Supreme Court Advocates for Childcare and Feeding Rooms in Public Spaces

Image
Supreme Court Advocates for Childcare and Feeding Rooms in Public Spaces The Supreme Court of India has suggested that the Union Government develop a comprehensive policy addressing the construction of feeding rooms and childcare facilities  in public places. This move aims to ensure that nursing mothers and their children can access basic amenities in a dignified and private manner, reinforcing their fundamental rights under the Indian Constitution. SC Encourages Policy Formulation A bench comprising Justice BV Nagarathna  and Justice N Kotiswar Singh  highlighted the absence of a structured framework to address this pressing issue. The court advised the Centre to propose a policy that could then be implemented across the states, scheduling the next hearing for December 10, 2024.   The apex court emphasized that before issuing formal directions, it was crucial to understand the Centre’s perspective on implementing the petitioner’s demand for childcare and feedi...
Post a Comment

SEBI's New Guidelines to Curb Misuse of Real-Time Share Price Data

SEBI's New Guidelines to Curb Misuse of Real-Time Share Price Data



The Securities and Exchange Board of India (SEBI) has introduced stringent new regulations aimed at controlling the sharing of real-time share price data with third parties, including various online platforms. These measures are designed to prevent the misuse of such data, particularly by online gaming platforms, apps, and websites that offer virtual trading services or fantasy games based on the real-time movements of share prices of listed companies.


SEBI's Observations and Concerns


SEBI has observed a growing trend where certain online gaming platforms and apps provide virtual trading services or fantasy games that rely on real-time share price movements. Some of these platforms even offer monetary incentives based on the performance of virtual stock portfolios, which raises concerns about the potential misuse of sensitive market data.


Key Guidelines Issued by SEBI


To address these issues, SEBI has issued several guidelines to Market Infrastructure Institutions (MIIs), which include stock exchanges, clearing corporations, and depositories, as well as registered market intermediaries. These guidelines are as follows:


1. Restriction on Data Sharing: MIIs and market intermediaries must ensure that real-time price data is not shared with any third party unless it is necessary for the proper functioning of the securities market or for regulatory compliance. This aims to prevent the misuse of data for purposes other than those intended to support the orderly functioning of the market.


2. Formal Agreements: Entities that intend to share real-time price data must enter into formal agreements that clearly outline the activities for which the data will be used. These agreements must ensure that the use of data supports the orderly functioning of the securities market. The list of entities and activities permitted to use this data must be reviewed annually by the board of the MIIs or intermediaries.


3. Delayed Data for Education: Market price data can be shared for investor education and awareness purposes without any monetary incentives, but this data must be delayed by one day. This provision ensures that the data is used constructively while minimizing the risk of real-time manipulation.


4. Due Diligence and Preventive Measures: MIIs and intermediaries are required to conduct due diligence when sharing data and include provisions in agreements to prevent misuse. They must also take all possible steps to prevent the misuse of price data by entities that receive it.


Implementation Timeline


The new guidelines will come into effect 30 days after the issuance of the circular, providing sufficient time for MIIs and intermediaries to comply with the new requirements.


Legal Framework


The new regulations by SEBI align with the broader framework of the Securities Contracts (Regulation) Act, 1956, and the SEBI Act, 1992, which empower SEBI to regulate securities markets and protect investor interests. The guidelines also complement existing regulations under the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003, which aim to curb fraudulent activities in the market.


By introducing these measures, SEBI reinforces its commitment to maintaining market integrity and protecting investors from potential abuses stemming from the unauthorized use of real-time market data. The focus on formal agreements and delayed data for educational purposes ensures a balanced approach that fosters investor awareness without compromising market security.

Location: Pune, Maharashtra, India

Comments

Post a Comment

Popular posts from this blog

Supreme Court Reinforces Due Process: Curbing “Bulldozer Justice” with Strict Guidelines

Image
Supreme Court Reinforces Due Process: Curbing “Bulldozer Justice” with Strict Guidelines Background In a significant judgment, the Supreme Court of India has set out guidelines to curb arbitrary demolitions, commonly referred to as "bulldozer justice." This term has emerged from instances where properties of individuals accused of crimes have been demolished without following due legal process. The ruling responds to several petitions highlighting the destruction of residential and commercial properties without prior notice, which, according to petitioners, targets marginalized and minority communities. Key Principles Addressed The Supreme Court’s decision rests on critical constitutional principles, particularly the rule of law, separation of powers, and protection of individual rights . The Court emphasized that no person should be punished without due process and that arbitrary action by the executive undermines citizens’ trust in the justice system. Justice Gavai, in del...
Read more

Delhi High Court Grants Bail to Former Bank Manager Accused of Defrauding Woman of ₹13 Crores

Image
Delhi High Court Grants Bail to Former Bank Manager  Accused of Defrauding Woman of ₹13 Crores  The Delhi High Court has granted bail to Varun Vashista , a former bank manager accused of embezzling over ₹13 crores from a customer’s account while working at ICICI Bank's Vikas Puri branch. The bail was approved by Justice Amit Mahajan on November 12, 2024, after considering the evidence and facts of the case.   Details of the Case The allegations against Vashista stem from his role as a branch manager. The complainant and her husband had entrusted him with managing their investments, amounting to ₹13.5 crores, between 2019 and 2023.   The complainant discovered in January 2024 that nearly ₹12 crores had been **siphoned off** from her account. Key allegations include:   - Creation of Fake Fixed Deposits: The accused reportedly created fraudulent fixed deposit accounts in the complainant’s name.   - Misappropriation of Funds: Funds were tr...
Read more

Equality Before Law

Image
                            Equality Before Law                                                   Introduction The rule of law was firstly introduced by A.V. Dicey in  his book "The Constitution Of England" in which there is rule which only prevails is law in which all are equal. In simple word if any wrong is being done which is not justifiable  by law committed by anyone that may be president, prime minister, or any individual are punishable because there is supremacy of law. Supremacy of law means the government which is power or the people who elected the government all will be treated equally before law.  Article 14 The Indian Constitution 1949, Article 14 guarantees "Equality before law The State shall not deny to any person equality before the law or the...
Read more