SEBI Stipulates Risk Management Measures for Derivatives
The Securities and Exchange Board of India (“SEBI”) via a circular dated May 02, 2018 has mandated certain risk management practises to be followed by stock exchanges and/or clearing corporations that deal with derivatives. SEBI was prodded to make stipulations for margin collection requirement, margin enforcement requirement and computation of liquid net worth, on the basis of representations from several clearing corporations and recommendations from the Risk Management Review Committee of SEBI.
Telecom Commission Approves In-Flight Wi-Fi
The Telecom Commission (“Commission”) has approved the recommendation of the Telecom Regulatory Authority of India (“TRAI”) for allowing in-flight internet connectivity through the medium of Wi-Fi. This was later confirmed by the Union Minister of Commerce, Mr. Suresh Prabhu.
E-commerce Companies Served Notices for Non-Compliance With Packaging Rules
The Legal Metrology division of the Consumer Affairs Department (“LMD”) has served notices for non-compliance of the Packaged Commodity Rules, 2017 (amended in 2017, effective from January 01, 2018 onwards) (“Rules”) upon receiving several representations and complaints by consumers against e-commerce companies for not complying with the Rules. E-commerce companies have long been under fire for inflating the listed prices of products and offering huge discounts in order to coerce customers, only for the customers to later realize that the Maximum Retail Price (“MRP”) of the products are much lower than the discounted listed prices offered by e-commerce companies. Customers have complained that it is difficult to locate the MRP and best-before/expiry dates on the packaging label of the products. In lieu of such deceptive and errant practises followed by e-commerce companies, the LMD has started serving notices on e-commerce companies.