1 year Securities law course from SEBI by NISM is power packed and has good career prospects, may be even good placements, go for it

National Institute of Securities Market (NISM) – An Educational Institution by Securities & Exchange Board of India (SEBI).

NISM is established by SEBI which is entrusted with duties also under Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets), Regulations, 2007 and it is in the process of mandating few programmes for Market Intermediaries like SEBI NISM Currency Derivatives Exam through BSE/NSE/MCX for brokers made mandatory to operate in securities market.

NISM Schools on Securities Market in India:

1. School for Investor Education and Financial Literacy (SIEFL)
2. School for Certification of Intermediaries (SCI)
3. School for Securities Information and Research (SSIR)
4. School for Regulatory Studies and Supervision (SRSS)
5. School for Corporate Governance (SCG)
6. School for Securities Education (SSE)

The CSMP Programme:

1. CSMP stands for Certified Securities Markets Professional.
2. The CSMP programme is a 1-year full-time certificate programme offered by NISM.
3. It covers Security analysis and Equity Research, Investment Banking, Fund Management, Corporate Re-structuring and Consulting, Investment Advisory Services, Equity and Debt Market Broking and related fields.
4. Aimed at graduates, post graduates and Executives aspiring for careers in securities markets.

Programme Architecture:

The programme is a balanced blend of theory and practice, divided into four terms. The themes of the four terms are:

• Conceptual Phase
• Application Phase
• Industry- Interaction Phase
• Advanced Application Phase

1. 600 hours of teaching.
2. During the first two terms/phases and in the fourth term/phase students are expected to study a total of 24 courses.
3. In the third term/phase is the internship project with an organization in the securities industry.

Admission Process:

1. Nationwide online Test and
2. Personal Interview.

Eligibility Criteria:

• A Post- Graduation (PG) course for 2 years or in the final year of PG course OR
• A Graduate (UG), with 2 years post qualification experience.
• NISM reserves the right to relax any of the above criteria in deserving cases and also accept or reject any application without assigning any reason.
• Should have a personal laptop.

Selection Criteria/Weightage:

1. Profile – 20% ( consists of Academic Qualification / Performance – 10% and Work Experience – 10%)
2. Online Test – 40%
3. Personal Interview – 40%

Course Fees:

1. Tuition fee: Rs.1,50,000/-
2. Examination fee: Rs.10,000/-
3. Library deposit fee: Rs.6,000/-
4. Library fee: Rs.10,000/-
5. Total = Rs.1,76,000/-
6. Plus Hostel/Stay fees.

For further details, contact:

National Institute of Securities Markets, Navi Mumbai.

E: csmp@nism.ac.in

W: www.nism.ac.in

Prospectus: Click Here to download

Registration: Click Here to Register Online [Rs.525/-]

Important Cut off or Due Dates: <><><></></></> Event Date Last date for Online Registration April 15 Online test April 25 Announcement online test results April 28 Personal interviews May 7 - 10 Announcement of first list of selected candidates for admission May 12 Payment of commitment fees for first list May 12 - 24 Announcement of second list of selected candidates for admission May 25 Receipt of First Installment Fee for all admitted candidates May 26 – June 14 Last date of completing all formalities and payment of first installment fee June 14 Inauguration of the programme June 22 Commencement of the programme June 23

Feel free to catch me up for clarifications… Trust me, if you are passionate about or wish to make a career in Securities Market, this is the right time to take a decision, go for it!!!

Understand when lesser penalty of 100%,50% & 30% may be levied under Competition Act Regulations

Understand CCI (Lesser Penalty)

Regulations, 2009

Regulation 2(1)(b): “applicant” means an enterprise, who is or was a member of a cartel and submits an application as per Schedule for lesser penalty to Competition Commission of India (CCI);

Regulation 2(1)(h): “priority status” means the position of the applicant marked for giving the benefit of lesser penalty in the queue of the applicants;

Regulation 2(1)(i): “vital disclosure” means full and true disclosure of information or evidence by the applicant to CCI, which is sufficient to enable CCI to form a prima-facie opinion about the existence of a cartel or which helps to establish the contravention of the provisions of section 3 of the Act.

