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Sebi grants recognition to CDSL Ventures as accreditation agency

CDSL Ventures is a wholly-owned subsidiary of depository CDSL

SEBI | Sebi norms | CDSL

Press Trust of India  |  New Delhi 


Markets regulator on Wednesday said it has granted recognition to Ventures as an accreditation agency.

With the recognition, Ventures will be able to issue accreditation certificates to "accredited investors".

Ventures is a wholly-owned subsidiary of depository CDSL.

The recognition to CDSL Ventures has been granted for a period of three years with effect from February 1, 2022, the Securities and Exchange Board of India (Sebi) said in statement.

The renewal of the recognition would be subject to satisfactory performance by CDSL Ventures, it added.

The procedure for accreditation of an investor and verification of accreditation status of an investor by investment providers -- Alternative Investment Funds, Portfolio Managers and, Investment Advisers -- and other modalities will be displayed on the website of CDSL Ventures and Central Depository Services (India) Ltd (CDSL), said.

In August last year, the regulator had notified norms for introducing framework for accredited investors in the Indian securities market. It also came out with modalities for implementation of the framework for such investors.

Under the norms, a person will be identified as an accredited investor on the basis of net worth or income.

Individuals, HUFs, family trusts, sole proprietorships, partnership firms, trusts and body corporates can get accreditation based on financial parameters specified by the regulator.

Accreditation agency will be responsible for verification of documents submitted by applicants, timely processing of applications and issuance of accreditation certificate, maintaining data of accredited investors and verification of accreditation status.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, January 12 2022. 20:59 IST