TMI BlogSecurities and Exchange Board of India (Investment Advice by Intermediaries) (Amendment) Regulations, 2001.X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. After regulation 16 anew regulation16A shall be inserted as under 16A. Appointment of Compliance Officer ( 1) Every banker to an issue shall appoint a compliance officer who shall be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines, instructions etc issued by the Board or the Central Government and for redressal of investors' grievances. (2) The compliance officer shall immediately and independently report to the Board any non-compliance observed by him. 2. In Schedule III, after clause (7), a new clause (8) shall be inserted as under (8)(a) A banker to an issue or any of his employees shall not render, directly or indirectly, any investment advice about any security in the publicly accessible media, whether real - time or non real-time, unless a disclosure of his interest including long or short position in the said security has been made, while rendering such advice. (b) In case, an employee of the banker to an issue is rendering such advice, he shall also disclose the interest of his dependent family members and the employer including their long or short position i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest including long or short position in the said security has been made, while rendering such advice. (b) In case, an employee of the custodian of securities is rendering such advice, he shall also disclose the interest of his dependent family members and employer including their long or short position in the said security, while rendering such advice. Securities and Exchange Board of India,(Debenture Trustees) Regulations, 1993 1. After regulation 17 a new regulation17A shall be inserted as under 17A. Appointment of Compliance Officer (1) Every debenture trustee shall appoint a compliance officer who shall be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines, instructions etc issued by the Board or the Central Government and for redressal of investors' grievances. (2) The compliance officer shall immediately and independently report to the Board any non-compliance observed by him. 2. In Schedule III, after clause (7) another clause (8) shall be inserted as under (8) (a) A debenture trustee or any of his employees shall not render ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osition in the said security has been made, while rendering such advice. (2) In case, an employee of the Foreign Institution Investor is rendering such advice, he shall also disclose the interest of his dependent family members and the employer including their long or short position in the said security, while rendering such advice. 2. After regulation 19 a new regulation19A shall be inserted as under 19A. Appointment of Compliance Officer (1) Every Foreign Institutional Investor shall appoint a compliance officer who shall be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines, instructions etc issued by the Board or the Central Government. (2) The compliance officer shall immediately and independently report to the Board any non-compliance observed by him. Securities and Exchange Board of India, (Merchant Bankers) Regulations, 1992 1. After regulation 28 a new regulation 28A shall be inserted as under 28A. Appointment of Compliance Officer (1) Every merchant banker shall appoint a compliance officer who shall be responsible fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been made, while rendering such advice. (b) In case, an employee of the sponsor, the trustees or the asset management company is rendering such advice, he shall also disclose the interest of his dependent family members and the employer including their long or short position in the said security, while rendering such advice. Securities and Exchange Board of India, (Portfolio Managers) Regulations, 1993 1. After regulation 23 a new regulation 23A shall be inserted as under 23A. Appointment of Compliance Officer (1.) Every portfolio manager shall appoint a compliance officer who shall be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines, instructions etc issued by the Board or the Central Government and for redressal of investors' grievances. (2.) The compliance officer shall immediately and independently report to the Board any non-compliance observed by him 2. In Schedule III, after clause (10) a new clause (11) shall be inserted as under (11) (a) A portfolio manager or any of his employees shall not render, directly or indirectly any invest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Board or the Central Government and for redressal of investors' grievances. (2) The compliance office/ shall immediately and independently report to the Board any non-compliance observed by him. (3.) In Schedule II,(i) Under the head CODE OF CONDUCT FOR STOCK BROKERS , after clause B (7) a new clause (7A) shall be inserted as under (7A) Investment Advice in publicly accessible media (a) A stock broker or any of his employees shall not render, directly or indirectly, any investment advice about any security in the publicly accessible media, whether real - time or non real-time, unless a disclosure of his interest including the interest of his dependent family members and the employer including their long or short position in the said security has been made, while rendering such advice. (b) In case, an employee of the stock broker is rendering such advice, he shall also disclose the interest of his dependent family members and the employer including their long or short position in the said security, while rendering such advice. (ii). Under the head CODE OF CONDUCT FOR SUB-BROKERS , after clause B (7) a new clause (7 A) shal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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