Regulation 3. Conditions for lesser penalty. – Applicant shall,

(a) cease to have further participation in the cartel from the time of its DISCLOSURE;

(b) provide VITAL DISCLOSURE in respect of violation u/s.3 of the Act;

(c) provide all RELEVANT INFORMATION, documents and evidence as may be required by CCI;

(d) CO-OPERATE genuinely, fully, continuously and expeditiously throughout the investigation and other proceedings before the CCI; and

(e) NOT conceal, destroy, manipulate or remove the relevant documents in any manner, that may contribute to the establishment of a cartel.

The discretion of CCI, in regard to reduction in monetary penalty under these regulations, shall be exercised having due regard to –

(a) the STAGE at which the applicant comes forward with the disclosure;

(b) the EVIDENCE already in possession of the Commission;

(c) the QUALITY of the information provided by the applicant; and

(d) the entire FACTS and circumstances of the case.

Regulation 4. Grant of lesser penalty. – CCI may decide in the following manner,

(a) The applicant may be granted benefit of reduction in penalty [ONLY IF no other applicant has been granted such benefit by CCI] UPTO 100%, if the applicant is the first to make a vital disclosure,

• enabling CCI to form a prima-facie opinion regarding the existence of a cartel and CCI did not, at the time of application, have sufficient evidence to form such an opinion:
• in a matter under investigation and CCI, or the Director General did not, at the time of application, have sufficient evidence to establish such a contravention:
• no other applicant has been granted such benefit by CCI.

(b) Any subsequent applicant may also be granted benefit of reduction in penalty, if CCI opines that it may provide significant ADDED VALUE to the evidence. “Added value” means the extent to which the evidence provided enhances the ability of CCI

or the Director General, to establish CARTEL as alleged. It shall be in the

following order of PRIORITY STATUS:

(i) if the applicant is marked as second, reduction may be UPTO 50% of full penalty;

(ii) the applicant is marked as third, reduction may be UPTO 30% of full penalty;

Regulation 5. Procedure for grant of lesser penalty. –

(1) an application with material information as per the Schedule, or may contact, orally or through e-mail or fax, the designated authority for furnishing the information (which may be followed by written application subsequently within 15 days).

(2) WITHIN 3 working days, the designated authority shall put the matter before CCI.

(3) CCI shall mark priority status of applicant.

(4) Designated authority shall convey the same to the applicant either on telephone, or through e-mail or fax and shall provide the written acknowledgement.

(5) The evidence will be evaluated and only then the next applicant shall be considered by CCI.

(6) CCI may accept the application on satisfaction or reject the same for want of information after giving an opportunity of being heard.

Source: No. L-3(4)/Reg-L.P./2009-10/CCI dated 13^th August 2009

Online Verification of CS Exam Marks after re-totalling, ICSI's New Initiative based on Roll or Registration No. of Student

Are you not satisfied with your CS results? then apply for Verification of marks (casually called revaluation or re-counting) within 30 days from today (ie) within 30 days from declaration of CS results.  For more details, visithttp://yehseeyes.blogspot.com/2009/02/revaluation-retotalling-cs-marks.html

Online Verification of marks based on Roll No. or Registration Number is permissible now…

Yes, its a good news to CS students as they can see the New Mark Sheet after re-totalling or revaluation, what ever you call, of Company Secretary Exams online itself, following the link: http://www.icsi.edu:8888/StudentVerification/verificationQuery.aspx

Now, CS students need not wait till 25th March 2010 to decide – whether to apply for exams or not!!!

Enjoy passin…

IFC, the new NBFC under ECB approval route upto 50% NOF subject to RBI compliances & hedging full currency risk

Why all this?

