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of <h1>SEBI to Freeze Securities of Non-Compliant Companies' Promoters Under Regulation 75; Daily Reconciliation Required by August 1, 2019.</h1> The Securities and Exchange Board of India (SEBI) mandates issuers to reconcile records of dematerialized securities with all issued securities daily, as per Regulation 75 of the SEBI (Depositories and Participants) Regulations, 2018. Despite previous directives, some companies remain non-compliant. Effective August 1, 2019, SEBI instructs depositories to freeze securities held by promoters and directors of non-compliant companies, preventing transfers and corporate benefits until compliance is achieved. Non-compliant companies will be listed on exchange websites. Stock exchanges must ensure compliance before revoking trading suspensions. SEBI reserves the right to take further actions against non-compliant entities.
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