Regulatory Alerts2023-09-26
Master Circular for Merchant Bankers
The Securities and Exchange Board of India (SEBI) issued this Master Circular to consolidate all existing directions for Merchant Bankers into a single document, rescinding previous circulars while preserving the validity of prior actions. The regulations mandate online registration via the SEBI Intermediary Portal, define permissible activities and fund deployment limits, and establish strict conditions for granting registration to group entities. Furthermore, the document outlines general obligations including half-yearly compliance reporting, investor complaint redressal mechanisms, and detailed procedures for obtaining prior approval for changes in control or business transfers.
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