SEBI Broadens the Scope of ‘Fit and Proper’ Criteria for Depositories & Their Participants
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- Last Updated on 28 August, 2023
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Notification No. SEBI/LAD-NRO/GN/2023/147, Dated: 22.08.2023
SEBI has notified an amendment to SEBI (Depositories and Participants) Regulations, 2018. An amendment has been made to Reg 23, which outlines the requirements and criteria for determining a ‘fit and proper’ person. Now, SEBI has prescribed detailed criteria for determining the status of a ‘fit and proper’ person in the regulation itself, thereby broadening the scope of this regulation. Earlier, these criteria were specified under the Stock Exchanges and Clearing Corporations Regulations, 2018.
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