In view of the thrust given to the development of the infrastructure sector, a separate category of NBFCs viz. Infrastructure Finance Companies (IFCs) has been introduced in terms of the guidelines contained in DNBS Notification.  In view of the new category of NBFCs being in place, the dispensation provided in “Old Position” below is not considered necessary.

New Position

Accordingly, proposals for External Commercial Borrowings (ECBs) by the IFCs, which have been classified as such by the Reserve Bank, for on-lending to the infrastructure sector, as defined in the extant ECB policy may be considered under the approval route, subject to their complying with the following conditions:

i) compliance with the norms prescribed in the aforesaid DNBS Circular dated February 12, 2010;
ii) hedging of the currency risk in full; and
iii) the total outstanding ECBs including the proposed ECB not exceeding 50 % of the Owned Funds.

Old Position

As per the extant ECB policy, Non-Banking Finance Companies (NBFCs), which are exclusively engaged in financing of infrastructure sector, are permitted to avail of ECB from the recognized lender category including international banks, under the approval route, for on- lending to the infrastructure sector, as defined in the extant ECB policy.

Source: A.P. (DIR Series) Circular No.39 dated 2nd March 2010

To know all about ECB notifications, visit http://yehseeyes.blogspot.com/search?q=ECB

New Infrastructure sector definition for ECB to include Cold storage at agricultural & allied levels

Why all this?

As announced in para 54 of the Union Budget for the Year 2010-11, it has been decided to expand the definition of infrastructure sector for the purposes of External Commercial Borrowings (ECB).

New Definition of “Infrastructure Sector”

The infrastructure sector would henceforth be defined to include (i) power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v) sea port and airport, (vi) industrial parks, (vii) urban infrastructure (water supply, sanitation and sewage projects), (viii) mining, exploration and refining and (ix) cold storage or cold room facility, including for farm level pre-cooling, for preservation or storage of agricultural and allied produce, marine products and meat.

Old Definition of “Infrastructure Sector”

As per the extant ECB policy, infrastructure sector is defined as (i) power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v) sea port and airport, (vi) industrial parks, (vii) urban infrastructure (water supply, sanitation and sewage projects) and (viii) mining, exploration and refining.

Source: A.P. (DIR Series) Circular No.38 dated 2nd March 2010

To know all about ECB, visit http://yehseeyes.blogspot.com/search?q=ECB

Download or SMS CS December exam results 2010 now for Company Secretary Foundation, Executive & Professional Programme by ICSI

Direct Link for Institute of Company Secretaries of India (ICSI) Exam Results for CS Foundation, Executive and Professional programme: http://icsi.examresults.net/ in addition to www.icsi.in or www.icsi.edu

• Further, to get CS Results in SMS: send “Result” as SMS to 56263.
• Download CS Exam Results here and search (Ctrl + F) for first three digits of your Roll Number and then look for the last 2 digits in the Row.  If your number is available in the PDF, it means you have passed the Exam.

What to do after passing CS Exams? What are the programmes to be completed after every level of CS exams? What are TOP, ADP, EDP, SIP, MSOP, SMTP, etc…? To understand, visit the CHECKLIST after CS Exams in http://yehseeyes.blogspot.com/2010/02/december-cs-exam-results-june-2010.html

December CS Exam Results February 2010 & Checklist of programmes after passing Company Secretary Foundation or Executive or Professional

The results of the CS Foundation Course, Intermediate and Final (Old Syllabus) and Foundation Programme, Intermediate/Executive Programme, and Professional Programme (New Syllabus) examinations of the Company Secretaries held in December, 2009 are scheduled to be declared at 12.00 Noon on 25^th February, 2010 at www.icsi.edu and also try www.icsi.in & http://icsi.examresults.net or details in http://yehseeyes.blogspot.com/2010/02/download-or-sms-cs-december-exam.html

