The securities markets are vital to the growth, development and strength of market economies and the maturity of an economy is decided based on the robustness of securities market of an economy. Considering that the Securities market is the core area of practice for many lawyers, Company Secretaries, and finance professionals, it becomes very important for the professionals to be fully aware of various laws and regulations, both for practice and guiding the Board of Directors on securities laws related matters. The securities market is governed by various regulations enacted in the course of time by the competent legislative body and regulating bodies.
This course provides an in depth analysis of the legal principles applicable to listed companies in addition to the Companies Act, 2013. The Regulatory Body Securities Exchange Board of India (SEBI) having extended SEBI’s jurisdiction over corporates in the issuance of capital and transfer of securities, during the course of time has come out with several regulations for smooth functioning of the market, thereby also giving paramount importance to the stakeholders. Therefore, this course discusses various legislative and regulatory guidance such as Securities Contracts (Regulation) Act, 1956, Depositories Act, 1996, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, etc.
In the era of plethora of legislations, rules, and regulations, corporate lawyers, Company Secretaries and finance professionals are expected to be well aware of these rules and principles, as these compliances make the functioning of the markets smooth while violations leads to severe penalties. This course is published to aid the students in learning Securities Laws and Capital Markets with ease. It takes the students step by step through each phase of preparation emphasizing key concepts, principles, legal fundamentals and procedures. Given the dynamism of law and the changing circumstances, this study material may, be regarded as the basic material and must be read alongwith the Bare Acts, Rules, Regulations, Case Laws.
Hope you enjoy this course!
- Lectures 36
- Quizzes 0
- Duration 60 hours
- Skill level All levels
- Language English
- Students 13
- Assessments Yes
Overview of Legal and Regulatory Framework
Stock Market plays a significant role in the development of Economy. Stock Market facilitates mobilization of funds from small investors and channelizes these resources into various development needs of various sectors of the economy. The Securities Contracts (Regulation) Act, 1956 (“SCRA”) is an important piece of legislation which regulates the stock exchanges and contracts in securities.
- Securities Contracts (Regulation) Act, 1956
- Securities and Exchange Board of India Act, 1992
- Depositories Act, 1996
- An Overview of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009
- An Overview of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- An Overview of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
- Mutual Funds
- Collective Investment Schemes
- SEBI (Ombudsman) Regulations, 2003
Securities Contracts (Regulation) Act, 1956
This chapter will give an insight into the various Powers of Central Government, Stock Exchange and SEBI under the SCRA Act, the penal provisions, procedures, offences, the procedure for appeal to SAT, Right of Investors and various listing and delisting provisions under Securities Contract (Regulations) Rules, 1957 etc.
Securities and Exchange Board of India Act, 1992
The objective of this chapter, is to provide a broader information regarding various powers and functions of SEBI, various stringent penalties for protecting the interest of investors and and inspection of various regulated entities, etc. to the students.
Depositories Act, 1996
The operational and functional issues relating to depository system have been discussed in this chapter to give an idea of the practical implications of various statutory and regulatory provisions.
An Overview of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009
The objective of this chapter is to discuss ICDR Regulations, at length, which provide detailed provisions relating to public issue such as conditions relating to an IPO and Further Public Offer (FPO), conditions relating to pricing in public offerings, conditions governing promoter’s contribution, restriction on transferability of promoter’s contribution, minimum offer to public, reservations, manner of disclosures in offer documents, etc.
An Overview of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
This chapter discusses SEBI Listing Regulations which lay down the broad principles for periodic disclosures to be given by the listed entities operating in different segments of the capital markets. The Listing Regulations have been structured to provide ease of reference by consolidating into one single document across various types of securities listed on the Stock Exchanges
This chapter will give an insight to the students into various methods of buy back available, prohibitions, objectives and process of buy back etc.
Collective Investment Schemes
Collective Investment Scheme are regulated by SEBI (Collective Investment Scheme) Regulations, 1999 which was notified on October 15, 1999. These regulations defines Collective Investment Management Company to mean a company incorporated under the Companies Act, 2013 and registered with SEBI under these regulations, whose object is to organize, operate and manage a collective investment. This chapter will give an overview of collective investment scheme, listing of schemes and its winding up etc.
SEBI (Ombudsman) Regulations, 2003
Ombudsman in its literal sense is an independent person appointed to hear and act upon citizen’s complaint about government services. In this chapter, a student will be able to know about SCORES, SEBI Ombudsman Regulations and Informal Guidance Scheme, etc.
Endnotes, References and Suggested Readings