SEBI Updates Record Preservation Requirement for Depositories to Eight Years Under 2018 Regulations.
A corrigendum to the Master Circular for Depositories dated October 25, 2019, has been issued by the Securities and Exchange Board of India (SEBI) to update the preservation of records requirements. Depositories and Depository Participants are now required to preserve records for a minimum of eight years, aligning with the SEBI (Depositories and Participants) Regulations, 2018. This update modifies previous guidelines which mandated a five-year preservation period. Depositories must amend relevant rules, implement necessary system changes, and report the implementation status to SEBI. Other provisions of the original circular remain unchanged.
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