Corporate Updates – 02-06-2017


RBI has issued Notification to introduce Legal Entity Identifier for OTC derivatives markets. The LEI is a 20-character unique identity code assigned to entities who are parties to a financial transaction. It has been decided to implement the LEI system for all participants in the Over-the-Counter (OTC) markets for Rupee Interest Rate derivatives, foreign currency derivatives and credit derivatives in India, in a phased manner. Accordingly, all current and future participants would be required to obtain the unique LEI code as per time lines indicated in the schedule attached to this Notification. Entities without an LEI code would not be eligible to participate in the OTC derivative markets, after the date specified in the schedule. Entities can obtain LEI from any of the Local Operating Units (LOUs) accredited by the Global Legal Entity Identifier Foundation (GLEIF) – the entity tasked to support the implementation and use of the LEI.


SEBI vide its Circular introduced the Online Registration Mechanism for Mutual Funds. It has now been decided to operationalize SEBI Intermediary Portal for the entities to submit the mutual funds registration applications online. For registration of mutual funds the SEBI Intermediary Portal shall include online application for registration, processing of application, grant of in-principle approval, grant of final registration etc. SEBI Intermediary Portal for application of registration of Mutual Funds shall be made operational from June 01, 2017. The applicants will be separately required to submit relevant documents viz. declarations / undertakings required as a part of application form prescribed in relevant regulations, in physical form only for records, without impacting the online processing of applications for registration.

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