The Securities and Exchange Board of India, the market regulator, has upped the minimum investment in Portfolio Management Services (PMS) to Rs. 25 lakh. The earlier minimum was Rs. 5 lakh. This applies immediately for new clients; for existing ones, additional investments need to top up to at least Rs. 25 lakh. Many brokerages and [...]

Posted in Credit Repair, PMS, SEBI Comments Off

IPOs have gone down massively in the recent past (see IPOs largely suck in 2010-11) and a large number of them have gone down over 80% from listing prices. Many are small issues, manipulated up on the first day, attracting investors, only to later slump to levels hitherto unheard of. SEBI now has announced norms [...]

Posted in Credit Repair, IPO, SEBI Comments Off

SEBI has made some dramatic new announcements in its board meeting today. Details are sketchy (we only have a basic press release) so there is no way of knowing what this really means until the final, detailed changes are available. Mutual Fund Commissions Reintroduced Distributors can charge Rs. 100 per investment transaction, with an additional [...]

Posted in Credit Repair, SEBI Comments Off

In a detailed 99 page order, KM Abraham of SEBI makes the case for Sahara’s fund raising in 2008 and 2009 to be completely invalid because they sidestepped all necessary rules, and quite maliciously. (HT Ajay Shah) They have ordered Sahara to repay all such money with 15% interest per annum, with refund notices in [...]

Posted in Credit Repair, SEBI Comments Off

SEBI has now set up SCORES, the Sebi COmplaints REdressal System. This is now an online investor grievance redressal systems for investors in companies. (See Circular) Earlier if you had a grouse against a company – say, for non payment of dividend – you would complain to the company. The company could then choose to [...]

Posted in Credit Repair, SEBI Comments Off

SEBI has decided its now time to caution investors against "person who have been giving stock specific advice to investors and receiving consideration for the same". SEBI has been receiving complaints against persons who have been giving …

Posted in Credit Repair, SEBI Comments Off

In a sudden flurry of announcements, SEBI changes the technology game. Mobile trading will be allowed. Meaning, you will soon be able to trade directly from your mobile phone. I believe this is useful for people that travel a lot in the day. Mobile…

Posted in Credit Repair, SEBI Comments Off

So there was a lot of drama after the recent IRDA-SEBI fight, which went all the way to Finance Secretary Ashok Chawla, and the FM Pranab Mukherjee announced that “there will be status quo” until a court determines who has the right to regulate wha…

Posted in Credit Repair, Insurance, SEBI Comments Off

On Friday, SEBI issued an order banning 14 companies from issuing any more ULIPs, with immediate effect. SEBI full time member Prashant Saran said in the order that ULIPs had an investment component similar to mutual funds, and therefore are securities…

Posted in Credit Repair, Insurance, SEBI, ULIP Comments Off

SEBI has changed the rules for mutual funds again, in support of the small investors. First, for New Fund Offers (NFOs): They will only be open for 15 days. (ELSS funds though will continue to stay open for upto 90 days) It will save investors from a …

Posted in Credit Repair, MutualFunds, SEBI Comments Off