SEBI mandates email as default mode of dispatch for Consolidated Account Statement by Depositories, Mutual Fund etc.
SEBI has mandated email as default mode of dispatch for Consolidated Account Statement by Depositories, Mutual Fund etc.
According to SBI Circular dated 1st July 2024, the decision has been taken considering the increasing reach of digital technology making the electronic mode the preferred mode of communication and as a green initiative measure and to streamline the regulatory guidelines on mode of dispatch of account statements.
According to the circular, it has been decided to revisit the regulatory provisions and provide for email as default mode of dispatch for Consolidated Account Statement (CAS) by Depositories, Mutual Fund –Registrar and Transfer Agents (MF–RTAs) and holding statement by Depositories Participant (DP).
The circular shall be effective from August 01, 2024.
Accordingly, SEBI Master Circular on Depositories dated October 06, 2023 has been modified and the Depositories are directed to make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision, as may be applicable/necessary, to carry out system changes, if any, to implement the above and disseminate the provisions of this circular on their website.
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