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Depositories to issue account statements: SEBI

Depositories would have to report to SEBI if there is any failure by the issuers or their agents in reconciliation of records

May 22, 2013 4:14 IST | India Infoline News Service
Market regulator SEBI (Securities and Exchange Board of India) on Monday amended the norms governing the depositories and depository participants to allow issue of single consolidated account statements to the demat account holders for all their demat assets.

The depositories have also been asked to conduct inspection of the records of the issuers of the securities or their agents to ensure that the records of demat securities are reconciled with all the securities issued by them, SEBI said.

According to the amendment, depositories would have to report to SEBI if there is any failure by the issuers or their agents in reconciliation of records.

SEBI also said that the depository participants would have to pay the registration fees for a period of further five years, three months prior to the expiry of their initial permanent registration tenure of five years.

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