Discover and read the best of Twitter Threads about #SEBI

Most recents (24)

Let us do Role Play with #SEBI officials (SO) - they play the role of Investors and we of course are MFDs

SO
1) How much amt shd I invest? 2) Which Asset Class shd I invest?
3) For how long shd I invest? 4) Which AMC & Schemes shd I invest?
5) When shd I exit?

MFD response๐Ÿ‘‡
MFD Response:
1) Spk with RIA
2) Search in Google
3) Search on Social Media
Following queries are compiled based on past experiences. Not to demean anyone. Just bear with the examples as they are only to showcase the futility of current MFD vs RIA notification.

DIY Investors, do not take these personally
Read 9 tweets
Day 3: ๐—ฃ๐—ฎ๐—ฟ๐—น๐—ถ๐—ฎ๐—บ๐—ฒ๐—ป๐˜ #MonsoonSession2020

Watch this space for ๐—Ÿ๐—ถ๐˜ƒ๐—ฒ ๐—จ๐—ฝ๐—ฑ๐—ฎ๐˜๐—ฒ๐˜€ Image
Legislative Business in #RajyaSabha :

- Institute of Teaching & Research in #Ayurveda Bill
-Salaries & Allowances of Ministers (Amendment) Bill
-#Homoeopathy Central Council (Amendment) Bill
-Indian #Medicine Central Council (Amendment) Bill
Papers & reports tabled, Zero Hour underway:

-@ghulamnazad raises issue of unemployment in #JammuKashmir
-INC's @PBhatacharyaINC bats for National #Helpline for Homeopathic treatment ImageImage
Read 44 tweets
A quick take on new #SEBI Norms. 1/NLike it was mentioned yesterday - Lot of things can happen. 1) A Multi-Cap Fund may merge itself with a Large & Midcap Fund or any other category. 2) Outflows from Multi-Cap Funds to #LargeCaps which reduces the theoretical buying in #smallcaps
2/N 3) Close the Fund which may not be viable. Nobody likes losing AUM. 4) Another creative Solution or Loop. The Fact is #Smallcaps cannot digest 5000 Cr of Liquidity Gush, forget about 27000 cr. But all the solutions will lead to AUM leakage which AMCs may not like !!
N/N The LargeCap Polarization got accelerated by the categorization of Stocks by SEBI. Now that stance is shifting and that is where a lot of MFs will slowly start re-aligning to Smallcaps selectively. Bottomline -Do not go rush buy or sell stocks coz of the Circular!
Read 4 tweets
Friday night Q

Assume you are a Mutlicap fund manager with over 75% funds in largecaps
how you have to sell at least 1/3rd of these large caps

which is the Large cap cos (top 100 market cap as per AMFI/SEBI)

that YOU will sell? name your companies (MAX 3)

#SEBI #mutualfunds
Read 3 tweets
Hello Friends, I am a small investor and keep tracking of my holdings. I found that #Sharekhan is doing something wrong and holding shares for 7 to 8 days instead of delivery. I checked everything and raised complain with Sharekhan they transferred my shares with small sorry.
But this thing doesn't stopped here. I keep checking my account and saw that again they are holding my stocks even after my ledger is always positive. I have never done margin trading, NO FNO Account/trade. Only cash buy, I raise complain on @SEBI_India #Scores which directed to
@NSEIndia and they taken care of it. They asked #Sharekhan for a reason but Sharekhan not able to provide any reason. From 30th July to 8 Sept there were emails back n forth but no solution. NSE arrange a video conference between Sharekhan, Me and GRC team. Where Sharekhan told
Read 8 tweets
SEBI opens a restaurant

You order a Multi-cap fund
your get
1/4th large cap
1/4th mid cap
1/4th small call
1/4th chefs or Fund mangers choice!

#SEBI #mutualfunds #smallcaps #midcap #largecaps

๐Ÿ˜‚
This will lead to selling in large caps
and huge buys in small caps
and also significant inflows in mid caps

