SEBI issues Consultation Paper on the direct plan for schemes of (AIFs) and a trail model for distribution commission in AIF

The objective of this consultation paper is to seek comments/ inputs/ suggestions from all stakeholders on the two proposals, i.e. direct plan for schemes of Alternative Investment Funds (AIFs) and trail model for distribution commission in AIF. The consultation paper proposes that AIFs must be mandated to offer the option of a Direct Plan for investors, entailing no distribution/ placement fee. Investors on-boarded via the direct plan will be provided for an adjusted higher number of units, taking into account the lower distribution charges applicable to them versus other investors. Thereby, all investors would continue to see the same Net Asset Value (NAV) on their unit holdings.

MoA&FW issues a Press Release on its Ban of Certain Pesticides

The press release states that based on the receipt of new studies/reports/ references/ information by the government from time to time, registered pesticides are reviewed with regard to their safety and efficacy. After due consultation with the Registration Committee, along with the recommendations of the expert committees, the MoA&FW has banned or phased out several pesticides and their formulations. Simultaneously, the government is promoting the use of bio-pesticides. These are generally safer than chemical pesticides.

Press release regarding the formulation of the Welfare Schemes for Labourers

Press release regarding the formulation of the following Welfare Schemes for Labourers are provided: Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (ABPMJAY), Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) & e-SHRAM portal.

BSE Clarification to SEBI (Stock Brokers) (Amendment) Regulations, 2022

The revised Net worth requirements as per the amended regulations would be applicable to the Members from February 23, 2023, and February 23, 2024, respectively. The Members are requested to adhere and comply with the applicable Net worth (i.e., higher than the Base Net worth or Variable Net worth) as stated in the aforesaid SEBI gazette notification with effect from February 23, 2023.

Guidelines for online gaming

Intermediaries offering online games shall observe diligence and if they fail to observe such diligence, they shall no longer be exempt from their liability under law for third-party information or data or communication link hosted by them, including on websites.

ESIC introduces Modifications to AAA+ Mobile App

The competent authority once again emphasises that the patients with appointment from AAA+ App should be prioritised. In order to enable the streamlining of this process, the authority has introduced new features to the app. Concerned administrators are required to take prescribed steps to give full effect to this endeavor.

Govt. issues Consultation Paper on refund process at IEPF Authority

The Authority invites suggestions from industry, companies and investors to make the process more investor friendly. in order to ease the process of refund, suggestions are invited on Realtime Online interface between IEPFA, Claimant and Company, Shares transferred through Reverse Corporate Action and Limitation Threshold.