SEBI gives more time for merchant bankers to comply with SBU, net worth timelines

Markets regulator SEBI on Thursday (June 11) extended the timelines for merchant bankers to comply with certain provisions related to separate business units (SBUs), net worth and liquid net worth requirements, citing operational challenges faced by the industry. Siddhartha Desai, Partner at JSA Advocates and Solicitors, said that the extensions are welcome for investment bankers, as the original turnaround time, including key milestones under the SBU framework, was highly unlikely given the on-ground steps required to achieve them. Read more