Online Regn for SEBI intermediaries

http://www.sebi.gov.in/legal/circulars/may-2017/online-registration-mechanism-for-securities-market-intermediaries_34793.html

SEBI has started the process for online registration for all financial market intermediaries. The link for online registration is 

https://siportal.sebi.gov.in/intermediary/index.html

The portal shall include online application for registration, processing of application, grant of final registration, application for cancellation/ surrender, submission of periodical reports, requests for change of address/ name change etc.

The portal is now applicable for the following intermediaries, viz

i) Stock Brokers

ii) Sub-brokers

iii) Merchant Bankers

iv) Underwriters

v) Registrars to an Issue and Share Transfer Agent

vi) Debenture Trustees

vii) Bankers to an Issue

viii) Credit Rating Agency

The portal shall be operational for depository participants from 31^stMay, 2017.

Henceforth all applications for registration/ surrender/ other requests shall be made on the portal only.

However, the applicants will be separately required to send relevant documents viz. declarations/ undertakings required as part of the application process, in physical form but for record keeping purpose only. The online processing will not be impacted.

The applications in respect of stock brokers/ sub brokers/ depository participants shall be continued to be made through stock exchanges/ depositories respectively. Hard copies of documents submitted by these intermediaries shall be retained by the stock exchanges/ depositories and will be produced at SEBI whenever called for.

Net Owned Funds for ARCs

RBI has vide its notification dated 28th April, 2017 stipulated minimum Net Owned Fund (NOF) requirement by Asset Reconstruction Companies (ARCs) at Rs.100 crores on an ongoing basis.

All the ARCs which are already registered with Reserve Bank of India as on the date of the Notification and not having the revised minimum NOF as on date shall achieve a minimum NOF of ₹ 100 crore latest by March 31, 2019. ARCs shall submit a certificate from their Statutory Auditors periodically as evidence of compliance thereof.

NOF shall be arrived at by reducing from Owned Fund (OF), as defined in the Notification DNBR (PD).CC.No.03/SCRC/26.03.001/2015-16 dated July 1, 2015, the amounts representing -

i. investments of the ARC in shares of –

1. its subsidiaries;
2. companies in the same group;
3. all other ARCs; and

ii. the book value of debentures, bonds, outstanding loans and advances made to, and deposits with, -

1. subsidiaries of the ARC; and
2. companies in the same group,

to the extent such amount exceeds 10% of the OF.

Copy of the RBI notification can be found here

https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10949&Mode=0