To address these risks, the proposal related to regulation of influencers was approved in the meeting of the board of directors of SEBI.
SEBI said in a statement that the board of directors also introduced a framework for delisting of investment and holding companies (IHCs). SEBI has also suggested giving additional time for disclosure of the results of the board meeting.
Market regulator Sebi on Thursday approved norms for regulating financial influencers who provide financial information on internet media. The move comes amid growing concerns over the potential risks associated with non-regulated financial influencers. Such influencers, who usually work on a commission-based model, may also give biased or misleading advice to people.
These big decisions were made
To address these risks, a proposal related to regulation of influencers was approved in the meeting of the board of directors of SEBI. Along with this, the market regulator decided to introduce a fixed price process for delisting of frequently traded shares.
SEBI said in a statement that the board of directors also introduced a framework for delisting of investment and holding companies (IHCs). Apart from this, the regulator also approved the proposal to remove financial penalties on managing directors (MDs) and chief technology officers (CTOs) of stock exchanges and other market infrastructure institutions (MIIs) due to technical glitches.
Recommendation to combine pre-issue advertising and price band advertising
The market regulator also proposed to provide additional time for disclosure of litigation or disputes involving claims against listed firms and to allow companies to hold virtual or hybrid shareholder meetings on a permanent basis.
SEBI has also suggested providing additional time for disclosure of results of board meetings, which expire after business hours. Additionally, it has recommended combining the pre-issue advertisement and price band advertisement as a single advertisement.
