SEBI’s Move Enhances Transparency in Private Placement of Non-convertible Securities

Promoting Investor’s Confidence:

SEBI’s move enhances transparency in private placement of Non-Convertible Securities

PROMOTING INVESTOR’S CONFIDENCE: SEBI’S MOVE ENHANCES TRANSPARENCY IN PRIVATE PLACEMENT OF NON-CONVERTIBLE SECURITIES

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SEBI’s Move Enhances Transparency in Private Placement of Non-convertible Securities

Published on Jul 11, 2023

SEBI vide Notification No. SEBI/LAD-NRO/GN/2023/135, Dated July 3, 2023, has notified the SEBI (Issue & Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2023, bringing significant changes to the existing regulations. These amendments aim to enhance transparency, accountability & investor protection in the securities market. The key highlights of the amendment include the insertion of definitions of ‘Key Managerial Personnel’ & ‘Senior Management’, streamlining the roles & responsibilities within companies. Additionally, SEBI has merged disclosure requirements for public issues & private placements, simplifying the process for issuers. To ensure comprehensive disclosures, a new chapter has been introduced for issuers making private placements of non-convertible securities, emphasizing the filing of general information documents & subsequent key information documents. This promotes transparency & provides investors with timely information. The amendments shall be effective from 03.07.2023

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SEBI’s Move Enhances Transparency in Private Placement of Non-convertible Securities by Taxmann - Issuu