Sebi approves one-time registration method for DPs

Simplifying procedural requirements, market regulator Sebi today to put in place a one-time single registration process for depository participants to operate on both CDSL and NSDL.
The initiative will streamline and simplify the registration process and will reduce the regulatory burden and save the cost and time of the applicants.
Sebi's board today "approved the policy of granting single registration for the application of initial registration as well as the permanent registration for operating with both the depositories (CDSL and NSDL)."
Currently, the depository participants are required to obtain separate registration for both the depositories. Further, the applicants are granted initial registration for five years and then permanent registrations.

The Board also took note of other measures taken by Sebi in the last two years to simplify the process of registration and to reduce the regulatory burden.
Some of these measures include doing away with segment -wise registration for brokers, removing the requirement of separate registration with different stock exchanges and allowing one time registration instead of yearly approval.

Besides, Sebi board has approved a proposal to allow Venture Capital Investors (FVCIs) in Core Investment Companies (CICs) for infrastructure sector to help attract overseas funds in this space.
The move will remove any hindrance for investment in the infrastructure sector through the FVCI route and to boost the infrastructure sector in the country.

Besides, Sebi has accepted the recommendations of 'Depository System Review Committee' on risk management, financial inclusion and expanding the reach of depository services, Investor Protection Fund of the depositories, outsourcing policy and IT Infrastructure.
The committee was constituted to assess the depository system on the basis of CPSS-IOSCO principles so as to benchmark with global best practices and suggest areas for improvement.
Further Sebi's board approved the proposal to frame suitable regulations for using secondary market infrastructure for public issuance (e-IPO).
Also, Sebi has given nod to the proposal to initiate public consultation process on re-classification of promoters and the regulator also approved proposal regarding issuance of partly paid shares and warrants by Indian companies.