Master Circular for Depositories
Summary
This section introduces the Master Circular for Depositories, consolidating SEBI circulars issued up to October 31, 2020. It establishes that the circular comes into force on its issue date and supersedes previous master circulars dated October 25, 2019. The document is structured into four sections covering Beneficial Owner accounts, Depository Participants, Issuers, and Depositories. This section outlines various regulatory guidelines and operational frameworks for depositories, including arbitration fees, connectivity establishment, and portfolio monitoring. It details the requirements for opening Beneficial Owner accounts, specifying that Permanent Account Number is the sole identification number for market transactions. The text further lists admissible documents for Proof of Identity and Proof of Address, mandating verification by Depository Participants. This section mandates due diligence for Depository Participants when opening Beneficiary Accounts and clarifies the voluntary adoption of Aadhaar-based e-KYC processes. It outlines specific procedures for verifying client identity using UIDAI services, including biometric authentication and OTP methods for Mutual Funds. Addi
Text
Master Circular for Depositories has been prepared to enable users to have access to all applicable circulars/directions at one place.
This Master Circular is a compilation of relevant circulars/communications pertaining to Depositories issued by SEBI up to October 31, 2020 and shall come into force from the date of its issue.
In case of any inconsistency between the Master Circular and the applicable circulars, the content of the applicable/ relevant circular shall prevail.
The Master Circular consists of four sections i.e. Beneficial Owner (BO) Accounts, Depository Participants (DP) Related, Issuer related and Depositories Related.
This Master Circular shall supersede previous Master Circular SEBI/HO/MRD/DP/CIR/P/118 dated October 25, 2019.
Arbitration / Appellate Arbitration fees on the remanded back matter for fresh arbitration proceedings
Computing and monitoring of the Aggregate Value of Portfolio of Securities (AVPS) of the BOs held in dematerialised form by Stock Broker DPs
Annual System Audit of Depositories
(Information Technology) IT Governance for Depositories
Guidelines for inspection of Depository Participants (DPs) by Depositories
Outsourcing by Depositories
Cyber Security and Cyber Resilience framework of Depositories
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Source: SecMarx — Master Circular for Depositories. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.