HEARTIEST WISHES FOR EVERY ONE WHO HAS WON & IN THE PROCESS OF WINNING COMPANY SECRETARY EXAMS

Candidates registered upto and including the month of February in a year are eligible for appearing in both the groups of the Executive Programme or all 4 modules of Professional Programme examination held in June of next year. So, its mandatory for you to submit prescribed forms before 2nd March 2010 (also note even 27 & 28th February viz Saturday and Sunday is a full working day for ICSI) to appear for all modules in December 2010.  There is one another new requirement in lieu of TOP, SMTP, etc…which is called Student Induction Programme (SIP), Executive Development Programme (EDP)  and Professional Development Programme (PDP) from 1st September 2009 0nwards.  Details in http://yehseeyes.blogspot.com/2010/02/newcstrainingsipedpmsoppdpparttimeicsic.html

Before visiting the nearest ICSI office, make sure you are ready with following things:

For Foundation passed:

1. Click here to register online for CS Executive Program Application -http://www.icsi.in and arrange for fees as per http://www.icsi.edu/LinkClick.aspx?link=http%3a%2f%2fwww.icsi.edu%2fwebmodules%2flinksofweeks%2fREVISION+OF+FEES.doc&tabid=528&mid=3166

2. Get to know your subjects and classes schedules at http://csclasses.learnlabz.com
3. Register for Computer Training with Aptech or produce your Certificates to write Exemption exam on or before February 2010: www.icsi.aptechtrainingsolutions.com
4. Enroll for Student Induction Programme (SIP), a 7 full day program with ICSI which shall be completed within 6 months.  Details in http://yehseeyes.blogspot.com/2010/02/newcstrainingsipedpmsoppdpparttimeicsic.html
5. Get your Bcom degree too BCom CS Executive & MCom CS Professional programme is possible -IGNOU & ICSI offers this mutli-degrees for Company Secretaries

6. Get your scholarship based on your school marks from 10&12th Standard Marks for 100% Company Secretary Course fees, says ICSI by Students Education Fund Trust scheme-60/75/90%

7. Start writing CC papers for eligibility Just write 1 CC paper for CS Executive/Professional/Foundation programme, instead of 3 CC papers per subject but to secure 40% marks and submit on or before August 2010.

8. Enjoy reading CS Executive Programme books from http://csbooks.learnlabz.com

For Executive passed:

1. Click here to download & fill CS Professional Program Application -http://www.icsi.edu/webmodules/student/final.doc and arrange for fees as per Apply for Executive Development Program (EDP) and find details from nearest ICSI -http://www.icsi.edu/webmodules/student/TopForm.doc (its a mandatory pre-requisite to commence CS Training). EDP is a 8 full day program offered at ICSI and your training will commence only on completion of this program.  Details in http://yehseeyes.blogspot.com/2010/02/newcstrainingsipedpmsoppdpparttimeicsic.html

2. Then, start sending emails & applications of RESUME for CS Training to

   1. List of Company Secretaries in Practice Registered for Imparting Training

   2. Registered Companies for Training

3. For 15-month CS Training related information, you can visit http://yehseeyes.blogspot.com/2008/05/icsi-15-months-managementapprentice.html

4. Start looking out for Professional Development Programs (PDP) as its mandatory to attend for 25 hours or you have the option to register for National Convention of ICSI.

5. Get your Mcom degree too BCom CS Executive & MCom CS Professional programme is possible -IGNOU & ICSI offers this mutli-degrees for Company Secretaries

6. Get your scholarship based on your school marks from 10&12th Standard Marks for 100% Company Secretary Course fees, says ICSI by Students Education Fund Trust scheme-60/75/90%

7. Get to know your subjects and classes schedules at http://csclasses.learnlabz.com
8. Start writing CC papers for eligibility Just write 1 CC paper for CS Executive/Professional/Foundation programme, instead of 3 CC papers per subject but to secure 40% marks and submit on or before February 2010.

