sebi’s casual steering scheme: Sebi discontinues price fee through demand draft

New Delhi: Capital markets regulator Sebi on Tuesday stated it’s going to now not settle for demand drafts in regards to the price charged for requesting casual steering about applicability of guidelines. Now, the regulator will settle for the price by means of direct credit score into its checking account.

Sebi’s Casual Steerage Scheme permits sure entities to request for casual steering relating to the applicability of legal guidelines and laws administered by the markets regulator within the type of “No Motion Letters” or “Interpretive Letters” from the markets watchdog.

In a press release, Sebi stated that it has been determined to dispose of the acceptance of a requirement draft with respect to the price charged for making a request underneath the scheme. Accordingly, the regulator stated that the request underneath the casual steering “shall be accompanied with a price of Rs 25,000 by means of direct credit score into the checking account of the board by means of NEFT/RTGS/IMPS or on-line fee utilizing the Sebi fee gateway”. To present this impact, the Securities and Change Board of India (Casual Steerage) Scheme has been amended.