To facilitate ease of doing business, markets regulator Sebi on Tuesday came out with a simplified format for disclosure documents for portfolio managers.

The 'disclosure document' has been divided into two sections -- static and dynamic -- the Securities and Exchange Board of India (Sebi) said in its circular.

The dynamic section includes the content that undergoes frequent changes, whereas the static section includes disclosures that do not change frequently.

Under the static section, portfolio managers need to disclose on disclaimer clauses, definitions, description, penalties, pending litigation or proceedings, findings of inspection for which action may have been taken or initiated by any regulatory authority, services offered, risk factors, nature of expenses, taxation, accounting policies, investors services and details of the diversification policy of the portfolio manager.

Sebi amends ESOP rules for IPO-bound startups

In a big relief to startup founders looking to go public, Sebi has amended rules allowing them to retain Employee Stock options (ESOPs) granted at least one year before filing preliminary IPO papers.

"An employee who is identified as a 'promoter' or part of the 'promoter group' in the draft offer document filed by a company with the Board in relation to an IPO, and who was granted options, SAR (Stock Appreciation Rights) or any other benefit under any scheme at least one year prior to filing of the draft offer document, shall be eligible to continue to hold and/or exercise such options, SAR or any other benefit," Sebi said in a notification made public on Tuesday.

The new rule would facilitate founders who received ESOPs at least one year before the filing of draft papers to continue holding or exercising such benefits even after being specified as the promoter and the company becoming a listed entity.

Sebi notifies easier delisting rules for PSUs with 90% govt holding

Sebi has introduced special measures for voluntary delisting of PSUs, where the government owns 90 per cent or more stake, in a move aimed at streamlining the exit process.

Such measures include relaxations from the requirement of a two-thirds threshold for approving delisting by public shareholders and in the mode of computation of the floor price.  Also, such delisting can happen at a fixed price - at least 15 per cent premium over the floor price-- regardless of trading frequency.

Sebi amends InvITs rules

Sebi has notified rules to reduce  the minimum allotment lot in the primary market for privately placed infrastructure investment trusts (InvITs) to Rs 25 lakh, aligning it with the trading lot size in the secondary market.