Now depositories, stock exchanges can complete registration and other regulatory filings with Sebi online

By: | Published: January 29, 2018 6:36 PM

In order to make it convenient for the depositories and stock exchanges to do their businesses and complete works such as registration and other regulatory filings, Sebi has introduced online mechanisms on Monday. In separate circulars, Sebi said that all applicants desirous of seeking registration as a depository and stock exchange as well as for renewing of licence will have to submit their applications online.

Sebi, shares of Maharashtra Polybutenes, High Powered Advisory Committee,PFUTP, news on sebi, latest news on sebi Sebi said that all applicants desirous of seeking registration as a depository and stock exchange as well as for renewing of licence will have to submit their applications online. (Image: Reuters)

In order to make it convenient for the depositories and stock exchanges to do their businesses and complete works such as registration and other regulatory filings, Sebi has introduced online mechanisms on Monday. In separate circulars, Sebi said that all applicants desirous of seeking registration as a depository and stock exchange as well as for renewing of licence will have to submit their applications online. Further, all other filings including annual financial statements and returns, monthly development report and rules, would also be submitted online. The Securities and Exchange Board of India (Sebi) said that the new system has been made operational.

Earlier, Finance Minister Arun Jaitley in his budget speech for 2017 announced that the process of registration of financial market intermediaries will be made fully online by Sebi. Earlier last week Regulator Sebi has allowed India Pepper and Spice Trade Association (IPSTA) and Rajkot Commodity Exchange (RCX) to cease operations as commodity derivative bourses after they voluntarily decided to exit. Kochi-based IPSTA had recognition as a commodity derivative exchange in respect of futures trading in pepper while that of RCX was for forward trade in castor seed contracts. Both entities have been allowed to cease to exist as bourses after they complied with the requirements of exit policy for commodity derivatives exchanges, as per two separate orders. There was no trading at IPSTA since April 2016 and in the case of RCX, trading was discontinued in December 2016.

The boards of the two respective exchanges had resolved to take formal voluntary exit as recognised commodity exchanges. Among others, IPSTA had submitted to the Sebi that there was no trading activity at its platform for more than twelve months and that the market of pepper was also not conducive. In the case of RCX, the watchdog observed that it did not have the required 5 per cent of the nationwide market share of castor seed for two consecutive years — 2015-16 and 2016-17.

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