SEBI proposals on trading

THE Securities and Exchange Board of India (SEBI) has announced a number of moves that could have a bearing on the interest of investors and trading.

Some of the proposals that have been mooted are:

*The concept of no-delivery period is to be abolished for dividend and bonus offers.

*The abolition of the concept for rights issues would be considered soon.

*The companies would be required to make announcements of dividend, bonus, rights and material events within 15 minutes of the conclusion of the board meeting in which the decision was taken by the company.

*The minimum continuous listing requirements of 10 per cent or 25 per cent has to be maintained at all times rather than at the time of listing.

*The introduction of index options by stock exchanges has been cleared by SEBI.

*The SEBI has decided to reduce the period between two book closures from 90 days to 30 days.

*All stock exchanges would be required to implement the mandatory client code requirement by January 1, 2001.