SEBI proposes activity-based regulations for RTAs

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  • Last Updated on 13 August, 2025

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SEBI consultation paper activity-based regulations RTAs Registrars to an Issue Share Transfer Agents MCA regulation listed companies

SEBI Report; dated: 07.08.2025

1. SEBI Issues Consultation Paper on RTA Regulations


The Securities and Exchange Board of India (SEBI) has released a consultation paper aimed at reviewing and updating the regulatory framework applicable to Registrars to an Issue and Share Transfer Agents (RTAs). The objective is to ensure that the scope of regulation is clearly defined and aligned with the nature of services provided.

2. Activity-Based Regulatory Approach Proposed


One of the key proposals in the consultation paper is the introduction of an activity-based regulatory framework. Under this approach, only the services rendered by RTAs to listed companies would come under SEBI’s regulatory ambit. In contrast, services provided by RTAs to unlisted companies would be regulated by the Ministry of Corporate Affairs (MCA).

3. Common Definition for RTAs Suggested


To bring clarity and uniformity, SEBI has also proposed establishing a common definition for RTAs. This standardised definition would apply across all relevant regulations, thereby reducing ambiguity and ensuring consistent interpretation by market participants and regulators.

4. Public Feedback Timeline


SEBI has invited stakeholders, industry participants, and the public to provide comments on the proposals outlined in the consultation paper. The deadline for submitting feedback is August 28, 2025, after which SEBI will review the inputs and finalise the regulatory changes.

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied