Daily Newsletter - June 11, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

ICAI Drafts

Legal Updates:

IBBI

IFSCA

SEBI

DGFT

News Update:

Indian News:

Sebi to launch verified UPI IDs for intermediaries

RBI said to use cash reserve ratio as active liquidity tool

Fake finfluencers misleading common man: What is SEBI doing to rein in the menace and is it enough?

International News:

Is a fraud pandemic around the corner?

Firms should start auditing AI algorithms

Exposure Drafts:

ICAI Drafts:

Exposure Drafts of updated Forensic Accounting and Investigation Standards (FAIS) and its Implementation Guide
[Last date for Comments: June 19, 2025]

Legal Updates:

IBBI:

Revised Forms for Corporate Insolvency Resolution Process (CIRP)

IFSCA:

Amendment to the ‘Framework for Finance Company/Finance Unit undertaking the activity of Global/ Regional Corporate Treasury Centres’

Framework for Finance Company/Finance Unit undertaking the activity of Global/ Regional Corporate Treasury Centres - updated as on June 09, 2025'

Participation of Payment Service Providers (“PSPs”) in international payment systems

Modifications under the International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022

Amendments to the ITC(HS) codes for the import of Gold and Silver through IIBX

Extension of timeline for appointment of Custodian under Regulation 132 of the IFSCA (Fund Management) Regulations, 2025

SEBI:

Margin obligations to be given by way of Pledge/Re-pledge in the Depository System

Investor Charter for Research Analysts

Investor Charter for Investment Advisers

Measures for Enhancing Trading Convenience and Strengthening Risk Monitoring in Equity Derivatives

Final Settlement Day (Expiry Day) for Equity Derivatives Contracts

Process for appointment, re-appointment, termination or acceptance of resignation of specific KMPs of an MII and Cooling-off period for KMPs of an MII joining a competing MII and provisions relating to re-appointment of PIDs

DGFT:

Extenstion in Import period for Yellow Peas under ITC(HS) Code 07131010 of Chapter 07 of ITC (HS) 2022, Schedule-I (Import Policy) [Notification No.16]

Removal of Port Restrictions and Testing Requirements for Export of Finished Leather, Wet Blue Leather, El Tanned Leather and Crust Leather [Notification No.15]

Amendment in Import Policy Condition of Cabinet Hinges covered under Chapter 83 of ITC (HS), 2022, Schedule –I (Import Policy) [Notification No.14]

Amendment in Import Policy Condition of Roller chain and parts thereof covered under Chapter 73 of ITC (HS), 2022, Schedule –I (Import Policy) [Notification No.13]

Amendments to Para 4.41(5) of FTP-2023 [Notification No.12]

Restoration of RoDTEP for Advance Authorisations (AAs) holders, Special Economic Zones (SEZs) and Export-Oriented Units (EOUs) from 01.06.2025 [Notification No.11]

Alignment of RoDTEP Schedule consequent to changes in the First Schedule of Customs Tariff Act w.e.f. 01.05.2025 [Notification No.10]

Fixation of SION No. A-3686 under"Chemical and Allied Product" (Product Code 'A') [Public Notice No.9]

Enlistment under Appendix 2E of FTP, 2023 –Agency Authorized to issue Certificate of Origin (Non – Preferential) [Public Notice No.8]