印度的SEBI(SEBI)颁布了2026年的改革,要求提高商业银行家的资本、治理和经验标准,以促进IPO市场稳定。 India’s SEBI enacts 2026 reforms mandating higher capital, governance, and experience standards for merchant bankers to boost IPO market stability.

印度证券监管机构SEBI自2026年1月3日起对商业银行实行分阶段的资本和治理改革,要求第一类公司在2028年1月前达到50克郎净值和12.5克郎液体净值,并降低第二类的门槛。 India’s securities regulator SEBI has introduced phased capital and governance reforms for merchant bankers effective January 3, 2026, requiring Category I firms to reach ₹50 crore net worth and ₹12.5 crore liquid net worth by January 2028, with lower thresholds for Category II. 公司在承保风险时必须保持20倍的液体净值,在2026年4月前任命独立的合规干事,并确保关键人员有5年的市场经验和国家创新和综合管理证书。 Firms must maintain 20 times their liquid net worth in underwriting exposure, appoint independent compliance officers by April 2026, and ensure key personnel have five years of market experience and NISM certification. 核心活动再也不能外包,非管制行动必须戒严。 Core activities can no longer be outsourced, and non-regulated operations must be ring-fenced. 自2029年4月起,将实施最低三年收入门槛,若不遵守,则可能取消登记。 A minimum three-year revenue threshold will be enforced starting April 2029, with registration cancellation possible for non-compliance. 这些变化旨在加强印度迅速增长的IPO市场的金融稳定。 The changes aim to strengthen financial stability in India’s rapidly growing IPO market.