From Bihag Parikh
#SEBI #mutualfunds #smallcaps #midcap #largecaps Image
As per AMFI and SEBI for mutual fun investment

large caps: top 100 companies in terms of market
(generally align with Nifty 50+ Next 50)

mid-caps: 101st to 250th companies

small caps: 251st onwards

How small are smallcaps?
RIL market cap > 2x of all small caps in India!!
Read 3 tweets
#TweetStorm - A Quick take on the new #SEBI circular. 1) The new rule states that a Multicap Fund needs to have 25% in #LargeCaps, 25% in #Midcaps. 25% in #Smallcaps. This needs to be aligned before January 2021.
Data Source - MoneyControl 2) The Total AUM of the Multi-Cap Funds is 1.53 lakh crores. 25% allocation to #Smallcap =38300 crores. Current Allocation= 11240 Crores. Potential Buying or Difference to be Aligned = 27062 crores.
3) Why is everyone going mad about it in #Whatsapp and #Twitter. Total Market Cap of 251st to 500th Company is 9 lakh crores. 27000 Cr implies 3% of Equity. In many of smallcaps promoters own 50-75%. That's like 10% of float buying theoretically. Source - AMFI.
Read 5 tweets
#SEBI just issued a circular for MultiCap Funds.
Min 25% will be in Large Caps
Min 25% in Mid Caps
Min 25% in Small Caps

This is a very odd decision and steals the flexibility of the MultiCap Funds. This will put an enormous pressure on the markets in next few weeks. Image
just heard on a conference by Kotak - this wasn't even discussed with AMFI. However, there is a lot of hope that #SEBI could reconsider their decision.

My personal experience on SEBI mandates - they rarely reconsider.
Our blog post on the same issue

insight.banyanfa.com/what-should-i-โ€ฆ
Read 3 tweets
Thread (1/6)

According to @moneycontrolcom, the new #Margin rules launched by @SEBI_India would have long-term benefits at the cost of short-term decrease in volumes.

However, what do these changes entail for the #Investors and #Traders?

#SEBI #ShareMarket #ShareMarketNews
Thread (2/6)

โžก Buying and selling of #EquityShares will require upfront margin.

Eg. In case shares of #RelianceIndustries worth INR 1,00,000 are to be sold, applicable margin (Eg. INR 20,000) is required to be maintained upfront.

#SEBI #ShareMarket #ShareMarketNews
Thread (3/6)

โžก In case of delivery trade, trader should deposit excess of investment amt. & margin within 2 business days from purchase date.

REF: Previous tweet, the trader must deposit INR 80,000 within 2 business days from purchase date.

#SEBI #ShareMarket #ShareMarketNews
Read 7 tweets
๐Ÿ“• #SEBI GUIDELINES FOR MARGINS

1โƒฃ As per new SEBI rules, buying and selling of shares will require upfront margin.

Eg: If you want to buy shares worth โ‚น1 lakh then you must have โ‚น20K margin cash in your trading account & the balance of โ‚น80K to be paid within 2 days.

{1/5}
2โƒฃ If you want to sell โ‚น1 lakh worth of shares from your holdings then too you must have minimum โ‚น20K margin cash in your account, failing which penalties will be levied.

You can keep extra cash / or can pledge your other holdings for the stipulated margin required.

{2/5}
3โƒฃ Buy Today Sell Tomorrow (BTST) closed.

Shares bought today cannot be sold tomorrow.

Eg: If you bought shares on Monday then you can sell those shares only after recieving the delivery of shares in your demat account i.e. you can sell on T+2 day, Wednesday.

{3/5}
Read 8 tweets
The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
Bench will today be hearing the arguments on behalf to SEBI. Arguments to be addressed by Mr. Arvind Dattar, Senior Advocate.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Bench: Can the order appointing the forensic auditor be placed on record?

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 38 tweets
The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
The Karnataka High Court will hear the arguments on the Impleadment application which was filed before the Gujarat High Court.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Regulation 39(3) does not envisage any notice being sent to the unit holders.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 31 tweets
The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
The bench will today hear the Criminal writ petition transferred from Chennai.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Adv. Nithyaesh Natraj is advancing arguments on behalf of the Petitioner.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 39 tweets
The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
The bench will today hear the writ petition transferred from Chennai.

@LiveLawIndia @barandbench @BloombergQuint @livemint @EconomicTimes @bsindia #gslupdates #franklintempleton #franklinupdate
Adv. Nithyaesh Natraj is advancing arguments on behalf of the Petitioner.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 52 tweets
The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
Yesterday, Sr. Adv. Dr. Aditya Sondhi pointed out the fact to the court that the enhanced borrowing limit should have been utilised for the purpose of redemption of units.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Dr. Sondhi: The October- December quarter witnessed an unprecedented rise in the redemption requests. This was due to the circular of SEBI of October 2019.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 60 tweets
The Karnataka High Court will shortly resume the hearing on plea challenging validity of Regulations 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up on MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
On Friday, Sr. Adv. Mr. Aditya Sondhi appearing on behalf of the Petitioner in the writ transferred from Gujarat submitted that the trustees did not conduct any meeting of the unit holders thereby violating the provisions of their own scheme information document.

