The chairman and the board of directors of the Bombay Stock Exchange (BSE) have appointed Ashishkumar Chauhan as the managing director & chief executive officer of the exchange. Chauhan is currently working as an interim CEO of the BSE. According to a release issued by the exchange, all regulatory approvals from the Securities Exchange Board of India (Sebi) have been received for Chauhans appointment.
BSE seeks extra caution by brokers to avoid flash crash
In the wake of an erroneous order that caused the flash crash of the National Stock Exchange (NSE) index Nifty last month, leading bourse Bombay Stock Exchange (BSE) has asked brokers to strictly adhere to due-diligence norms and be extra careful in placing orders. Asking member brokers to ensure that each order is placed within the prescribed limits, BSE has also reinforced the need for trading members to submit their compliance reports to the exchange on a quarterly basis.
Wipro issues 45 L RSUs to senior management
Wipro on Friday said it has issued restricted stock units (RSUs) to its senior management-level employees effective October 1. As part of its HR strategy based on a recurring two-year plan, the IT firm has issued 45 lakh RSUs to about 1,200 senior managers. As a retention mechanism,Wipro is one of the first companies in India to issue RSUs. In 2010 the company had issued a similar number of RSUs to a particular band of employees.
Another insider trading case involving Nomura
Nomura Holdings, Japans largest brokerage, said there is a strong possibility that it was involved in another insider-trading incident unveiled by the countrys securities watchdog on Friday. The Japanese Securities and Exchange Surveillance Commission said that Japan Advisory, a hedge fund advisory firm, traded shares of Elpida Memory before the company announced an equity offering in 2011, based on information from an unidentified underwriter. Nomura was one of the underwriters of that share sale.