SEBI Master Circular for Merchant Bankers Registered with SEBI
SEBI has come out with a Master Circular for Merchant Bankers for ease of stakeholders to have access to all information at one place. Merchant Bankers primarily focus on Management of Public Issue of Securities, Underwriting connected with the aforesaid Public Issue Management Business, Managing/advising on International Offerings of Debt/Equity i.e. GDR, ADR, bonds and other instruments, Private Placement of Securities, Primary or Satellite dealership of Government Securities, Corporate Advisory Services related to the Securities Market such as takeovers, acquisitions, disinvestment etc, Stock-broking, Advisory services for projects, Syndication of rupee term loans, International Financial Advisory Services etc.
The master circular covers Online Registration Mechanism for Merchant Bankers, Type of Activities and Deployment of Funds, Prior approval for change in control, Transfer / transmission of shareholding in case of unlisted Merchant Bankers, Transfer of business by SEBI registered intermediaries to other legal entity, Regulatory Compliance and Periodic Reporting, Disclosure of Track Record of the public issues managed by Merchant Bankers, Publishing Investor Charter and Disclosure of Complaints by Merchant Bankers on their Websites, Advisory for Financial Sector Organizations regarding Software as a Service (SaaS) based solutions, Prevention of circulation of unauthenticated news by SEBI Registered Market Intermediaries through various modes of communication etc among other things.
