SEBI to strengthen KYC norms
Mumbai: According to the stock market regulator SEBI the permanent account number (PAN) would be required for transactions in the cash market from October 1. PAN had been made mandatory for transacting in the futures and options market as well as for operating a beneficiary owner account in the depository system. The capital markets regulator has asked the stock exchanges to ensure that with effect from October 1transactions in the cash market are executed only in respect of clients whose PAN details have been collected and uploaded to the exchange by the members.
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Not selling out to Temasek; Stanchart
Kolkata: Standard Chartered Mutual Fund says it has not sold a stake in its asset management arm to Temasek, the strategic investment outfit affiliated to the Government of Singapore. The latter is said to be in talks with the bank for a possible acquisition. StanChart MF currently manages about Rs9,550 crore, excluding fund of funds (as on June 30, 2006), through a clutch of schemes, most of which are debt-oriented.

Temasek, it was recently reported, is eyeing a buyout of an existing player in the Indian asset management space. Incidentally, it is already seen to be entering the funds business, courtesy a newly-promoted outfit branded as Lotus.
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RPG plans to list retail arm
Mumbai: RPG Enterprises plans to list the RPG group's retail arm RPG Retail Ltd., including the Spencer's and MusicWorld brands, on the stock exchanges in early 2007.

RPG Retail plans to double its store space to 1.2 million sq ft (111,000 sq metres) by March 2007 company sources said. The store expansion would be funded mainly through internal accruals and possibly private equity. The company is opening at least one Spencer's and one MusicWorld outlet each week.
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Special court to be set up to dispose Sebi cases in Maharashtra
Mumbai: A special court would be set up for speedy disposal of prosecution cases filed by SEBI in Maharashtra.

The market regulator had requested the state government to set up the special court considering the long pending cases filed by it in various courts in Mumbai.

The court will deal with around 450 cases pending with the various courts in Mumbai.

A similar special court has already been set up in Delhi.
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