Master Circular for Depositories

SEBI/HO/MRD/MRD-PoD-1/P/CIR/2024/168 · 2024-12-03 · SEBI

Summary

This section of the Master Circular establishes its effective date, scope covering circulars up to September 30, 2024, and the legal basis for its issuance under Section 11(1) of the SEBI Act. It defines the transitional provisions ensuring that actions taken under rescinded circulars remain valid under this new compilation. Additionally, it outlines the document's structure into four sections and specifies the hierarchy of definitions for undefined terms. This section outlines regulatory frameworks for cyber security, AI reporting, and investor grievance redressal mechanisms like SCORES. It details issuer-related obligations concerning charges, ISIN activation, rights issues, and compliance with listing requirements. Additionally, it establishes operational standards for depositories, including settlement cycles, record preservation, and IT governance protocols. This section outlines norms for scheme arrangements by unlisted market infrastructure institutions and procedures for listed exchanges to comply with SECC Regulations. It details the mandatory use of Permanent Account Number (PAN) as the sole identification number for securities market transactions and specifies proof of i

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Master Circular for Depositories has been prepared to enable users to have access to all applicable circulars/directions pertaining to depositories at one place.

This Master Circular shall come into force from the date of its issuance and covers relevant applicable circulars/communications issued by SEBI upto September 30, 2024.

Anything done or any action taken under the rescinded circulars prior to such rescission shall be deemed to have been done or taken under the corresponding provisions of this Master Circular.

Any application made to SEBI under the rescinded circulars, prior to such rescission, and pending before it shall be deemed to have been made under the corresponding provisions of this Master Circular.

The previous operation of the rescinded circulars... any right, privilege, obligation or liability acquired... any penalty... or any investigation... shall remain unaffected as if the rescinded circulars have never been rescinded.

The Master Circular consists of four sections i.e. (1)Beneficial Owner (BO) Accounts, (2)Depository Participants (DP) Related, (3)Issuer related and (4)Depositories Related.

Words and expressions used but not defined in this Circular shall have the same meanings as may be defined in Securities Contracts (Regulation) Act, 1956 or the Securities and Exchange Board of India Act, 1992 or the Depositories Act, 1996 or Regulations made thereunder.

This Master Circular is issued in exercise of 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.

Cyber Security & Cyber Resilience framework for Depository Participants

Standard Operating Procedure (SOP) for handling cyber security incidents of intermediaries and Categorisation of Intermediaries

CERT-In Advisory "Preventing Data Breaches / Data Leaks"

Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by market intermediaries

Source: SecMarx — Master Circular for Depositories. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.