SEBI norms to cover investment advisors soon
Investment advisors are once again under the lens of the Securities and Exchange Board of India (SEBI), with the capital market regulator on Saturday deciding to come up with regulations for such advisors, reports CNBC-TV18.

Asked about the kind of persons who are likely to be covered under the proposed regulations, the SEBI Chairman, M Damodaran said, "Those that render investment advice that was relatable to SEBI's area of activities would certainly be covered."

He also made it clear that the proposed regulations would not be focused on any particular single medium of communication.

"What is more important is the message and not the medium. We are looking at the quality of message that goes out. Is it advice? Is it advice that is driven only by expertise? Or is it advice that is driven by agenda?"

He said that these regulations would be framed having regard to the need for expertise as well as responsibility in the advisory functions. "It is our belief that qualified, competent and responsible investment advisors will be a major contributor to informed decision making by investors and will in due course positively impact the market — both in regard to existing as also new investors that are likely to come into market," he said.
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BSE may consider new listing platform for SMEs
The country's oldest stock exchange, The Bombay Stock Exchange, is open to the idea of creating a separate platform for small and medium enterprises, SMEs to tap the capital markets.

In view of the high listing fees charged by various national stock exchanges, BSE officials feel there is a strong case for a separate trading platform for SMEs, charging them lower listing fees, to enable them to raise risk capital.

The London Stock Exchange runs the Alternative Investment Market (AIM) for medium and small companies, with easier regulatory norms.

SMEs say they find it difficult to meet the various compliance norms of the national-level exchanges, which restricts their ability to raise funds from the markets.

As economic opportunities grow in a growing economy, small and medium enterprises are keen to raise money from the capital markets.
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NSE curbs fresh derivative positions in IFCI
Mumbai: The National Stock Exchange (NSE) has banned the build-up of fresh positions in the derivative contracts of IFCI Ltd, as the contracts had crossed the 95 per cent market-wide position limit.
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