Regulatory & Compliance

The Securities and Exchange Board of India (SEBI) has released a consultation paper dated August 21, 2026, proposing a new category of market intermediaries called Fixed Income Channel Partners (FICPs). The proposal aims to expand retail participation in the corporate bond market by creating a distribution network that extends beyond major urban centres into Tier II, Tier III, and rural locations. Background: The Distribution Gap in Corporate Bonds India's corporate bond mark

The Insolvency and Bankruptcy Board of India (IBBI) has strengthened disclosure norms in the Corporate Insolvency Resolution Process (CIRP) through the Fifth Amendment to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Effective from July 4, 2025, the amendment mandates that resolution professionals disclose all identified avoidance transactions in the information memorandum (IM) before it is shared with the committee of creditors (CoC) and p

The Securities and Exchange Board of India (SEBI) has revised the framework governing the utilisation of income earned from the Investor Protection Fund (IPF) maintained by depositories. The circular, bearing reference number HO/47/14/13(4)2026-MRD-POD3/I/15577/2026 and dated July 7, 2026, came into effect on September 1, 2026. Under the revised norms, depositories may now utilise up to 5 percent of the annual interest or income generated from IPF investments for specified ad

The Competition Commission of India (CCI) has notified the Competition Commission of India (Commitment) (Amendment) Regulations, 2026, dated August 18, 2026, introducing significant changes to the commitment and settlement framework under the Competition Act, 2002. The most notable amendment extends the filing window for commitment applications from 45 days to 60 days from the date of receipt of the CCI's investigation report, and increases the total timeline for the commitme

The Securities and Exchange Board of India (SEBI) has issued a consultation paper dated August 27, 2026, proposing to exempt certain eligible listed issuers from the mandatory requirement to appoint a merchant banker when raising debt through private placement. The exemption would apply to debt securities and non-convertible redeemable preference shares issued at a face value of Rs 10,000, subject to four eligibility conditions. Public comments on the proposal are invited unt

The Securities and Exchange Board of India (SEBI) has released a consultation paper proposing a fundamental restructuring of the Online Dispute Resolution (ODR) framework for the Indian securities market. The proposed changes would transfer the administrative control of investor grievance resolution from dedicated, independent ODR institutions to Market Infrastructure Institutions (MIIs), which include stock exchanges (BSE, NSE), depositories (NSDL, CDSL), and clearing corpor

The Securities and Exchange Board of India (SEBI) has issued a consultation paper dated August 21, 2026, proposing a comprehensive overhaul of the advertisement code applicable to Online Bond Platform Providers (OBPPs). The proposed framework seeks to prohibit the use of terms such as "high yield" and "high returns" in bond advertisements, ban celebrity endorsements, and curb messaging that creates artificial urgency or scarcity. Public comments on the consultation paper are

On 10 July 2026, SEBI notified the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2026, via Notification No. SEBI/LAD-NRO/GN/2026/312. The amendment restructures how listed entities handle the transfer and transmission of securities, mandating direct dematerialised credit and retiring the intermediate Letter of Confirmation (LOC) mechanism that had been in use since 2019. These changes, effective from t

SEBI's settlement mechanism allows entities facing enforcement proceedings to resolve matters by paying a settlement amount instead of contesting the charges through a full adjudication. This guide explains the current process under the SEBI (Settlement Proceedings) Regulations, 2018, and flags the key changes proposed under the draft 2026 regulations. Step 1: Determine Whether Your Matter Is Eligible for Settlement Settlement is available for most SEBI enforcement proceeding

What the Consultation Paper Proposes The Securities and Exchange Board of India (SEBI) released a consultation paper on August 14, 2026, proposing the Securities and Exchange Board of India (Settlement of Proceedings) Regulations, 2026, which would completely replace the existing Settlement Proceedings Regulations, 2018. Public comments are invited until September 4, 2026. The stated objective is to reduce litigation, provide an alternative mode of resolution, and enhance cla

Who Needs to Comply and When The SEBI Cybersecurity and Cyber Resilience Framework (CSCRF), issued on August 20, 2024, applies to all SEBI-regulated entities (REs) operating in the Indian securities market. This includes stock exchanges, clearing corporations, depositories, stock brokers, depository participants, mutual funds and AMCs, portfolio managers, alternative investment funds (AIFs), investment advisers, research analysts, registrars and transfer agents, KYC registrat

Corporate fraud in India has grown in both scale and sophistication. From financial statement manipulation to fund diversion and related party abuse, fraudulent schemes demand rigorous investigation. A forensic audit is the cornerstone of such investigations, combining accounting expertise, legal knowledge, and investigative technique to uncover fraud, quantify losses, and produce evidence that stands up in court. This guide provides a step-by-step framework for conducting fo

Every listed entity in India must formulate a policy governing related party transactions (RPTs) as mandated by Regulation 23(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR). The policy defines what constitutes a related party, sets materiality thresholds, prescribes the approval mechanism through the audit committee and shareholders, and establishes ongoing monitoring and disclosure requirements

The Ministry of Corporate Affairs (MCA), on May 27, 2026, notified the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2026, introducing significant changes to how companies may discharge their CSR obligations under Section 135 of the Companies Act, 2013. The most notable change is the introduction of a new Rule 4A, which for the first time permits companies to route a portion of their CSR expenditure through the Social Stock Exchange (SSE) ecosystem by su

Internal Financial Controls (IFC) testing is a statutory obligation embedded in the Companies Act, 2013 through two key provisions. Section 134(5)(e) requires the board of directors to confirm in the Board Report that they have laid down internal financial controls and that such controls are adequate and operating effectively. Section 143(3)(i) requires the statutory auditor to report on whether the company has adequate internal financial controls with reference to financial