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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Master Circular for Custodians

10-May-2024 | SEBI/ HO/ AFD/ AFD - PoD-2/ P/ CIR/ 2024/40

SEBI has issued Master Circular for Custodians.

By virtue of this circular following has been provided:-

1. For online registration, applicant can access SEBI Intermediary Portal (https://siportal.sebi.gov.in) to submit the applications for registration as a Custodian under the provisions of Securities and Exchange Board of India (Custodian) Regulations, 1996(?Custodian Regulations?). Link for SEBI Intermediary Portal is also available on SEBI website -www.sebi.gov.in
2. All applicants desirous of seeking registration as a Custodian are now required to submit their applications online only, through SEBI Intermediary Portal at https://siportal.sebi.gov.in. The Custodian seeking approval as Designated Depository Participant (DDP) in terms of Regulation 10 of Securities and Exchange Board of India(Foreign Portfolio Investors) Regulations, 2019(?FPI Regulations?)shall also apply through this portal.

Other Key Highlights: -

1. The custodians shall be required to independently comply with the other requirements specified by SEBI for market intermediaries such as the Levy of Goods & Services Tax (GST) on the fees payable to SEBI, Guidelines on Outsourcing of Activities by Intermediaries?, etc.
2. Other directions or guidance issued by SEBI shall continue to remain in force in addition to the provisions of this Master Circular.
3. The circulars mentioned in Annexure A of the attached Circular shall stand rescinded.
4. Any act done under the rescinded circulars prior to such rescission shall be deemed to have been done or taken under the corresponding provisions of this Master Circular.

For more information, please refer the attachment.

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