GENERAL OBLIGATIONS AND RESPONSIBILITIES OF DESIGNATED DEPOSITORY PARTICIPANTS - Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019
GENERAL OBLIGATIONS AND RESPONSIBILITIES OF DESIGNATED DEPOSITORY PARTICIPANTS - Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019
Designated depository participant eligibility requires registration, custodian status, AD bank tie up and AML and fit and proper systems. Approval as a designated depository participant requires registration as a depository participant and as a custodian, a tie up with an Authorised Dealer ... Summary
Designated depository participant eligibility requires registration, custodian status, AD bank tie up and AML and fit and proper systems.
Approval as a designated depository participant requires registration as a depository participant and as a custodian, a tie up with an Authorised Dealer Category 1 bank, a multinational presence or regulated overseas relationships, systems and procedures to meet AML/FATF standards and domestic AML law, and a fit and proper status under intermediary criteria; the Board may accept other regulated entities with sufficient custodial experience in the interest of market development, provided they register as participant and custodian and have an AD Category 1 bank tie up.
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