SEBI has defined Social Impact Assessors as individuals registered with self-regulatory organizations (SROs) under the Institute of Chartered Accountants of India or other specified agencies, and who have completed a certification program by the National Institute of Securities Market. The circular expands the list of SROs to include ICMAI Social Auditors Organization under the Institute of Cost Accountants of India and ICSI Institute of Social Auditors under the Institute of Company Secretaries of India.
Securities and Exchange Board of India
Circular No. SEBI/HO/CFD/PoD-1/P/CIR/2024/0060 Dated: May 27, 2024
To,
All Social Enterprises
All Recognized Stock Exchanges
All Recognized Depositories
All Merchant Bankers and Brokers registered with SEBI
All Social Impact Fund registered with SEBI
Sir / Madam,
Sub: Self Regulatory Organizations for Social Impact Assessors in the context of Social Stock Exchange (“SSE”)
1. In terms of Regulation 292A(f) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, (“ICDR Regulations’) a Social Impact Assessor means an individual registered with self regulatory organization under the Institute of Chartered Accountants of India or such other agency, as may be specified by the Board, who has qualified a certification program conducted by National Institute of Securities Market.
2. In addition to the Self-Regulatory Organization under the Institute of Chartered Accountants of India the following agencies are specified as Self Regulatory Organizations for Social Impact Assessors in the context of Social Stock Exchange:
2.1. ICMAI Social Auditors Organization (ICMAI SAO) under the Institute of Cost Accountants of India
2.2. ICSI Institute of Social Auditors (ICSI ISA) under the Institute of Company Secretaries of India.
3. A copy of this circular is available on SEBI website at sebi.gov.in under the categories “Legal Framework → Circulars”.
Yours faithfully,
Yogita Jadhav
General Manager
Corporation Finance Department
Division of Policy and Development
+91 22 2644 9583
Email – yogitag@sebi.gov.in
