Simplification of procedure and standardization of formats of documents for transmission of securities – Lexology

Posted: June 29, 2022 at 12:45 am

On 18 May 2022, SEBI issued a circular on simplification of procedure and standardization of formats of documents for transmission of securities pursuant to amendments to SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. In order to enhance ease of dealing in securities markets and with a view to make the transmission process more efficient and investor friendly, the procedure for transmission of securities has been further simplified vide the SEBI (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2022 dated 25 April 2022 (LODR Amendment Regulations). The LODR Amendment Regulations has inter alia enhanced the monetary limits for simplified documentation for transmission of securities, allowed Legal Heirship Certificate or equivalent certificate as one of the acceptable documents for transmission and provided clarification regarding acceptability of Will as one of the valid documents for transmission of securities. Pursuant to the notification of the LODR Amendment Regulations, this Circular is being issued to specify the formats of various documents which are required to be furnished for the processing of transmission of securities. There are various annexures attached to this Circular some of which provide details of the documents required for transmission of securities, operational guidelines for processing investors service request for the purpose of transmission of securities, format of the form to be filed by nominee/claimant(s)/legal heir(s) while requesting transmission of securities, format of the Letter of Confirmation to be issued by RTAs/ Issuer Companies, etc.

The common norms stipulated in SEBI Circular SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated 3 November 2021 and SEBI Circular SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/687 dated 14 December 2021 shall be applicable for transmission service requests. The provisions of this Circular shall come into force with immediate effect in supersession of the following circulars:

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Simplification of procedure and standardization of formats of documents for transmission of securities - Lexology

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