Sebi bid to ease compliance for entities with listed NCDs – Times of India

NEW DELHI: Markets regulator Sebi on Friday proposed amendments to ease the compliance requirements for entities with listed non-convertible securities. This move will ease the cost of compliance for participants in the financial sector, as announced by govt in FY24 Budget.
In its consultation paper, Sebi proposed aligning the approval and authentication process for financial results of entities with listed non-convertible securities to that of equity-listed entities.This will streamline the procedures, ensuring that financial results are approved by board of directors and signed by a designated official, similar to the requirements for equity-listed entities.
Sebi also proposed to align the provisions of disclosure rules for fraud and default by key managerial personnel in entities with listed non-convertible securities with those applicable to equity-listed entities. According to the consultation paper, Sebi said it will also streamline the timeline for notifying the exchanges of record date by entities with listed non-convertible securities may be reduced from 7 to 3 working days. This proposal will provide ample time for market participants to respond.