Sebi writes to states on employee exemption
MUMBAI: Markets regulator Sebi has written to chief secretaries of all the states to allow people working with Sebi-registered entities to commute freely during the current nationwide curfew.
Late on Tuesday, Sebi had come out with a notification with a list of entities that would be covered under home ministry’s list of exempted entities during the 21-day lockdown. “Sebi has written to chief secretaries, administrators of all states and union territories, requesting them to facilitate the functioning and movement of personnel of entities notified by Sebi for the smooth operation of the capital markets,” a Sebi spokesperson said.
On Tuesday, after the Prime Minister announced the lockdown for three weeks, the home ministry had issued a notification about the entities and people who would be exempt from the stringent measures by local authorities.
The order said Sebi-registered entities and people would be exempt from the lockdown under the Sebi notification. Subsequently, Sebi issued an order in the intervening night of Tuesday and Wednesday. The notification included stock exchanges, clearing corporations, depositories, custodians, mutual funds, brokers and other allied service providers and people working for these entities.
However, brokers said their employees from several states faced difficulties to reach their offices or carry out their duties because not all state governments had issued notifications that exempted the entities and people included in the Sebi notification. “Stock market operations are to be in line with the orders of the government of India and state governments and Sebi notifications,” the regulator said.
Late on Tuesday, Sebi had come out with a notification with a list of entities that would be covered under home ministry’s list of exempted entities during the 21-day lockdown. “Sebi has written to chief secretaries, administrators of all states and union territories, requesting them to facilitate the functioning and movement of personnel of entities notified by Sebi for the smooth operation of the capital markets,” a Sebi spokesperson said.
On Tuesday, after the Prime Minister announced the lockdown for three weeks, the home ministry had issued a notification about the entities and people who would be exempt from the stringent measures by local authorities.
The order said Sebi-registered entities and people would be exempt from the lockdown under the Sebi notification. Subsequently, Sebi issued an order in the intervening night of Tuesday and Wednesday. The notification included stock exchanges, clearing corporations, depositories, custodians, mutual funds, brokers and other allied service providers and people working for these entities.
However, brokers said their employees from several states faced difficulties to reach their offices or carry out their duties because not all state governments had issued notifications that exempted the entities and people included in the Sebi notification. “Stock market operations are to be in line with the orders of the government of India and state governments and Sebi notifications,” the regulator said.