CIRCULAR
SEBI/HO/AFD/ AFD-SEC-2/P/CIR/2024/8 January 25, 2024
To
All Designated Depository Participants (DDPs),
All Custodians
Sir/ Madam,
Sub: Streamlining of Regulatory Reporting by Designated Depository
Participants (DDPs) and Custodians
1. SEBI has reviewed various reports submitted by DDPs and Custodians in order to
have uniform compliance standards, for ease of compliance reporting and for
regulatory purposes.
2. In terms of Regulation 31(4) of SEBI (Foreign Portfolio Investors) Regulations,
2019, and Regulation 20 of the SEBI (Custodian) Regulations, 1996 read with the
provisions of Master Circular for Custodians dated April 27, 2023 (referred as
Master Circular for Custodians) all DDPs and Custodians shall submit the reports
specified by the Board from time to time.
3. Subsequent to the review, it has been decided that the following reports shall
henceforth be submitted on the SEBI Intermediary Portal (SI Portal) by DDPs and
Custodians:
Table 1: Reporting Requirements with Periodicity
S.No Reporting Requirements Periodicity
Annual audit reports on internal controls of DDPs under
I. Regulation 31(6) of SEBI (Foreign Portfolio Investors)
Regulations, 2019
Annual review report of the systems, procedures & controls
of the Custodian by an expert under Regulation 14 (2) of Annual
II.
Custodian Regulations read with Clause 8 of Chapter IV of
the Master Circular for Custodians.
Audited Annual report along with Net worth certificate
III. under Clause 7 of Chapter IV of the Master Circular for
Custodians
AI / ML report under Clause 9 (v) of Chapter IV of the
IV. Half yearly
Master Circular for Custodians
Custodian Quarterly report under Clause 6 of Chapter IV
V.
of the Master Circular for Custodians.
Quarterly
FPI General Information to assess the eligibility under
VI.
Regulation 4 of FPI Regulations, 2019
Page 1 of 3
S.No Reporting Requirements Periodicity
NRI/OCI/RI requirements under Clause 1(ii) of Part A of
VII. Master Circular for FPIs and DDPs dated December 19,
2022
FPIs non-compliant with Legal entity identifier
VIII. Quarterly
requirements under circular dated July 27, 2023
FPIs who have not submitted granular BO details under
IX.
circular dated August 24, 2023
Details of FPIs granted exemption under circular dated
X.
August 24, 2023
Change in material information where there is a delay of 6
XI. months as provided under Clause 14(iii) of Part A of the
Master Circular for FPIs and DDPs Monthly
Report of short sales by FPIs under Clause 4 of Chapter
XII.
IV of the Master Circular for Custodians.
4. The reporting formats which were finalised in consultation with the pilot Custodians
and Designated Depository Participants Standard Setting Forum (CDSSF) shall be
shared by CDSSF with all the DDPs and Custodians, who shall disclose the same
on their websites.
5. Reporting by DDPs under Clause 14(iii) of Part A of Master Circular for FPIs and
DDPs shall be on monthly basis on SI portal. However, the DDPs shall continue to
submit delay in intimation of certain material changes (excluding change in Name,
Change in Senior Managing Official and Change in Beneficial owner not leading to
change in Investor Grouping), within 2 working days from the receipt of intimation
by FPI by email to misc-fpi@sebi.gov.in.
Timelines for submission of reports
6. These reports shall be submitted by DDPs and Custodians on the SI portal on
monthly, quarterly, half yearly and annual basis as specified. The monthly and
quarterly reports shall be uploaded within 15 calendar days from the end of each
month and quarter, respectively. The other reports shall be uploaded as per
timelines specified in the Master Circular.
7. The mode and periodicity of the provisions of circulars as mentioned in para 2
stand modified to the extent specified herein.
8. The provisions of this Circular shall come into effect from month ending February
- 2024 onwards.
9. This Circular is issued in exercise of powers conferred under Section 11(1) of the
Securities and Exchange Board of India Act, 1992, to protect the interest of
investors in securities and to promote the development of, and to regulate the
securities market.
Page 2 of 3
10. This Circular is available on SEBI website at www.sebi.gov.in under the categories
“Legal Framework - Circulars” and "Info for Foreign Portfolio Investors”.
Yours faithfully,
Treasa Kuriala
Deputy General Manager
Tel no.: +91-22-26449228
treasak@sebi.gov.in
Page 3 of 3