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New Delhi, 15 February (PTI) Capital Market Regulatory SEBI has revised the deadline for issuing account details integrated account details to increase compliance ease.
In a circular issued on Friday, the regulator said that asset management companies (AMCs) and mutual fund registrars and transfer agents (MF-RTA) need to provide common PAN data to the amount deposited within five days from the end of the month It is, instead, the first three-day time limit.
After receiving the data, the depository will then consolve and send CAS to investors who opt for electronic delivery (E-CAS) by the 12th day of the month and those people like physical copies from the end of the month to the 15th day Do, noted.
Under the revised structure, in relation to half an annual CAS, SEBI decided that “AMCS/MF-RTAS would provide data in relation to the common PAN before or after the 8th day of April and October”.
In addition, the depository will then consolidate and send integrated and consolidated account details to those investors who have selected for the e-Case on or before the 18th day of April and October and those investors who have given the physical mode till the 21st day of April. The option of delivery through medium has been opted and October, respectively, according to the circular.
Markets Watchdog has also revised the provisions regarding the issuance of CAS in cases where there were no transactions. If an investor has any activity in a demat account or mutual fund folio, CAS will be sent a monthly base via email.
If there is no transaction in any mutual funds and demet accounts, CAS with holding details will be sent to investors by email on half an annual basis, SEBI said.
SEBI highlighted that investors could opt for email or physical form. If an investor does not want to get CAS via email, they can choose to obtain physically equally on the addresses registered with deposits and AMCS/MF-RTAS.
This revised deadline will come into effect from May 14, the circular said.
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