For the unversed, Sebi has shortened the settlement cycle to trade day-plus-one (T+1) from T+2 in January this year. The regulator also announced that it would move to a T+1 settlement cycle for all scrips, effective October 1, 2023.
In a consultation paper, SEBI has suggested that senior management of AMCs should be responsible to ensure that an institutional mechanism is put in place to detect and report possible misconduct by its employees, dealers, stock brokers or any other connected entities.
The apex court has asked the regulator to submit its report on August 14. Earlier this week, the Sebi sought six more months time from the SC to complete its probe into the allegations.