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of <h1>SEBI Mandates Depositories to Develop Board-Approved Outsourcing Policies; Core Activities Must Remain In-House.</h1> The Securities and Exchange Board of India (SEBI) issued a circular requiring depositories to adhere to specific guidelines for outsourcing activities. Depositories must establish an outsourcing policy approved by their Board, ensuring core activities such as processing applications, maintaining data, and compliance functions are not outsourced. Due diligence is required in selecting third-party entities, with risk management and monitoring measures in place. Outsourced activities can only be further outsourced with consent and safeguards. The policy will guide audits of outsourced activities, and depositories must implement these provisions within three months, updating relevant regulations and disseminating information on their websites.
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