New Delhi, Feb 15 (PTI) Capital markets regulator Sebi has revised the timelines for the issuance of Consolidated Account Statements by depositories to boost compliance ease.
In a round issued on Friday, the regulator stated the asset administration firms (AMCs) and mutual fund registrar and switch brokers (MF-RTAs) are required to offer frequent PAN information to the depositories inside 5 days from the top of the month, as an alternative of the sooner three-day deadline.
After receiving the information, the depositories will then consolidate and dispatch the CAS to buyers who go for digital supply (e-CAS) by the twelfth day of the month and to these preferring bodily copies by the fifteenth day from the month-end, it famous.
Below the revised framework, in respect of half yearly CAS, Sebi determined that “the AMCs/MF-RTAs shall present the information with respect to the frequent PANs to the depositories on or earlier than eighth day of April and October yearly”.
Additionally, the depositories will then consolidate and dispatch the consolidated account assertion to buyers which have opted for e-CAS on or earlier than 18th day of April and October and to buyers those that have opted for supply through bodily mode by the twenty first day of April and October, respectively, as per the round.
The markets watchdog has additionally revised provisions concerning CAS issuance in circumstances the place there have been no transactions. If there may be any exercise in an investor’s demat account or mutual fund folios, then CAS will proceed to be despatched month-to-month foundation through e mail.
In case there isn’t any transaction in any of the mutual fund and demat accounts then CAS with holding particulars shall be despatched to the buyers by e mail on half yearly foundation, Sebi stated.
Sebi highlighted that buyers can go for CAS via e mail or in bodily type. If an investor do not wish to obtain CAS through e mail, they will select to obtain the identical in bodily type on the deal with registered deal with with the depositories and the AMCs/MF-RTAs.
These revised timelines will come into impact from Might 14, the round stated.
