Permanent Registration for Market Intermediaries

SEBI previously followed a two-step process for registering market intermediaries, involving initial and permanent registration. However, to streamline the process and reduce compliance costs, SEBI decided to grant a one-step permanent registration to market intermediaries like merchant bankers, registrar to an issue and share transfer agent, bankers to an issue, underwriters, credit rating agencies, debenture trustees, depository participants, and KYC registration agencies.

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These two rollouts of “[at]valid Handle” and “SEBI Check” are expected to significantly enhance investor protection by curbing fraudulent money collections by unregistered entities.

SEBI promotes standardised reporting, savings of over Rs. 200 crore over 5 years, 90 percent reduction in reporting requirements for Brokers or Members, lower cost of entry for new fintech.

History comes alive. Watch an interesting discussion of Mr. Pratip Kar, SEBI‘s longest serving Executive Director with Ms. Latha Venkatesh of CNBC. It is a rare insider‘s account of SEBI‘s origin, its initial struggles, its battles against major market scams, lots of untold stories and a candid take on its landmark successes you don‘t want to miss.