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

Modifications to provisions of Chapter XXI of NCS Master Circular dealing with registration and regulatory framework for Online Bond Platform Providers (OBPPs)

28-Dec-2023 | SEBI/HO/DDHS/POD1/P/CIR/2023/194

SEBI has issued Modifications to provisions of Chapter XXI of NCS Master Circular dealing with registration and regulatory framework for Online Bond Platform Providers (OBPPs).

By virtue of this circular following modifications are issued:-

1. In Clause 5.2 following has been inserted ''Other products or securities or services that are regulated by a financial sector regulator viz. SEBI, RBI, IRDAI or PFRDA. In case of the products or securities or services mentioned above-

a. they may be offered by the entity either under a different tab on its online bond platform or on any other website/ platform.
b. they will be governed by the directions/ stipulations of the respective financial sector regulator.

2. Clause 5.3.7 is substituted as under:

''If the online bond platform or any other platform/ website of the Online Bond Platform Provider has any link/ tab to websites/ platforms offering products or securities or services that are regulated by other financial sector regulators viz. RBI, IRDAI, or PFRDA, then once a user clicks on such tab/ link, the following disclaimer shall be displayed at all times in legible font:

is regulated by

In case the Online Bond Platform Provider offers products or securities or services that are regulated by SEBI on its online bond platform or any other platform/ website, the relevant SEBI regulations as applicable to the product / security / service shall apply.

3. Insertion of clause 3.4.4 of Annex-XXI-A ''All Orders with respect to securities as specified in clause 5.2.5 of this Chapter shall be as per the applicable laws and regulations of the respective financial sector regulators.''

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