5. Enumerate the various penalties which can be imposed under SEBI Act, 1992 for various

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1 SL&C Page 1 STUDY I - GENESIS AND DEVELOPMENT OF REGULATORY FRAMEWORK 1. Briefly discuss the evolution, growth and functions of financial system in India. 2. Explain the role of securities market in economic growth. 3. Discuss the various powers and functions of the Securities and Exchange Board of India. 4. Explain the role of SEBI in strengthening regulatory framework and fostering investor confidence. 5. Enumerate the various penalties which can be imposed under SEBI Act, 1992 for various failures, defaults, non-disclosure and other offences. 6. Explain the procedure for Appeal to the Securities Appellate Tribunal Discuss the various powers of the Central Government under SEBI Act, Explain the functions and duties of the Registrar under the Securities Appellate Tribunal (Procedure) Rules, 2000.

2 SL&C Page 2 STUDEY II- SECURITIES MARKET REFORMS & DEVELOPMENT (These are meant for recapitulation only. Answer to these questions are not to be submitted 1. Enumerate the major reforms Indian capital markets have undergone during the recent past. 2. Discuss the salient features of capital sector reforms in India. 3. Discuss the various initiatives taken by SEBI to improve transparency in Secondary market. 4. Briefly explain the policy initiatives taken by SEBI for developing capital market infrastructure in India. 5. Indian Capital market has undergone sea change in terms of innovations, growth and deregulation Discuss.

3 SL&C Page 3 STUDY III - MONEY MARKET 1. Money market is very important segment of Indian Financial System. Comment and discuss various features of money market. 2. Discuss various types of government securities and benefits of investing in government securities. 3. Explain Treasury Bills as an effective Cash Management product and state how yield of Treasury Bill is calculated. 4. Briefly discuss the guidelines for issue of commerical paper. 5. Discuss the role and responsibilities of issuer, issuing and paying agent and credit rating agency in issuance of commercial paper. 6. Write a short note on Gilt edged Securities Market.

4 SL&C Page 4 STUDY IV - CAPITAL MARKET INSTRUMENTS 1. State and explain in brief about various new capital market instruments in Indian Securities Market. 2. Give a comparative view of various types of preference shares prevalent in the market. 3. Dwell upon the features and advantages of convertible debentures. Distinguish between fully and partly convertible debentures. 4. Discuss the various types of instruments used by Indian companies to raise capital from the International Market. 5. Define Hedge funds and explain its characteristics and benefits. 6. Write short notes on a. Sweat Equity Shares b. Mortgage Backed Securities c. Derivatives d. Pure and Hybrid Instruments e. Exchange Traded Funds.

5 SL&C Page 5 STUDY V - CREDIT RATING 1. What do you understand by credit rating? Name the Indian agencies involved in Credit Rating and also explain briefly their rating methodology. 2. Explain major provisions of SEBI (Credit Rating Agencies) Regulations, Explain general obligations of Credit Rating Agencies under Chapter III of SEBI (Credit Rating Agencies) Regulations, Discuss the procedure relating to inspection and investigation of the credit rating agencies. 5. Explain important uses of credit rating and factors contributing to the success of a rating system.

6 SL&C Page 6 STUDY VI - CAPITAL MARKET INTERMEDIARIES 1. Capital market intermediaries is a vital link between SEBI and Investors. Comment. 2. Discuss the regulatory framework governing primary market intermediaries. 3. Explain general obligations and responsibilities of Merchant banker and due diligence certificate issued by the merchant banker. 4. Discuss the role and obligations of Portfolio Manager. 5. Discuss the pre-issue and post-issue work relating to public issue. 6. Explain the inspection and disciplinary proceedings which may be initiated by SEBI against underwriters. 7. Dwell upon the duties, obligations and responsibilities of Debenture Trustees under SEBI (Debenture Trustees) Regulations, What are the actions which can be initiated against SEBI registered intermediaries? Briefly discuss the procedure for holding enquiry by Enquiry Officer under SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002.

7 SL&C Page 7 STUDY VII - STOCK EXCHANGES 1. Stock exchange thus represent the market place for buying and selling securities and ensuring liquidity to them in the interest of the investors. Discuss in this light the functioning of the stock exchanges. 2. Discuss the powers of Central Government, SEBI and stock exchanges in regulation of stock exchanges. 3. Listing of securities with stock exchange is a matter of great importance for companies and investors. Discuss. 4. Enumerate the various requirements of listing of securities with recognised stock exchanges. 5. What do you understand by Derivatives?

8 SL&C Page 8 STUDY VIII - STOCK EXCHANGE TRADING MECHANISM 1. Write short notes on a. BOLT b. NEAT 2. Discuss the procedure for settlement of securities under rolling settlement. 3. Discuss the framework for securities lending and borrowng. 4. What is straght through processing? What are its advantages? 5. What are the prerequisites for trading in Option?

9 SL&C Page 9 STUDY Ix - MUTUAL FUNDS 1. Discuss the various advantages, schemes and general obligations of Mutual Funds. 2. Describe various schemes of Mutual funds. 3. What are the risks involved in Mutual funds? 4. Write short notes on: a. Net Asset Value(NAV) b. Mutual Fund Cost c. Asset Management Company d. Gold Exchange Traded funds e. Capital Protection Oriented Schemes. 5. Briefly discuss the code of conduct to be followed by mutual funds.

