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of <h1>SEBI Updates Rules on Non-convertible Securities & Commercial Paper, Adds New Disclosure Norms for Recent Issuers.</h1> The Securities and Exchange Board of India (SEBI) has revised its operational circular concerning the issuance and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities, and Commercial Paper. Amendments include modifications to disclosure requirements for Commercial Paper, specifying details such as ISIN, credit ratings, and financial information. New provisions mandate that issuers existing for less than three years must disclose that their issues are open only to Qualified Institutional Buyers. These changes aim to standardize requirements and are effective immediately, under the authority of the SEBI Act, 1992.
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