Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
The regulator strengthens governance of Market Infrastructure Institutions by amending SECC and D&P Regulations to define appointment, roles, and reporting of Managing Director, Executive Directors, CTO, CISO, and Chief Risk Officer. Two Executive Directors for Critical Operations and for Regulatory/Compliance/Risk/Investor Grievances must sit on the Governing Board, be selected via public advertisement, and approved by the regulator, including compensation. EDs report to the MD but are independently evaluated by Board committees, and must report quarterly to the Governing Board, with direct access to the regulator when necessary. Key management personnel now report to EDs, while statutory committees retain direct quarterly access. The Chief Risk Officer will oversee system and cybersecurity audits and join technology committee meetings.
The regulator strengthens governance of Market Infrastructure Institutions by amending SECC and D&P Regulations to define appointment, roles, and reporting of Managing Director, Executive Directors, CTO, CISO, and Chief Risk Officer. Two Executive Directors for Critical Operations and for Regulatory/Compliance/Risk/Investor Grievances must sit on the Governing Board, be selected via public advertisement, and approved by the regulator, including compensation. EDs report to the MD but are independently evaluated by Board committees, and must report quarterly to the Governing Board, with direct access to the regulator when necessary. Key management personnel now report to EDs, while statutory committees retain direct quarterly access. The Chief Risk Officer will oversee system and cybersecurity audits and join technology committee meetings.
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