Regulatory Roundup

Capital Markets Change: The Securities and Exchange Board of India (Sebi) has mandated the intermediary reporting financial institution (RFI) to upload Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) certifications obtained from clients in the system of know-your-customer registration agencies (KRAs) from July 1, 2024. Impact: It will bring uniformity to the system, and investors won’t have to submit the FATCA report to different institutions while making investments. Change: Sebi issues guidelines for scrutinising draft offer documents for public issues of securities and return them to the issuer for resubmission. Impact: The guidelines came after Sebi observed that the draft offer documents for public issues often did not meet the requirements specified in the Issue of Capital and Disclosure Requirements (ICDR) Regulations. This often led to the...