Thursday, September 24, 1998
Dave committee calls for listing of collective investment schemes
The S A Dave committee on collective investment schemes has suggested that such schemes should be listed for generating liquidity in them. The committee is also expected to recommend that Sebi should be the sole regulatory authority for such companies.
Communication error costs Jardine $3 million
A Communication error seems to have given a hard blow to Jardine Fleming brokerage. Although no official comment could be elicited from the brokerage house, BSE sources explained that while the deal at the ITC counter gave a blow to the tune of $2.5 million, the loss at the Larsen counter a little less than $1 million.
Sebi expands mandatory paperless shares list for FIS
The Securities and Exchange Board of India (Sebi) has added another 125 securities to the list of 110 securities where institutions are required to trade only in the demat form. The new list will become effective on December 15. Sebi has also decided to examine how delivery of demat shares can be enhanced at stock exchanges by asking brokers to rectify bad delivery shares only by demat shares.
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