‘Qualified RTA’ defined as RTA Servicing < 2 Cr Folios for Listed Cos. in a FY: SEBI
- News|Blog|Company Law|
- 2 Min Read
- By Taxmann
- |
- Last Updated on 15 March, 2023
Latest from Taxmann
Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/36, Dated March 10, 2023
Earlier, the SEBI vide circular no. SEBI/HO/MIRSD/CIR/P/2017/0000000100 dated September 08, 2017, specified framework for Cyber Security and Cyber Resilience for Registrars to an Issue and Share Transfer Agents (RTAs).
Under the said framework, Qualified Registrars and Transfer Agents (QRTAs) were defined as RTAs serving more than 2 crore folios. Also, QRTAs were mandated to comply with enhanced responsibilities through the adoption and implementation of an internal policy framework and periodic reporting requirements.
Now, the SEBI has issued a clarification to indicate that an RTA shall be categorized as a QRTA if, at any point during a financial year, the combined number of physical and demat folios being serviced by the RTA for listed companies exceeds 2 crore. Once RTA becomes a QRTA, they are obligated to inform SEBI within 5 working days.
An RTA will be considered as a QRTA from the date of their categorisation as such, and will retain the said categorization for the next 3 financial years, irrespective of any subsequent fall in number of folios and will be liable to comply with all requirements specified by the SEBI.
Further, considering the various systems and procedures to be put in place by a new QRTA, SEBI has granted a relaxation period of 60 days from the date of categorisation as a QRTA to comply with the enhanced requirements mandated for QRTAs. This circular shall be effective immediately.
Click Here To Read The Full Circular
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
