Sebi allows recognition of CDSL Ventures as an accreditation agency

Sebi allows recognition of CDSL Ventures as an accreditation agency

The renewal of the recognition would be subject to satisfactory performance by CDSL Ventures, it added.

Markets controller Sebi on Wednesday said it has allowed recognition to CDSL Ventures as an accreditation agency. With the recognition, CDSL Ventures will actually want to give accreditation certificates to certify investors. CDSL Ventures is a completely possessed auxiliary of depository CDSL. The recognition to CDSL Ventures has been conceded for a time of three years with impact from February 1, 2022, the Securities and Exchange Board of India (Sebi) said in articulation.

The procedure for accreditation of an investor and verification of accreditation status of an investor by investment providers — Alternative Investment Funds, Portfolio Managers and, Investment Advisers — and other modalities will be displayed on the website of CDSL Ventures and Central Depository Services (India) Ltd (CDSL), Sebi said.

In August last year, the regulator had notified norms for introducing framework for accredited investors in the Indian securities market. It also came out with modalities for implementation of the framework for such investors.

Under the norms, a person will be identified as an accredited investor on the basis of net worth or income.

Individuals, HUFs, family trusts, sole proprietorships, partnership firms, trusts and body corporates can get accreditation based on financial parameters specified by the regulator.

Accreditation agency will be responsible for verification of documents submitted by applicants, timely processing of applications and issuance of accreditation certificate, maintaining data of accredited investors and verification of accreditation status.

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