Only BSE listing for CAMS
Computer Age Management Services (CAMS), the country’s largest mutual fund transfer agency, will list only on the BSE. Market observers say the company had to skip listing on the National Stock Exchange (NSE) as the exchange’s arm NSE Investments is a major shareholder. Sebi
rules bar an exchange from self-listing. It appears this rule also applies to firms where an exchange is a major shareholder. In 2017, depository firm CDSL had to list only on the NSE due to the BSE’s shareholding. Experts say listing on a neutral venue ensures disclosure and other compliance-related matter happen transparently. Sebi
has directed the NSE to divest its entire holding in CAMS. Once that happens, it remains to be seen if CAMS would later opt to list on the bigger exchange.
Rejig at Sebi's FPI division
The division of foreign portfolio investors (FPIs) and custodians at Sebi
is set to get a new person at the helm. Amit Tandon from the market regulation department is expected to take over from Achal Singh, who is seen moving to the corporate finance department, said people in the know. Singh had succeeded S Madhusudhanan in 2015 and ushered in the new operating guidelines for FPIs last year that eased KYC norms and reclassified investors into two categories. The FPI division is widely regarded as an important portfolio within Sebi as it deals with investors responsible for bringing in billions of dollars into the country.