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Online Registration Mechanism for Securities Market Intermediaries

SEBI/HO/MIRSD/MIRSD1/CIR/P/2017/38                     May 02, 2017

 

  1. All Recognized Stock Exchanges / Clearing Corporations
  2. Stock Brokers and sub-brokers through Recognized Stock Exchanges
  3. All recognised Depositories
  4. Depository Participants through Depositories
  5. Merchant Bankers
  6. Underwriters
  7. Registrar to an Issue and Share Transfer Agents
  8. Debenture Trustees
  9. Bankers To An Issue
  10. Credit Rating Agencies

 

Sub: Online Registration Mechanism for Securities Market Intermediaries

 

Dear Sir/Madam,

 

1. Hon’ble Minister of Finance, Government of India, in his speech while presenting the Budget for FY 2017-18 on February 01, 2017, announced that the process of registration of financial market intermediaries will be made fully online by SEBI.

2. As you are aware, SEBI had already started development of Enterprise SEBI Portal with various custom applications, including online registration modules for various intermediaries and in this regard, had various rounds of consultation with the market participants and received feedback.

3. It has now been decided to operationalize SEBI Intermediary Portal (https://siportal.sebi.gov.in)for the intermediaries to submit all the registration applications online. The SEBI Intermediary Portal shall include online application for registration, processing of application, grant of final registration, application for surrender / cancellation, submission of periodical reports, requests for change of name/address/ other details, etc., Link for SEBI Intermediary Portal is also available on SEBI website – www.sebi.gov.in. 

 

4. SEBI Intermediary Portal is made operational for following intermediaries:

 

  1. Stock Brokers
  2. Sub-brokers
  3. Merchant Bankers (MB)
  4. Underwriters (UW)
  5. Registrar to an Issue and Share Transfer Agents (RTA)
  6. Debenture Trustees (DT)
  7. Bankers To An Issue (BTI)
  8. Credit Rating Agency (CRA)

 

5. Further, SEBI Intermediary Portal will be operational for depository participants from May 31, 2017.

 

6. Henceforth, all applications for registration/ surrender/other requests shall be made through SEBI Intermediary Portal only. The applications in respect of stock brokers/ sub-broker and depository participants shall continue to be made through the stock exchanges and depositories respectively.

 

7. The applicants will be separately required to submit relevant documents viz. declarations/ undertakings required as a part of application forms prescribed in relevant regulations, in physical form, only for records without impacting the online processing of applications for registration.

 

8. Where applications are made through the stock exchanges / depositories, the hard copy of the applications made by their members shall be preserved by them and shall be made available to SEBI, as and when called for.

 

9. In case of any queries and clarifications with regard to the SEBI Intermediary Portal, intermediaries may contact on 022-26449364 or may write at [email protected].

 

10. Stock exchanges / clearing corporations and Depositories are directed to:

 

  1. take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant bye-laws, rules and regulations;
  2. bring the provisions of this circular to the notice of their members and also disseminate the same on their websites;

 

11. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of and to regulate the securities market.

 

Yours faithfully,

 

 

D Rajesh Kumar

Deputy General Manager

022-26449242 Email: [email protected]

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