SEBI moots concept of ‘accredited investor’

Regulator SEBI on Wednesday sought comments on the proposal to introduce the concept of ‘accredited investors’ in the Indian securities market. The comments can be sent to the regulator in a prescribed format latest by March 18, it said in a consultation paper. SEBI noted that accredited investors, also called qualified investors or professional investors, … Read more

China launches an antitrust investigation into Alibaba as its crackdown on Jack Ma’s tech empire continues

Chinese regulators announced measures to crack down on Jack Ma’s Alibaba and Ant Group on Thursday. Beijing will investigate e-commerce site Alibaba, co-founded by Ma, over alleged anti-monopolistic practices, and urge fintech Ant Group to implement stricter financial regulations, regulators said. Ant Group’s IPO, which would have been the world’s biggest-ever, was halted in November … Read more

Warren Buffett looks to Japan, takes 5% stakes in five trading companies

Berkshire said it acquired its stakes in Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co and Sumitomo Corp over approximately 12 months Berkshire Hathaway Inc said it has acquired slightly more than 5% of the shares in five large Japanese companies, marking a departure for Chairman Warren Buffett as he looks outside the United … Read more

SEBI rejects lenders claims in Karvy matter

Previously, on SEBI instructions the depositories had transferred back securities worth Rs 2000 crore to their rightful owners. The lenders (Bajaj Finance, ICICI Bank, HDFC Bank, IndusInd Bank) had then approached the Securities Appellate Tribunal (SAT) challenging the transfer as the subject securities were pledged with them by Karvy. SAT further directed the lenders to … Read more

87% of impacted Karvy clients get back their pledged shares

This came as a huge relief to more than 82,000 clients of Karvy getting back shares estimated at Rs 2,000 crore. Over last few days, there has been a huge uncertainty around what would happen to the shares fraudulently pledged by Karvy (belonging to its clients) to banks and the finance companies to obtain funds … Read more