Financial Law

ASSIDUOUS LAW ASSOCIATES provides complete range of legal services to Financial system. Financial systemis basically a set of complex and closely interconnected financial institutions, markets, instruments, services, practices, and transactions. It is crucial to the system in a modern economy. They
channel household savings to the corporate sector and allocate investment funds among firms; they allow inter temporal smoothing of consumption by households and expenditures by firms; and they enable
households and firms to share risks. These functions are common to the financial systems of most developed economies.

LAWS APPLICABLE TO FINANCIAL MARKET

Various acts, rules, regulations, ordinances, guidelines, clarifications and press releases constitute the legal framework of Indian financial market. The main legislations governing the Financial Market in India are –
I. Acts
1) Negotiable Instruments Act, 1881
2) Reserve Bank of India Act, 1934
3) Banking Regulation Act, 1949
4) Securities Contracts (Regulation) Act, 1956
5) The Securities and Exchange Board of India Act, 1992 (SEBI Act)
6) Recovery of Debts Due to Banks and Financial Institutions Act, 1993
7) Depositories Act, 1996
8) Foreign Exchange Management Act, 1999
9) SARFAESI Act, 2002
10) Prevention of Money- Laundering Act, 2002
11) Credit Information Companies (Regulation) Act, 2005
12) Government Securities Act, 2006
13) Payment and Settlement Systems Act, 2007
14) Foreign Contribution (Regulation) Act (FCRA), 2010
15) Companies Act, 2013
II. Rules
1) The Securities Contract (Regulation) Rules, 1957
2) SEBI (Appeal to Central Government) Rules, 1993
3) SEBI (Procedure for holding inquiry and imposing penalties by adjudicating officer) Rules, 1995
4) SEBI Appellate Tribunal (Procedure) Rules, 1995
5) Depositories (Appeal to Securities Appellate Tribunal) Rules, 2000
6) Depositories (Procedure for holding Inquiry and Imposing ( Penalties by Adjudicating Officer) Rules, 2005
7) The Debts Recovery Tribunal (Procedure) Rules, 1993
8) The Debts Recovery Appellate Tribunal (Procedure) Rules, 1994
9) Security Interest (Enforcement) Rules, 2002
10) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011
III. Regulations
1) SEBI (Stock-brokers and Sub-brokers) Regulations, 1992
2) SEBI (Prohibition of Insider Trading) Regulations, 1992
3) SEBI (Merchant Bankers) Regulations, 1992
4) SEBI (Portfolio Managers) Regulations, 1993
5) SEBI (Underwriters) Regulations, 1993
6) SEBI (Debenture Trustees) Regulations, 1993
7) Securities and Exchange Board of India (Registrars to an
Issue and Share Transfer Agents) Regulations, 1993
8) SEBI (Bankers to an Issue) Regulations, 1994
9) SEBI (Foreign Institutional Investors) Regulations, 1995
10) SEBI (Depositories and Participants) Regulations, 1996
11) SEBI (Custodian Of Securities) Regulations, 1996
12) SEBI (Venture Capital Funds) Regulations, 1996
13) SEBI (Mutual Funds) Regulations, 1996
14) SEBI (Buy Back Of Securities) Regulations, 1998
15) SEBI (Credit Rating Agencies) Regulations, 1999
16) SEBI (Collective Investment Schemes) Regulations, 1999
17) SEBI (Foreign Venture Capital Investors) Regulations 2000
18) SEBI (Procedure for Board Meetings) Regulations, 2001
19) SEBI (Issue of Sweat Equity) Regulations, 2002
20) SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002
21) SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003
22) SEBI – Ombudsman Regulations 2003
23) SEBI (Central Database Of Market Participants) Regulations,2003
24) SEBI (Self Regulatory Organizations) regulations, 2004
25) SEBI (Interest Liability Regularisation) Scheme, 2004
26) SEBI (Certification of Associated Persons in the Securities
Markets) Regulations, 2007
27) SEBI (Intermediaries) Regulations, 2008
28) SEBI (Public Offer and Listing of Securitised Debt
Instruments) Regulations, 2008
29) SEBI (Issue and Listing of Debt Securities) Regulations,
2008
30) SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2009
31) Securities and Exchange Board of India (Delisting Of Equity
Shares) Regulations, 2009
32) SEBI (Substantial Acquisition of Shares and Takeovers)
(Regulations), 2011
33) SEBI {KYC (Know Your Client) Registration Agency}
Regulations, 2011
34) Securities Contracts (Regulation) (Stock Exchanges and
Clearing Corporations) Regulations, 2012
35) SEBI (Investment Advisers) Regulations, 2013
36) SEBI (Issue and Listing of Non-Convertible Redeemable
Preference Shares) Regulations, 2013
37) SEBI (Listing of Specified Securities on Institutional Trading
Platform) Regulations, 2013
38) SEBI(Foreign Portfolio Investors) Regulations, 2014
39) SEBI (Settlement of Administrative and Civil Proceedings)
Regulations, 2014
40) SEBI (Procedure for Search and Seizure) Regulations,
2014
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IV. Orders
1) SEBI (Issuing Observations On Draft Offer Documents
Pending Regulatory Actions) Order, 2006
2) SEBI (Framework For Rejection Of Draft Offer Documents)
Order, 2012
V. Guidelines
1) Guidelines for opening of Trading terminals abroad
2) SEBI (Delisting of securities) Guidelines, 2003
3) SEBI (Informal Guidance) Scheme, 2003
4) Guidelines for Anti-money laundering measures
5) SEBI (Employee Stock Option Scheme and Employee
Stock Purchase Scheme) Guidelines, 1999
6) SEBI (Disclosure and Investor Protection Guidelines)
2000
7) Framework for recognition and supervision of stock
exchanges / platforms of stock exchanges for small and
medium enterprises
8) SEBI (Disclosure and Investor Protection) Guidelines,
2000
9) SEBI (Aid for Legal Proceedings) Guidelines, 2009