9. Enjoy reading CS Professional books @ http://csbooks.learnlabz.com

For Professional passed:

1. Pending Training you are eligible for Licentiate Membership of ICSI -http://www.icsi.edu/webmodules/student/Licentiate.doc and you will get Chartered Secretary (Members magazine) free of cost.

2. Complete your CS Training or Claim exemption from it following http://yehseeyes.blogspot.com/2008/05/icsi-15-months-managementapprentice.html

3. Complete RoC Training or Stock Exchange training, if applicable. Send e-mail to training2@icsi.edu to get the sponsorship letter.

4. Complete 25 hours PDP's, 15 full days MSOP’s, etc… in http://yehseeyes.blogspot.com/2010/02/newcstrainingsipedpmsoppdpparttimeicsic.html
5. Then, apply for the esteemed membership of ICSI following, http://yehseeyes.blogspot.com/2009/01/checklistformsfeesguide-to-apply-for.html

Are you not satisfied with your CS results? then apply for Verification of marks (casually called revaluation or re-counting) within 30 days from today (ie) within 30 days from declaration of CS results.  For more details, visit http://yehseeyes.blogspot.com/2009/02/revaluation-retotalling-cs-marks.html

Enjoy passin... Of course, you can keep track of all updates, happenings and all about Company Secretaries by following http://yehseeyes.blogspot.com/and Get See Yes -> Yes, ACS delivered by email

New Format Cheque under Cheque Truncation System (CTS) Standard issued by RBI, in addition to MICR, yet to be notified

"CTS-2010 Standard" for Cheque Forms – Specifications

RBI has proposed a New Cheque Truncation System (CTS) and a Model of proposed cheque, the effective date of which will be intimated soon.

It has since been decided to prescribe certain benchmarks towards achieving
standardisation of cheques issued by banks across the country. These include provision of mandatory minimum security features on cheque forms like quality of paper, watermark, bank’s logo in invisible ink, void pantograph, etc., and standardisation of field placements on cheques. In addition, certain desirable features are also being suggested which could be implemented by banks based on their need and risk perception. The set
of minimum security features would not only ensure uniformity across all cheque forms issued by banks in the country but also help presenting banks while scrutinising /recognising cheques of drawee banks in an image-based processing scenario. The homogeneity in security features is expected to act as a deterrent against cheque frauds, while the standardisation of field placements on cheque forms would enable straightthrough-processing (STP) by use of optical / image character recognition technology (MICR).

Source: RBI Circular DPSS.CO.CHD.No.1832/04.07.05/2009-2010 dated February 22, 2010

New NBFC Classification: AFC, IFC, Investment & Loan company as per RBI

Consequent upon re-classification of NBFCs, in the proposed structure the following categories of NBFCs will emerge:

1. Asset Finance Company
2. Investment Company
3. Loan Company
4. Infrastructure Finance Company (IFC) – a new category as notified by RBI vide DNBS.PD. CC No.168 /03.02.089 /2009-10 dated 12th February 2010.

Conversion into New Pricing Norms for FCCB on or before 15th August 2010 (ie) average 2 week high & low prices only like QIP under ICDR

A Scheme for issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme was notified in 1993 to allow the Indian Corporate sector to access global capital markets through issue of Foreign Currency Convertible Bonds (FCCB)/Equity Shares under the Global Depository Receipt Mechanism (GDR) and American Depository Receipt Mechanism (ADR). The Scheme has been amended several times since then.

What is FCEB?

Amendment: On or before 15th August 2010 (6 month period from 15th February 2010), the corporates have the option to revise from OLD CONVERSION PRICE norms to NEW CONVERSION PRICE norm (as below) for FCCB’s.  The said revision of conversion price is subject to the following conditions:

• Prior approval from RBI (PRBI) is mandatory.
• The issuing Company shall ensure that the revision of price and consequent issue of shares may not breach Foreign Direct Investment (FDI) limit (Sectoral caps) under Automatic or Approval route.
• The issuing Company shall take approval from its Board as well as from its shareholders (Board Resolution + Ordinary Resolution).
• The issuing Company shall enter into a fresh agreement with the FCCB holders in terms of re-negotiation of the conversion price.

