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Sebi launches online registration for custodians of securities

Press Trust of India  |  New Delhi 

Markets regulator today said it has introduced an online registration mechanism for custodians of securities to make it convenient for them to do business.

The new system would help custodian of securities to complete registration and other regulatory filings with much faster and in a cost-effective manner.

"All applicants desirous of seeking registration as a custodian of securities are now required to submit their applications online only, through intermediary portal," the regulator said in a circular.

"The custodian of securities seeking approval as Designated Depository Participant (DDP) in terms of ... Sebi (FPI) regulations shall also apply through this portal," it added.

The Securities and Exchange Board of (Sebi) said that the new system has been made operational with immediate effect.

Custodian of securities holds and other assets in electronic or physical form.

Earlier, Minister in his budget speech for 2017 announced that the process of registration of financial market intermediaries will be made fully online by Sebi.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 09 2017. 19:13 IST