APRIL 2022/15/15.04.2022

1. Surrender of certificate of registration of BNP Paribas Mutual Fund
   Press release number – 12/2022
   Dated – 13.04.2022

BNP Paribas Assets Management Company Private Limited (BNPP AMC) had informed SEBI that they want to surrender the registration granted to BNP Paribas Mutual Fund by SEBI pursuant to change in control. BNPP AMC has also given an undertaking that the Surviving AMC (i.e. Baroda BNP Paribas Assets Management India Private Limited) & Surviving Trustee (Baroda BNP Paribas Trustee India Private Limited) shall continue to be liable for all liabilities/obligations (including monetary penalties, if any) for violations, if any, of the provisions of the SEBI Act that have taken place before its surrender of certificate of registration.

SEBI has accepted the request for surrender of certificate of registration of BNPP MF. Consequently, BNPP MF ceases to exist as a mutual fund w.e.f. April 13, 2022.

2. XBRL based filing of Statement of investor compliant under Regulation 13(3) for Listed Companies
   Notice number – 20220412-39
   Dated – 12.04.2022

With reference to Regulation 13(3) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”), the listed entities are required to submit, within 21 days from the end of each quarter, a statement giving the number of investor complaints  pending  at  the  beginning  of  the  quarter,  those  received during  the  quarter, disposed of during the quarter and those remaining unresolved at the end of the quarter.

With a view to making the disclosure more accurate and efficient, the Exchange in consultation with SEBI, is introducing a facility of filing of statement of redressal of investor grievance in XBRL mode under Regulation 13 (3) of “LODR Regulations” with immediate effect. Accordingly, it may be noted that, filings of statement of redressal of investor grievance under (Regulation 13 (3)) should be done by all listed companies, in XBRL mode only.

3. Compliance Function & Role of Chief Compliance Officer (CCO) – NBFCs
   Circular Number – RBI/2022-23/24 Ref.No.DoS.CO.PPG./SEC.01/11.01.005/2022-23
   Dated – 11.04.2022

A Revised Regulatory Framework for NBFCs’ issued vide Circular Ref.DOR.CRE. REC.No.60/03.10.001/2021-22 dated October 22, 20211. As indicated therein, Non-Banking Financial Companies in the Upper Layer (NBFC-UL) and Middle Layer (NBFC-ML) would be required, inter alia, to have an independent Compliance Function and a Chief Compliance Officer (CCO). Accordingly, this Circular shall be applicable to all NBFC-UL and NBFC-ML. NBFCs in the Base Layer (NBFC-BL) shall continue to be governed under the existing guidelines. As part of the overall structure for Corporate Governance, Compliance Function serves a critical role.

Accordingly, it has been decided to introduce certain principles, standards and procedures for Compliance Function in NBFC-UL and NBFC-ML, keeping in view the principles of proportionality.

NBFC-UL and NBFC-ML shall put in place a Board approved policy and a Compliance Function, including the appointment of a Chief Compliance Officer (CCO), based on the Framework given in the Annex, latest by April 1, 2023 and October 1, 2023, respectively. This Circular shall be placed in the immediate next meeting of the Board of Directors for information and devising an implementation strategy, under the Board’s supervision, in a time-bound manner.