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In its round, Sebi mentioned that CAS can be dispatched by e mail to all of the traders whose e mail addresses are registered with the depositories and AMCs or MF-RTAs.
Markets regulator Sebi on Tuesday mandated e mail as a default mode of dispatch of ‘Consolidated Account Assertion’, which supplies an account of securities traded by an investor, by depositories and Mutual FundRegistrar and Switch Brokers (MF-RTAs).
The brand new framework will come into pressure from April 1, the Securities and Alternate Board of India (Sebi) mentioned in a round.
A Consolidated Account Assertion (CAS) is a single or mixed account assertion which exhibits the small print of economic transactions made by an investor throughout a month throughout all mutual funds and likewise different securities held in dematerialised (demat) mode.
The CAS is dispatched to the traders by the depositories (NSDL or CDSL), offering the small print of economic transactions in each mutual fund folios and depository accounts if PANs are frequent throughout the RTAs and the depositories.
In respect of mutual fund folios, the place there isn’t any frequent PAN between the RTAs and the depositories, the CAS is shipped by mutual funds containing solely the mutual fund transactions.
“Contemplating the growing attain of digital know-how, digital mode now being the popular mode of communication and as a inexperienced initiative measure and to streamline the regulatory pointers on the mode of dispatch of account statements, it has been determined to revisit the regulatory provisions and supply for e mail because the default mode of dispatch for CAS by depositories, MF-RTAs and holding assertion by DPs,” Sebi mentioned.
In its round, Sebi mentioned that CAS can be dispatched by e mail to all of the traders whose e mail addresses are registered with the depositories and AMCs or MF-RTAs. Nonetheless, the place an investor doesn’t want to obtain CAS by way of e mail, an choice can be given to the investor to obtain the identical in bodily type.
If there’s any transaction in any of the demat accounts of the investor or in any of his mutual fund folios, then CAS can be despatched to that investor by way of e mail on a month-to-month foundation. If there isn’t any transaction in any of the mutual fund and demat accounts then CAS with holding particulars can be despatched to the traders by e mail on a half yearly foundation.
(Solely the headline and movie of this report might have been reworked by the Enterprise Customary workers; the remainder of the content material is auto-generated from a syndicated feed.)
First Revealed: Jul 02 2024 | 4:19 PM IST
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