Business

Amended insider trading rules for MFs to be effective from November 1

The Sebi has notified that amended insider trading rules for mutual funds will come into effect from November 1.

“The board hereby appoints November 1, 2024, as the date on which the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2022 shall come into force,” the gazette notification said.

The amended rules will require mutual funds to maintain a list of employees and individuals, known as “designated persons”, who can have access to unpublished price sensitive information. Designated persons are required to disclose the details of their holdings in the units of mutual fund schemes.

“Lists of all employees and other persons with whom unpublished price sensitive information is shared shall be maintained and confidentiality agreements shall be signed or notice shall be served to all such employees and persons,” according to the amended rules.

Experts said the amended rules will help bring in transparency within the AMCs and add an additional layer of security.

As per the norms, designated persons and their immediate relatives shall be governed by an internal code of conduct overseeing dealings in units of the mutual fund.

The amendment to the rules followed the episode at Franklin Templeton where a few executives were accused of selling their mutual fund units ahead of the fund house’s six debt funds shutting for redemption.

Related Posts

Daub Alderney Limited hit with £5.85 million Gambling Commission fine

In the United Kingdom and the Gambling Commission regulator has ordered online casino operator Daub Alderney Limited to pay a £5.85 million ($8.06 million) fine for breaches of its social responsibility and anti-money laundering procedures.

Daub Alderney Limited was purchased by British land-based gaming behemoth Rank Group in October of 2019 as part of an arrangement worth approximately £115 million ($158 million) and is now responsible for a plethora of iGaming domains including the likes of SpinAndWin.com, KittyBingo.com, RegalWins.com, Aspers.com, LuckyVIP.com, MagicalVegas.com and LuckyPantsBingo.com.

Historical infractions:

The Gambling Commission used an official press release to proclaim that the operator has also been issued with a ‘formal warning’ regar…

Entain Publishes 2023 Financial Report, Net Loss of £936,5m Recorded Due to Increased Expenses Because of Settlement

Entain published its 2023 financial report, and according to it, the company experienced a net loss of £936,5m (€1,09bn/$1,19bn). The main reason for this is an increase in its expenses, mostly due to the UK settlement with His Majesty’s Revenue and Customs (HMRC) and the Crown Prosecution Service (CPS). However, the gaming revenue increased by 11,1%.

Increased expenses: 

In 2023, net gaming revenue was £4,83bn. Other segments of business also recorded an increased revenue, including group revenue which was £4,77bn, 11% more than in 2022.

However, because of the settlement, th…

NetBet to host Relax Gaming online casino content via iSoftBet game aggregation platform

Online casino NetBet will be hosting all of Relax Gaming’s proprietary, Powered by Relax and Silver Bullet content, after adding the operator to its growing roster of partners. The deal gives the B2B multi-product provider a leg up in Romania and Germany, two markets where NetBet is among the most popular operators.

Made possible by iSoftBet’s Game Aggregation Platform (GAP), the integration enables NetBet Casino players in both European countries to access the supplier’s range of titles, such as the award-winning Money Train 2, the hit sequel to the wildly popular 2019 original, the blinged-out canine-inspired Top Dawg$ and Volatile Vikings, which was released in September and offers potential wins of up to 20,000 times the bet!

Frui…

Entain and Playtech Debut Live Gameshow “The Chase”

Global sports betting and gaming group built on proprietary technology, Entain, has announced the exciting launch of a brand new live gameshow with support from the leading platform, content, and services provider in the online gambling industry, Playtech.

The Chase, which is the name of the new game, follows the proven model carried by the iconic ITV gameshow that constantly gathers a daily UK viewership of roughly four million

Described as “a quiz with a difference,” the TV gameshow reunites four contestants who need to “pit their wits against the Chaser, a ruthless quiz genius” determined to prevent them from w…

เกมมือถือน่าเล่นประจำสัปดาห์นี้ (28 มิถุนายน 2567)

กลับมาพบกันอีกเช่นเคยกับ‘เกมมือถือน่าเล่นประจำสัปดาห์’ที่ This is Game รวบรวมเกมมือถือทั่วโลกทั้งโซนตะวันตก, จีน, ญี่ปุ่น ไปจนถึงเกาหลี นำมาฝากท่านผู้อ่านคอเกมมือถืออีกเช่นเคย ส่วนในสัปดาห์นี้จะมีเกมมือถืออะไรน่าดาวน์โหลดมาเมื่อยนิ้วกันบ้าง ถ้างั้นไปเราไปดูพร้อมกันเลยดีกว…

เกมเมอร์เรียกร้องให้ออกกฎหมายคุ้มครองผู้เล่นเกม

ในปีที่ผ่านมามีเกมจำนวนมากถูกปิดเซิร์ฟเวอร์หรือไม่สามารถเล่นได้ เนื่องจากเกมเหล่านั้นจำเป็นต้องเชื่อมต่ออินเทอร์เน็ต หรือแย่กว่านั้นคือสามารถเล่นได้แบบออนไลน์เท่านั้น โดย Ross Scott ยูทูบเบอร์ชื่อดังและผู้สนับสนุนการอนุรักษ์เกม ได้ตัดสินใจออกมาแก้ไขปัญหานี้ด้วยตัวเอง

Scott เป็นท…