Regulatory Alerts2024-06-03
Master Circular for Bankers to an Issue
The Securities and Exchange Board of India (SEBI) issued this master circular to consolidate all prior directives for registered Bankers to an Issue (BTIs) under the SEBI (Bankers to an Issue) Regulations, 1994. The document rescinds previous individual circulars while preserving past regulatory actions, and mandates BTIs to comply with updated guidelines covering online registration, change-in-control approvals, half-yearly compliance reporting, designated communication channels, and strict adherence to KYC, AML/CFT, and data security standards. It further outlines operational obligations including investor grievance redressal through SCORES, mandatory PAN verification for all transactions, outsourcing principles, and advisory protocols for managing cloud-based Software as a Service solutions to ensure critical financial data remains within India's jurisdiction.