#gslupdates
Mr. Sondhi: Regulation 18 (15A) contemplates a written communication to the unit holders when there is a change proposed in the fundamental attributes of a scheme.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 44 tweets
The Karnataka High Court will shortly resume hearing on plea challenging the validity of Regulation 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 pertaining to winding up of MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
Yesterday, Sr. Adv. Mr. @sradvravindra pointed out to the court that an event speculated under Regulation 39 should be of such a nature so as to make it impossible to continue with the scheme and not merely making it uneconomical for the company to continue with it.

#gslupdates
Mr. @sradvravindra: #SEBI has the power and therefore the duty to protect the interest of investors.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 115 tweets
The Karnataka High Court will shortly resume hearing on plea challenging the validity of Regulation 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 relating to winding up of MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
Yesterday, Sr. Adv. Mr. @sradvravindra submitted that an expert can ascertain whether a decision of winding up is in the interest of investors or the interest of the trustees.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Mr. @sradvravindra: Recommendations of AMC and decision taken by trustees have not been placed on record. The notice which was published is on record.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 21 tweets
The Karnataka High Court will shortly resume hearing on plea challenging the validity of Regulation 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 pertaining to winding up of MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
Yesterday, Sr. Adv. Mr. @sradvravindra pointed out to the court that the regulations do not allow #SEBI to enter into the arena of judging the correctness of the decision of winding up.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
Mr. @sradvravindra: Under regulation 41(2)(b) the investors have the lowest priority of receiving the money which is discriminatory.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 61 tweets
The Karnataka High Court will shortly resume the hearing on Plea challenging the validity of #SEBI (Mutual Fund) Regulations, 1996 relating to winding up of MF schemes Regulations 39 to 41.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
In the last hearing it was summarised by Sr. Adv. @sradvravindra that Regulation 39(2)(a) should be harmoniously construed with regulation 18(15) which requires the consent of unit holders for taking the decision of winding up.

@sh_abhinav @LiveLawIndia @barandbench #gslupdates
Mr. @sradvravindra : The Court may ask #SEBI at some stage regarding the outcome of forensic audit being conducted against FT.

@sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 59 tweets
The Karnataka High Court will shortly resume the hearing on plea challenging the validity of #SEBI (Mutual Funds) Regulation, 1996 pertaining to winding up of MF schemes Regulation 39 to 41.

@sradvravindra @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
Yesterday, Sr. Adv. @sradvravindra appearing on behalf of the Petitioner pointed out that in a press release #SEBI condemning the actions of some MF schemes.

@sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdates #mutualfundsahihai
He cited the #SEBI press release which said that some MF houses have chosen to high concentration of high risk, unlisted debt securities with low credit ratings and did not rebalance their portfolios even during 12 months available to them.

#gslupdates #franklintempleton
Read 65 tweets
The Karnataka HC will shortly resume the hearing on plea challenging #SEBI (Mutual funds) regulations, 1996 regarding the winding up of MF schemes, Regulation 39 to 41.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdates #mutualfundsahihai
Yesterday, Sr. Adv. Mr. Ravindra Shrivastava pointed out that the winding up of the mutual fund schemes have put a clog on the redemption on the units.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdates #mutualfundsahihai
This clog on redemption is a change in the fundamental attribute of the scheme.

@LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdates #mutualfundsahihai
Read 89 tweets
Karnataka High Court is hearing a writ petition challenging the validity of #SEBI (Mutual Funds) Regulation, 1996

@sh_abhinav #gslupdates #franklintempleton
The matter is being heard by a division bench comprising of the Honโ€™ble Chief Justice and Honโ€™ble Justice Ashok S. Kinagi.

#gslupdates #franklintempleton
These matters were transferred from all over the country to Karnataka by order of the Hon'ble Supreme Court.

#gslupdates #franklintempleton
Read 11 tweets
It's that time of the season again when Divestment talks during a bull run gathers momentum (with little results)

LIC IPO is back on the table with advisors being chosen. Fair enough!

A thread below on why LIC IPO is not going to be a cakewalk
(a) LIC is the largest #DII in India handling $500bn #investment portfolio. LIC act stipulates that all #receipts and payments need to be made out of that fund only. In case govt divest 10% stake (min stake required as per #SEBI regulations), who will do the corpus handling?
(b) LIC act stipulates that the insurer distribute 5% surplus p.a to GOI as #dividend. Most pvt insurers prefer higher ratio to shareholders. Any change in this ratio requires approval from both houses of #parliament. Even investors would insist on clarity before committing $
Read 6 tweets

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