The regulator is said to have stopped clearing applications for any new fund offers of fund houses whose networth is below the required level.

According to industry experts, Sebi has received offer documents from many of these fund houses to launch new schemes, but it is not approving them.

The capital market regulator has approved one-time registration process for depository participants to operate on both CDSL and NSDL.

The initiative would help streamline and simplify the registration process and will reduce the regulatory burden and save the cost and time of the applicants.

Currently, the depository participants are required to obtain separate registration for both the depositories. Further, the applicants are granted initial registration for five years and then permanent registrations.

The board also took note of the recommendations -- regarding simple, formalised and risk-based supervision approach for market intermediaries -- made by consultant Oliver Wyman, which was appointed by Sebi.

Based on the recommendations, Sebi is in the process of formalising its risk based approach towards supervision of market intermediaries which would be in alignment with the global best practices. The system will be implemented in a phased manner, the release said.

Further, Sebi board has approved a proposal to allow Venture Capital Investors in Core Investment Companies for infrastructure sector to help attract overseas funds in this space.

The move will remove any hindrance for investment in the infrastructure sector through the FVCI route and to boost the infrastructure sector in the country.

Besides, Sebi has accepted the recommendations of 'Depository System Review Committee' on risk management, financial inclusion and expanding the reach of depository services and Investor Protection Fund of the depositories.

The committee was constituted to assess the depository system on the basis of CPSS-IOSCO principles so as to benchmark with global best practices and suggest areas for improvement.

Further Sebi's board approved the proposal to frame suitable regulations for using secondary market infrastructure for public issuance (e-IPO).

Also, Sebi has given nod to the proposal to initiate public consultation process on re-classification of promoters and the regulator also approved proposal regarding issuance of partly paid shares and warrants by Indian companies.

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