The Securities Exchange Board of India (Sebi) took major decisions regarding financial influencers or finfluencers, company delisting, derivative trading and Alternative Investment Funds (AIF) in the board meeting on Thursday (June 27). SEBI has approved new rules to regulate finfluencers in the meeting. Now SEBI registered advisors will not be able to enter into an agreement with any finfluencers. Apart from this, some relaxation has also been announced in the delisting rules. Fixed price process has been approved for delisting. However, delisting will be approved only when shares have been purchased from at least 90% of the shareholders at the aggregate level. Along with this, the price fixed for delisting should be at least 15% more than the floor price. Not only this, SEBI has also given a big relief regarding Alternative Investment Funds (AIFs) in this board meeting. Now Category-1 and Category-2 AIFs will be allowed to borrow for 30 days. This means that AIFs will be able to borrow in case of shortage of funds when investors withdraw money. SEBI has also announced changes in the rules for entry and exit in the derivatives segment of shares in the meeting. The last change in the rules for entry in the derivatives segment was made in 2018. The proposal to create an optional mechanism for payment to SEBI registered advisors and analysts has also been approved. This payment mechanism is an attempt to create an ecosystem to improve investors’ trust in advisors and analysts. Additional disclosure rules for some university funds have also been relaxed.
