Changes in disclosure norms and regulatory amendments for qualified institutional buyers, and fee collection by research analysts are likely to be the key agenda for Tuhin Kanta Pandey
Securities and Exchange Board of India (SEBI) headquarters in Mumbai.
Image: Reuters /Francis Mascarenhas
All eyes are on the board meeting of the Securities and Exchange Board of India (Sebi) on March 24, the last one of the fiscal and first of the new chairman Tuhin Kanta Pandey. No big bang reforms or decisions are expected in the meeting, as typically is the case when a new head takes over.
Pandey, who took over as the chairman from Madhabi Puri Buch for a three-year stint, had said in his maiden public speech at a media event, “All reforms need not be big-bang. Many a times small reforms cumulatively are more effective. Going forward, Sebi will use a right mix of both to achieve the objectives.”
The key agenda likely to be discussed in the upcoming board meeting are a mix of changes in disclosure norms and regulatory amendments related to qualified institutional buyers (QIBs), and the fee collection by research analysts. The market regulator is expected to raise the investment threshold for granular ownership disclosures by foreign portfolio investors (FPIs) to Rs50,000 crore from Rs25,000 crore, according to a Business Standard report.
Second, under the new chief, Sebi is also likely to take a decision on the advance fee collection rules by research analysts and investment advisors.
The board meeting is also expected to expand the definition of QIBs. The Sebi consultation paper, on February 21, had proposed to include accredited investors (AI) for the purpose of investments in angel funds.