The Pension Fund Regulatory and Development Authority (PFRDA) on October 23, 2023, issued a notification regarding a draft of the proposed changes in the PFRDA (Custodian of Securities) Regulations, 2015.
The following has been stated: -
•The preliminary draft of an internal review of the PFRDA (Custodian of Securities) Regulations, 2015 has been completed.
•The draft of the proposed changes is placed in Annexure A.
•The proposed changes are in the following key areas: 1. Definition of Custodial Services modified 2. Eligibility conditions - Cross holding 3. Fit and proper criteria 4. Internal controls for prevention of fraud.
•The draft proposal placed in Annexure-A is open for stakeholder consultation and public comments till November 13, 2023.
The detailed notification is given in the document attached below.
