On Feb. 14, IND SEBI revised timelines for issuance of statements.
IND SEBI notified revised timelines for issuing consolidated account statements (CAS).
Follows IND SEBI Dec. 2024 issued updated master circular for depositories, #235703.
Background
Modalities re issuance of CAS for all securities assets are set out in the master circular.
Revisions have been made based on discussions held with registrar and transfer agents and depositories, and to enhance ease of compliance with the relevant timelines.
Submission Timelines
Asset management companies (AMCs) and mutual fund registrar and transfer agents (MF-RTAs), must provide common PAN data to depositories by 5th day of each month.
Depositories must dispatch CAS via electronic mode by 12th day, 15th day physically.
For half-yearly CAS, data must be provided by 8th day of Apr., Oct.; depositories must dispatch CAS via electronic mode by 18th day and via physical mode by 21st day.
If no transactions occur in mutual fund, demat accounts, CAS will be sent half-yearly.
Effectiveness
This circular takes effect from May 14, 2025; depositories must amend the relevant laws for implementation of the circular, and implement any necessary system changes.
They must also disseminate this circular, and report compliance status to IND SEBI.