Source: Ministry of finance Press Note F.No.9/3/2009-ECB dated 15th February 2010.

[Old Conversion Price]FCCB Pricing Norm prior to 27th November 2008:

Listed Companies – The pricing should not be less than the higher of the following two averages:

(i) The average of the weekly high and low of the closing prices of the related shares quoted on the stock
      exchange during the six months preceding the relevant date;

(ii) The average of the weekly high and low of the closing prices of the related shares quoted on a stock
       exchange during the two week preceding the relevant date.

The “relevant date” means the date thirty days prior to the date on which the meeting of the general body of shareholders is held, in terms of section 81 (IA) of the Companies Act, 1956, to consider the proposed issue.”

[New Conversion Price]FCCB Pricing Norm from 27th November 2008: similar to QIP pricing under ICDR

Listed Companies – The pricing should not be less than the average of the weekly high and low of the closing prices of the related shares quoted on the stock exchange during the two weeks preceding the relevant date; [avg 2 weeks high & low]
The “relevant date” means date of the meeting in which the Board of the company or the Committee of Directors duly authorized by the Board of the company decides to open the proposed issue.”

Source: FINMIN

Revised CS Training programme: 7,8,15days training programmes after Foundation, Executive & Professional Programme exams…Understand it!!!

Updated New Company Secretary Training Provisions

1. Applicability: Students enrolled for Company Secretary (CS) course on or after 1^st September 2009.
2. Student Induction Program (SIP): Students shall complete SIP Within 6 months of Registration for CS Executive Programme. SIP is a 7 full days training programme (introduced for the very first time). SIP will be conducted by ICSI's Regional Councils like NIRC, SIRC, EIRC & WIRC and 'A' & 'B' grade Chapters as provided in www.icsi.edu. To register for SIP, only physical application shall be made to the nearest ICSI chapter along with a fees of Rs.1,000/- To Get exemption from SIP, follow https://docs.google.com/open?id=1XBh5rCmnC1ZP_Fjq-lU2dXop9VnyJh1aggwku6CX_WG3TfihHBw-VdU6dUS3
3. Executive Development Program (EDP): EDP is the new name of erstwhile Training Orientation Programme (TOP). EDP is a 8 full days (instead of 5 days as earlier) training programme. EDP as a pre-requisite for Training which shall be done after passing CS Executive Programme Exams remains as such. To register for EDP, only physical application shall be made to the nearest ICSI chapter along with a fees of Rs.1,000/
4. Professional Development Program (PDP): PDP is the new name of erstwhile Academic Development Programme (ADP) which remains for the period of 25 hours. PDP's are the lectures, seminars, etc...conducted by ICSI on daily basis or weekend basis or half-day basis and will have PDP hours mentioned in it. PDP's will be counted after completion of Executive Development Programme (EDP) and during the course of CS Training. It shall be completed before applying for ACS Membership.
5. Wholly or Partly with PCS & Company & Firms/Institutions: The existing 15 month Training Programme remains as such. ICSI has specifically mentioned that Students are free to undergo training wholly or partly with Practising Company Secretary or Registered Companies. Further,
   6 (SIX) MONTHS OF 15 MONTHS TRAINING CAN BE DONE WITH FINANCIAL INSTITUTIONS/ MANAGEMENT CONSULTANTS / LAW FIRMS REGISTERED WITH ICSI.
   
