Securities and Exchange Board of India (SEBI) under new circular has tighten Regulatory Compliance and Periodic Reporting Bankers to an Issue (BTIs).
Bankers to an Issue (BTIs) are required to furnish periodical reports on quarterly and annual basis in electronic form in the prescribed format in terms of SEBI Circulars No. RBT(G I Series) Circular No. 1(95-96)) dated April 21, 1995, BTI Circular No. 3(1999-2000) dated July 09, 1999, and Cir No. MIRSD/DPS-2/BTI/Cir- 15/2008 dated May 06, 2008.
In order to strengthen the compliance mechanism and role of the Boards of BTIs, it has been decided to review the norms and format for periodic reporting. The revised format as given in the circular includes the status of regulatory compliance and investor grievances redressal. The Board of directors of BTI shall, henceforth, review the report and record its observations on (i) the deficiencies and non-compliances,
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