Month: November 2025

SEBI REFORMS RELATED-PARTY TRANSACTIONS WITH TURNOVER-BASED THRESHOLDS AND DISCLOSURE TIGHTENING

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SEBI has notified the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2025 (“Amendment Regulations”), via Notification No. F. No. SEBI/LAD-NRO/GN/2025/273, dated 18 November 2025, with most provisions effective immediately and certain sub-regulations coming into force after 30 days. This amendment marks a notable strengthening of related party transaction … Read more

SEBI INTRODUCES INTERIM MECHANISM FOR DISCLOSURE OF PAST PERFORMANCE BY INVESTMENT ADVISERS AND RESEARCH ANALYSTS PRIOR TO OPERATIONALISATION OF PARRVA

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SEBI through its circular dated 30 October 2025 (HO/38/12/11(1)2025-MIRSD-POD/I/73/2025) (“Circular”), has introduced an interim framework enabling Investment Advisers (“IAs”) and Research Analysts (“RAs”) to communicate certified past performance data to clients for periods prior to the operationalisation of the Past Risk and Return Verification Agency (“PaRRVA”).  The Circular bridges the transition period until PaRRVA becomes … Read more

SEBI ENABLES INVESTMENT ADVISERS TO PROVIDE SECOND OPINION ON ASSETS UNDER PRE-EXISTING DISTRIBUTION ARRANGEMENTS

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SEBI through its circular dated 30 October 2025 (HO/38/12/11(1)2025-MIRSD-POD/I/71/2025) (“Circular”), has introduced a facilitative measure aimed at improving ease of doing business for registered Investment Advisers (“IAs”). In our article titled “SEBI ISSUES CONSULTATION PAPER FOR IMPROVING EASE OF DOING BUSINESS FOR IAs AND RAs” in the August 2025 Edition of ‘All Things Listed’, we … Read more

SEBI ISSUES INFORMAL GUIDANCE ON PLEDGE REVOCATION AND SUBSEQUENT SALE OF SHARES UNDER PIT REGULATIONS

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SEBI has issued an informal guidance letter dated 4th August 2025 to Welspun Corp Limited under the Securities and Exchange Board of India (Informal Guidance) Scheme, 2003, clarifying the applicability of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”) to a proposed transaction involving revocation of pledge and subsequent sale of shares (issued … Read more

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