Insurance will soon have a new accounting standard. Synopsis The National Financial Reporting Authority (NFRA) has made recommendations to the Ministry of Corporate Affairs (MCA) on the Indian Accounting Standard (Ind AS) 117 for insurance contracts, he told ET.”The NFRA’s recommendations are being considered.” “The standards will be published soon under the Companies (Indian Accounting Standards) Rules 2015,” he noted. According to a senior government source, the government will shortly declare a new accounting standard […]

E-commerce is allowing MSMEs to expand globally. Fintech companies must constantly re-strategize in order to meet customers’ ever-changing needs. At the same time, these enterprises must guarantee that consumers’ payment experiences remain safe, simple, and frictionless, according to Chandni Nihalani, Director, PayPal India. According to her, technological innovations such as the Open Network for Digital Commerce (ONDC) not only offer firms with a platform for safe commerce but also assist in effectively serving the financing […]

Brokers disagree with Sebi’s term of a “fit and proper person.” Synopsis The division bench of Justice GS Patel and Justice Dr Neela Gokhale has instructed the capital markets regulator to submit its answer in the issue by July 20, and the case has been postponed until August 2 for further hearing. In the Bombay High Court, more than a half-dozen firms, including big-league domestic brokerages Motilal Oswal Financial Services (MOFSL) and Anand Rathi Shares […]

Sebi proposes a unified cyber security framework. Synopsis Sebi has produced a consultation paper titled ‘Consolidated Cyber Security and Cyber Resilience Framework (CSCRF) for Sebi Regulated Entities’, which aims to provide a common framework for diverse approaches to cyber security in order to reduce cyber-risks/incidents. Sebi, the market regulator, has suggested a streamlined cyber security and cyber resilience framework in which all regulated businesses must have an up-to-date cyber crisis management strategy. The framework has […]

All listed firms are subject to the trading restriction mandate: Sebi Synopsis Such a closure would be enforced on the securities to which the UPSI pertains. When the trading window is closed, designated people and their immediate relatives are not permitted to deal in securities. Mumbai: The Securities and Exchange Board of India (Sebi) said on Wednesday that the ability to freeze specified people’ permanent account numbers (PANs) during trading window closure for financial results […]