The Central Depository Services (India) Limited (CDSL) on September 20, 2024, issued a notification regarding the Surveillance Obligation of Depository Participants and Steps to Submit Quarterly Reports in New Format.
The following has been stated: -
•The DPs are required to generate appropriate surveillance alerts at their end, to enable them to effectively monitor the transactions of their clients at their end as per the laid down surveillance policy.
•Further DP must report the status of alerts generated to CDSL. Based on the SEBI recommendations to monitor the alerts generated by DPs in their back-office software, additional columns have been introduced in the quarterly reporting format to provide a comprehensive overview of the alerts generated by DPs.
•The functionality will be released on September 30, 2024. DP shall submit the report in new format for the quarter ended September 2024.
•DPs are advised to note the same, ensure compliance and make necessary changes, in their back office system if required.
The detailed notification is given in the document below.
[Notification No. CDSL/OPS/DP/SYSTM/2024/552]
