The Securities and Exchange Board of India (SEBI) on November 13, 2024, issued a consultation paper on review of SEBI (Custodian) Regulations, 1996, and operational guidelines for Custodians.
The following has been stated: -
•SEBI is reviewing the Custodian Regulations, 1996, due to the significant growth in market size, regulatory scope, and technological advancements.
•A Working Group (WG) was formed to assess and update the regulations, focusing on areas like prior approval for change in control, code of conduct, business continuity, outsourcing, reporting requirements, and the recognition of global custodians.
•SEBI has also proposed a review of net worth requirements and enhanced custodial responsibilities. The review aims to streamline and modernize custodial services in line with industry developments.
•The comments/suggestions should be submitted latest by November 28, 2024.
URL: https://www.sebi.gov.in/sebiweb/publiccommentv2/PublicCommentAction.do?doPublicComments=yes
