SEBI Notifies Changes To RPTs, AIF, Portfolio Managers Regulations: ELP Analysis

The Legal Library section collates quality and in-depth reports on regulatory developments, court rulings and policy changes authored by India’s top law firms and consultants. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of law and policy..ELP Update.Certain regulatory changes to the framework for related party transactions (RPTs) and co-investment by investors of Alternative Investment Funds (AIFs) through portfolio management route have been notified by Securities and Exchange Board of India.Amendment to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Key changes include following:Change in definition of related party - Scope expandedAmendment to the definition of ‘related party transaction’Revised threshold for materiality of RPTPrior approval of the audit committee for RPTs and subsequent material modifications. Expanded scope of role of the audit committeePrior shareholders’ approval for RPTs and subsequent material modificationsExemption from the requirement of prior approval of the audit committee and shareholders for RPTs between two WOS;Disclosure of RPTsAmended role of the audit committee.Amendment to the SEBI (Alternative Investment Funds) Regulations, 2012 and SEBI (Portfolio Managers) Regulations, 2020: Key changes include following: Insertion of the definition of ‘co-investment’ and general investment conditions for co-investment Investment conditions for category III AIFs for investment in listed equities of companiesRestriction on advisory services by manager; and Changes to the portfolio managers regulations .Click on the attachment to read the full report:.DISCLAIMERThis alert does not constitute legal advice and is for information purpose only. This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

SEBI Notifies Changes To RPTs, AIF, Portfolio Managers Regulations: ELP Analysis

SEBI Notifies Changes To RPTs, AIF, Portfolio Managers Regulations: ELP Analysis

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