Flash Alert: SEBI Circular on Online Registration Mechanism for Securities Market Intermediaries
Date: May 3, 2017
Authority: Securities and Exchange Board of India (“SEBI”)
Names of the Legislations:
i. SEBI (Stock-brokers and Sub-brokers) Regulations, 1992.
ii. SEBI (Merchant Bankers) Regulations, 1992.
iii. SEBI (Underwriters) Regulations, 1993.
iv. SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993.
v. SEBI (Debenture Trustees) Regulations, 1993.
vi. SEBI (Bankers to an Issue) Regulations, 1994.
vii. SEBI (Credit Rating Agencies) Regulations, 1999.
viii. SEBI (Depositories and Participants) Regulations, 1996.
Details: Circular on Online Registration Mechanism for Securities Market Intermediaries.
Change: SEBI has issued a Circular on May 2, 2017. Through the Circular SEBI has introduced an online registration mechanism for Securities Market Intermediaries by creating an operational Intermediary Portal (“Portal”) i.e. https://siportal.sebi.gov.in.
The Circular further states that:
1. Intermediaries will now be now required to submit all their applications for registration, processing of application, grant of final registration, application for surrender / cancellation, submission of periodical reports, requests for change of name/address/ other details, etc. through this Portal.
2. The Portal is made operational for the following intermediaries:
i. Stock Brokers
ii. Sub Brokers
iii. Merchant Bankers
iv. Underwriters
v. Registrar to an Issue and Share Transfer Agents
vi. Debenture Trustees
vii. Bankers to an Issue
viii. Credit Rating Agency
3. The Stock Brokers/ Sub Broker and Depository Participants are still required to continue making all applications for registration/ surrender/other requests through the stock exchanges and depositories respectively.
4. The applicants are required to separately submit relevant documents viz. declarations/ undertakings required as a part of application forms prescribed in relevant regulations, in physical form, only for records without impacting the online processing of applications for registration.
5. SEBI Intermediary Portal will be operational for Depository Participants from May 31, 2017.
Effect:
i. All applications for registration/ surrender/other requests will be made through SEBI Intermediary Portal only.
ii. The task IDs affected by virtue of this Circular will be circulated shortly subject to its applicability.
To view this Circular, kindly access the link below:-
