Depository compliance obligations: periodic registration fees, consolidated account statement sharing, and strengthened issuer liability and inspection powers. Participants must pay a periodic registration renewal fee at prescribed intervals, with payment made prior to expiry of the paid block. Depositories must enter into information sharing agreements to produce consolidated account statements for beneficial owners. Issuers and their agents face regulatory action for contraventions, failure to furnish or for furnishing false information, non cooperation with inspections, or failure to comply with Board directions; depositories must inspect issuer records to reconcile dematerialised securities with issued securities and report failures to the Board.
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Provisions expressly mentioned in the judgment/order text.
Depository compliance obligations: periodic registration fees, consolidated account statement sharing, and strengthened issuer liability and inspection powers.
Participants must pay a periodic registration renewal fee at prescribed intervals, with payment made prior to expiry of the paid block. Depositories must enter into information sharing agreements to produce consolidated account statements for beneficial owners. Issuers and their agents face regulatory action for contraventions, failure to furnish or for furnishing false information, non cooperation with inspections, or failure to comply with Board directions; depositories must inspect issuer records to reconcile dematerialised securities with issued securities and report failures to the Board.
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