Custodian governance and operational requirements strengthened: segregation of services, risk management, BCP and reporting streamlined. SEBI prescribes that custodians (except banks or their affiliates) segregate SEBI-regulated activities into separate Strategic Business Units with arm's-length accounting and exclusion from net worth calculation, disclose and obtain client acknowledgement for unregulated services, and implement controls when sharing resources. Custodians must adopt board-level governance, an annually reviewed risk management policy with a designated senior risk officer and STR measures, maintain scalable IT capacity and a Business Continuity Plan with geographically or seismically separated DR sites, and implement orderly wind-down arrangements to ensure client portability.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Custodian governance and operational requirements strengthened: segregation of services, risk management, BCP and reporting streamlined.
SEBI prescribes that custodians (except banks or their affiliates) segregate SEBI-regulated activities into separate Strategic Business Units with arm's-length accounting and exclusion from net worth calculation, disclose and obtain client acknowledgement for unregulated services, and implement controls when sharing resources. Custodians must adopt board-level governance, an annually reviewed risk management policy with a designated senior risk officer and STR measures, maintain scalable IT capacity and a Business Continuity Plan with geographically or seismically separated DR sites, and implement orderly wind-down arrangements to ensure client portability.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
