Securities And Exchange Board of India (Public Offer And Listing of Securitised Debt Instruments) (Amendment) Regulations, 2015 - SEBI-NRO/OIAE/GN/2015-16/001 - SEBI
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Trustee duties expanded: enhanced supervision, reporting and disclosure obligations to strengthen investor protection in securitisation transactions. The amendment enacts enhanced eligibility and registration conditions for trustees including networth and staffing/qualification requirements; prescribes detailed trustee duties to supervise security creation and enforcement, ensure availability of trust property for specific scheme/tranche investors, obtain quarterly originator reports and auditor certificates, share such information with rating agencies, call investor meetings on requisition or servicer default, appoint a compliance officer, maintain infrastructure and notify the Board of networth shortfalls or material adverse actions. Schedule additions require confidentiality, prohibition on insider trading, internal controls, corporate governance and a standardised summary term sheet covering transaction particulars and credit enhancement disclosures.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Trustee duties expanded: enhanced supervision, reporting and disclosure obligations to strengthen investor protection in securitisation transactions.
The amendment enacts enhanced eligibility and registration conditions for trustees including networth and staffing/qualification requirements; prescribes detailed trustee duties to supervise security creation and enforcement, ensure availability of trust property for specific scheme/tranche investors, obtain quarterly originator reports and auditor certificates, share such information with rating agencies, call investor meetings on requisition or servicer default, appoint a compliance officer, maintain infrastructure and notify the Board of networth shortfalls or material adverse actions. Schedule additions require confidentiality, prohibition on insider trading, internal controls, corporate governance and a standardised summary term sheet covering transaction particulars and credit enhancement disclosures.
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