10 SL&C Page 10 STUDY x - VENTURE CAPITAL 1. Highlight the major provisions of SEBI (Venture Capital Funds) Regulations, Write short note on: a. Off-shore venture capital funds b. Obligations of Venture Capital Fund. c. SEBI s powers of inspection and investigation of venture capital funds d. Placement Memorandum. 3. Elaborate the domestic and International scenario of Venture Capital.

11 SL&C Page 11 STUDY xi - COLLECTIVE INVESTMENT SCHEMES 1. What are the obligations of collective investment management company? 2. Discuss the various restrictions on business activities of collective investment management company? 3. Enumerate the rights and obligations of trustees of collective investment schemes? 4. What are the provisions relating to inspection and investigation of the affairs of the trustee and collective investment management company? 5. Dscuss the circumstances under which a collective investment scheme could be wound up?

12 SL&C Page 12 STUDY xii - BUY BACK OF SECURITIES 1. Briefly explain the procedure for Buy Back of Securities by a listed company. 2. Explain the procedure for Buy Back of Securities through Book building. 3. What are various objectives of buy-back of shares? 4. What are the different modes of buy-back of shares? 5. What are various restrictions on buy-back of securities?

13 SL&C Page 13 STUDY xiii - DEPOSITORIES 1. Briefly outline the concept of Depository system in India. 2. Give an overview of the major provisions of the Depositories Act, Enumerate the provisions relating to enquiry, inspection and penalties under the Depositories Act, Explain in detail the provisions of Section 26 relating to power of depositories to make bye-laws under the Depositories Act, Outline the Appeal Procedure under the Depositories (Appeal to Securities Appellate Tribunal) Rules, Give an overview of the rights and obligations of Depositories, Participants and issuers under SEBI (Depositories and Participants) Regulations, Write short note on: a. Dematerialisation charges. b. Models of Depository. c. Internal Audit of Depository Participants. d. Secretarial Audit relating to Reconciliation of total admitted capital to total issued and paid up capital. e. Concurrent Audit.

14 SL&C Page 14 PART B ISSUE MANAGEMENT AND COMPLIANCES STUDY xiv - PUBLIC ISSUE OF SECURITIES 1. Discuss the various directions which SEBI can make under section 11B of SEBI Act for violation of SEBI (Disclosure to Investor Protection), Guidelines, What is a prospectus? Discuss broadly the disclosures to be made in prospectus. 3. Explain the various legal provisions to be complied with for further issue of capital. 4. Write a note on the work involved in making an issue of share open to the public. 5. State the guidelines relating to Issue of Bonus Shares. 6. What do you understand by Book Building? Explain briefly SEBI s guidelines for 100% book building. 7. State the guidelines relating to issue of debt instruments. 8. Write short notes on a. Minimum subscription b. Abridged prospectus c. Minimum promoters contribution and lock-in-period d. Preferential allotment e. Green Shoe Option f. Employee Stock Option Scheme g. Employers Stock Purchase Scheme. 9. Distinguish between voluntary delisting of securities and compulsory delisting of securities. 10. Briefly explain the procedure for voluntary delisting from all stock exchanges.

15 SL&C Page 15 PART B ISSUE MANAGEMENT AND COMPLIANCES STUDY xv - DEBT MARKETS (These are meant for recapitulation only. Answer to these questions are not to be submitted 1. The debt market in India comprises mainly of two segments viz., the Government securities market and the corporate securities market Discuss. 2. Briefly discuss the various developments in the Corporate Bonds and Securitization Markets. 3. Explain the Regulatory Framework of Debt Market in India. 4. Briefly discuss the role of various intermediaries in Debt Market. 5. Give an overview of various debt market instruments in India.

16 SL&C Page 16 PART B ISSUE MANAGEMENT AND COMPLIANCES STUDY xvi - RESOURCE MOBILISATION IN INTERNATIONAL CAPITAL MARKET 1. What are the various approvals required for issuance of FCCBs? 2. Describe the procedure for accessing External Commercial Borrowing through approval route? 3. Write short notes on a. Global Depository Receipts b. Domestic Cutodian Bank c. Overseas Depository 4. What are the provisions relating to transfer/redemption of GDRs? 5. Who are eligible to access ECBs through automatic route?

17 SL&C Page 17 PART B ISSUE MANAGEMENT AND COMPLIANCES STUDY xvii - INDIAN DEPOSITORY RECEIPTS 1. What is Indian Depository Receipts. Briefly explain the salient features of Companies (Issue of Indian Depository Receipts) Rules, What are the eligibility conditions in respect of issue of Indian Depository Receipts? What are the procedures for making an issue of Indian Depository Receipts? What are the compliances relating to corporate governance to be complied by companies issuing Indian Depository Receipts?

18 SL&C Page 18 PART B ISSUE MANAGEMENT AND COMPLIANCES STUDY xviii - INVESTOR PROTECTION 1. Explain the members rights and responsibilities as an individual shareholder and as a group. 2. Outline the various statutory measures initiated by SEBI for investor protection. 3. Discuss the common grievances faced by investors in the primary and secondary market. 4. Outline the Grievances Redressal Mechanism prevalent in India. 5. Highlight the major provisions of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, Explain the remedies available to investors under different enactments.