6. RoC/Stock Exchange Training: The 15 day RoC or Specialised Institutions training on completion of 12 months of CS Training remains as such.
7. Management Skills Orientation Programme (MSOP): MSOP, the erstwhile Secretarial Modular Training Programme (SMTP) or Residential Secretarial Modular Training Programme (RSMTP) @ ICSI-CCGRT remains for 15 full days at the ICSI's Regional Councils. MSOP shall be completed after passing CS Professional Programme exams.
8. Membership Application: Details in http://yehseeyes.blogspot.com/2009/01/checklistformsfeesguide-to-apply-for.html
9. Full details about new CS Training, courses to be undergone and details can be found in http://yehseeyes.blogspot.com/2008/05/icsi-15-months-managementapprentice.html

Source: ICSI Notification & Website

The Council of the Institute has approved the following decisions
pertaining to training of the students of the Company Secretaryship
Course.:
A) 15 months training with Law Firms, Consultancy Firms,
Financial Institutions
The Council of the Institute has allowed imparting 15 months
training by Law Firms, Consultancy Firms and Financial
Institutions. Earlier they were allowed to impart training for 6
months only. Further the Council has removed the criteria of
standing, minimum number of partners and fixed assets for
registration of Law Firms and Consultancy Firms and approved the
revised guidelines for registration of Law Firms, Consultancy
Firms, Financial Institutions for imparting 15 months training
which is available at training link on the website of the Institute
www.icsi.edu.
B) Removal of requirement of remitting fee of ₹ 50/-with
Apprenticeship Agreement by the Practising Company
Secretaries
The Council has removed the requirement of remitting a fee of
₹ 50/- by the PCS towards registration of apprenticeship training
of the students.
C) 15 days with any one specialised agency:
The Council has also allowed undergoing training of 15 days with
any one specialised agency as prescribed under Regulation 50 (b)
of the Company Secretaries Regulations, 1982, with the broking
firms/ companies, Law firms, Universities (recognized by UGC),
Merchant Bankers, Mutual Funds, Insurance Companies, SMEs,
Industry Associations/ Chambers of Commerce, all Ministries,
SEBI, IRDA, TRAI, CCI, Courts, Tribunals and other quasi-judicial
bodies

Websites/Blogs/astrology predictions or advice/Newspaper Advertisements/SMS’s/Emails/rumours NO Papa...Only SEBI Registered Intermediaries for Investments

SEBI PR No.36/2010 dated 10th February 2010

Caution to investors

Securities and Exchange Board of India (SEBI) is a regulatory body established by an Act of Parliament to protect the interests of investors in the securities market, to promote the development of, to regulate the securities market and for matters connected therewith or incidental thereto.

The following caution is issued by SEBI in the interest of investors.

SEBI has observed a proliferation of websites that offer investment advice to investors. Many of these websites offer investment advice not backed by any reasonable basis and prima facie appear to be misguiding. Investors should realize that when they follow such advice they are exposing themselves to undue risk in using unconfirmed information available on such Websites/Blogs/astrology predictions or advice/Newspaper Advertisements/SMS’s/Emails/rumours/ advice rendered through television or print media and trading tips on an intra-day basis, short term basis or long term basis. The public in general is advised not to fall prey to or be lured by such sources of information promising quick gains and unrealistic high returns. It is advised that investors should take well informed investment decisions.

The following may be borne in mind:

· Deal only with/ through SEBI registered intermediaries.

· Do not get carried away by advertisements promising unrealistic gains and windfall profits.

· Do not invest based on market rumours or unconfirmed or unauthentic news.

· Be aware that advice through television or print media does not mean that it is the opinion of the channel or publisher.

· Be extra cautious while using information available from media sources such as Websites/ Blogs/ Newspaper Advertisements/ SMS’s Emails/rumours/ advice through television or print media for information and tips for intra-day, short term or long term investing.

· Do not be guided by astrological predictions on share prices and market movements.

· Do not make investment decisions on the basis of implicit/explicit promises made by anyone.

· Do not be unduly influenced by indicative returns.

· Do not be unduly influenced by Bull Runs/Bear Runs while making investment decisions.