherein it has been mandated that all the employee benefit schemes involving the securities of the company shall be in compliance with SEBI (Employee Stock Option Schemes and Employee Stock Purchase Schemes) Guidelines, 1999 and any other guidelines, regulations etc. framed by SEBI in this regard.

  5. Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to Normal Rolling Settlement

  6. SEBI has advised the stock exchanges to consider shifting the trading in the securities specified in Annexure to the circular, to normal Rolling Settlement subject to the following:

    1. 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 TFTS to normal Rolling Settlement.

    2. There are no other grounds/reasons for continuation of the trading in TFTS.

  7. Guidelines for providing dedicated debt segment on stock exchanges

  8. SEBI has in order to cater to the unique characteristics of debt markets, decided to provide dedicated a debt segment on the stock exchanges. The circular provides for the broad framework /features for debt segment

  9. Comprehensive guidelines on Offer For Sale (OFS) of Shares by Promoters through the Stock Exchange Mechanism

  10. SEBI has based on the earlier experience found, the mechanism of OFS to be useful by market participants and popular for offloading shares of promoters in listed companies in order to achieve minimum public shareholding. With the deadline of June 2013 to achieve minimum public shareholding approaching, to encourage promoters to offload their shares through OFS route and based on market feedback, SEBI has been decided to modify the OFS framework to make it more economical, efficient and transparent.

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