SEBI extends deadline for public comments on ‘social stock exchange’ report till Aug 15


PTI, Jul 14, 2020, 9:29 PM IST

New Delhi: In view of the situation arising due to the COVID-19 pandemic, markets regulator SEBI on Tuesday extended the deadline till August 15 for sending public comments on a report on a social stock exchange which allows for direct listing of non-profit organisations.

This is the second time that the deadline for receiving public comments has been extended. The initial deadline was June 30, which was extended to July 15 by the regulator.

“Subsequently, SEBI has received representation seeking further extension of the timeline for submission of comments due to COVID-19 pandemic. It has been decided to extend the timeline for seeking public comments to August 15, 2020,” the regulator said on Tuesday while providing a format for sending comments.

Social Stock Exchange (SSE) is a novel concept in the country and such a course is meant to serve private and non-profit sector providers by channelling greater capital to them.

A SEBI-appointed panel on SSE had submitted its report to the watchdog. The working group was set up by SEBI in September 2019 under the chairmanship of Ishaat Hussain, director at SBI Foundation and former finance director at Tata Sons.

The group suggested possible structures and regulations for creating SSE to facilitate listing and fund-raising by social enterprises as well as voluntary organisations.

Direct listing of non-profit organisations through the issuance of bonds and a range of funding mechanisms, which include some of the existing mechanisms such as Social Venture Funds (SVFs) under the Alternative Investment Funds, has been recommended by the panel.

A new minimum reporting standard has also been proposed for organisations which would raise funds under the SSE.

The SSE can be housed within the existing stock exchange such as the BSE and/or National Stock Exchange (NSE). This would help the SSE leverage the existing infrastructure and client relationships of the exchanges to onboard investors, donors, and social enterprises (for-profit and non-profit), as per the report.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

2 detained for killing tailor in Rajasthan’s Udaipur

Stinking toilets on trains: Railways deploys senior officials for inspection

Taapsee Pannu on teaming up with SRK in ‘Dunki’: It’s a golden opportunity

Eoin Morgan retires, draws curtains on glorious international career

Udupi: Youth enacts kidnap drama to extort Rs 5 Lakhs; ends up behind bars

Tailor murdered over ‘insult to Islam’, tension in Udaipur

No hike in electricity tariff for consumers for now: Min Sunil Kumar issues clarification


Related Articles More

Opposition-ruled states demand continuation of GST compensation

Mukesh Ambani resigns from Jio, son Akash made chairman

NAA finds L’Oreal guilty of profiteering Rs 186 cr

Japan’s Toshiba shareholders approve 13 nominations to board

Govt approves investment proposals worth Rs 86,824 crore for electronics manufacturing

MUST WATCH

Bride breaks down after receiving wax statue of her late father as a gift. Video divides Internet

House Caught Fire at Kumta

Major Road Mishap at Hunasur, 1 killed and 4 injured

Vijayapura And Dotihal Tradition : farmers Celebrating Amavasya

Khadar speaks about developmental activities


Latest Additions

Zubair’s ‘objectionable’ tweet of 2018 led to Twitter storm with ‘hate’ speeches: Delhi Police

2 detained for killing tailor in Rajasthan’s Udaipur

Maha CM Thackeray chairs cabinet meeting, first after taking away rebel ministers’ portfolios

Stinking toilets on trains: Railways deploys senior officials for inspection

Taapsee Pannu on teaming up with SRK in ‘Dunki’: It’s a golden opportunity

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.