SEBI Extends Deadline for Brokers to Settle Unregulated Algo Trading Cases
In a big relief for stock brokers, India’s markets watchdog SEBI has extended the deadline for its special settlement scheme on unregulated algo trading platforms. The new cutoff date is now October 16, up from the original September 16.
SEBI launched this scheme back in June to help brokers tied to unauthorized algorithmic trading platforms wrap up their pending cases quickly. These cases involve issues like violations that are currently under review by authorities such as Adjudicating Officers, the Securities Appellate Tribunal, and even courts.
Why the extension? SEBI noticed a surge in interest from brokers in the last few days. "Many entities have shown keen interest in joining the scheme," the regulator stated, adding that this prompted the one-month extension to give everyone a fair shot.
If brokers opt in, they can resolve their SEBI proceedings faster and avoid drawn-out legal battles. But SEBI made it clear: those who skip this chance will still face full legal action as per the rules.
This move comes hot on the heels of SEBI’s recent board meeting, where it rolled out several key regulatory updates. One standout change eases norms for minimum public shareholding (MPS) in initial public offerings (IPOs). Big companies with a market cap between Rs 50,000 crore and Rs 1 lakh crore now have more breathing room.
Under the new rules, these firms must hit 15% MPS within five years of listing and reach 25% within 10 years. This flexibility aims to make IPOs smoother for large players while ensuring fair public access to shares.
SEBI’s decisions highlight its push to balance innovation in algo trading and stock market regulations with investor protection. Keep an eye on how these changes shake up the Indian stock market scene.
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