The Securities and Exchange Board of India (SEBI) on May 10, 2024, issued the Master Circular for Custodians.
The SEBI, from time to time, has been issuing various circulars/directions to Custodians. To enable the stakeholders to have access to the applicable requirements specified in these circulars in one place, the provisions of the said circulars have been consolidated in this Master Circular.
In addition to the requirements specified under this Master Circular, the custodians shall be required to independently comply with the other requirements specified by SEBI for market intermediaries such as the ‘Levy of Goods & Services Tax (GST) on the fees payable to SEBI’, ‘Approach to securities market data access and terms of usage of data provided by data sources in Indian securities market’, ‘Digital mode of payment’, ‘Information regarding Grievance Redressal Mechanism’ and ‘Guidelines on Outsourcing of Activities by Intermediaries’, etc.
This Master Circular shall come into force from May 10, 2024.
The circulars mentioned in Annexure A of the Master Circular shall stand rescinded with effect from the date of issuance of this Master Circular i.e., May 10, 2024.
Kindly find the detailed master circular attached in the document given below.
[Circular No. SEBI/HO/AFD/AFD –PoD-2/P/CIR/ 2024/40]
