SEBI Proposes Half-Yearly Disclosures for Securitised Debt Issuers

SEBI Report; Dated: 16.06.2025

The Securities and Exchange Board of India (SEBI) has released a consultation paper proposing a new regulatory framework aimed at enhancing transparency and investor protection in the securitisation market.

1. Key Proposal – Mandatory Disclosures by SPDEs and Trustees

Under the proposal, SEBI seeks to mandate special purpose distinct entities (SPDEs) and trustees associated with securitised debt instruments (SDIs) to submit detailed disclosures on a half-yearly basis. These disclosures will be made to both SEBI and the concerned stock exchanges.

2. Scope of Disclosures

The mandatory filings would cover the following key areas:

• Performance of Underlying Assets
• Structure of the Securitised Instruments
• Credit Quality and Risk Metrics
• Any Credit Enhancements or Modifications
• Material Developments Affecting SDI Transactions

These disclosures are intended to provide investors and regulators with greater insight into the health and stability of securitised instruments.

3. Objective – Strengthening Market Integrity

This proposal is part of SEBI’s broader efforts to strengthen governance frameworks, reduce information asymmetry, and enhance investor confidence in the securitisation ecosystem. By institutionalising regular and comprehensive reporting, SEBI aims to make the securitisation market more robust and investor-friendly.

4. Next Steps

Stakeholders and market participants have been invited to submit their comments and suggestions on the consultation paper. Based on the feedback received, SEBI will consider finalising the regulatory amendments and issuing detailed guidelines.

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