SEBI Streamlines Framework On Centralised Database For Corporate Bonds
♦ DATE OF NOTIFICATION- SEBI issues framework on Centralised Database for Corporate Bonds on 4th day of June, 2021.
♦ APPLICABLE WITH EFFECT FROM– This new framework will be applicable for debt securities issued on or after August 1, 2021.
♦ SEBI vide Circular No. CIR/IMD/DF/17/2013, Dated- October 22, 2013 , on Centralized Database for Corporate Bonds/ Debentures Mandated Depositories to jointly create, host, and maintain a Centralized Database of Corporate Bonds held in demat form.
♦ PARTIES INVOLVED IN CENTRALISED DATABASE FOR CORPORATE BONDS:
|S. NO||PARTIES INVOLVED||COMPLIANCES|
|1.||DEPOSITORIES||a) It shall continue to disseminate the centralised database for Corporate Bonds which are in Demate Form.
b) Must have adequate system to prevent from manipulation of Information.
c) Synchronization of Database with other Depository.
d) Information received from issuer shall be shared with other depository – within 3 working Days.
e) Shall categorise Investors as per the SEBI Circular No. CIR/CFD/CMD/13/2015
f) Provide secure credit credentials to other parties for the Updating of Information– within 3 working days.
|2.||ISSUERS||a) Shall fill all information as per Annexure 1 – at the time of Allotment of ISIN while Depositories verify Information.
b) For Post Listing of Securities- Submit information as per Annex 2 to any Stock Exchange– within 1 working date of change of such details.
|3.||STOCK EXCHANGE||a) Information should be Update on Daily basis.
b) Should Verify Listings Details.
c) Also update event based & periodical information- once a year.
|4.||CREDIT RATING AGENCIES||a) Verify the Rating Information update by Issuer.
b) In case of Discrepancy- Debenture Trustee notify to Stock Exchange & update the same – within one Working Day
|5.||DEBENTURE TRUSTEE||a) Verify information regarding Default history.
b) In case of Discrepancy– Debenture Trustee notify to Stock Exchange & update the same– within 7 Days of Date of Knowledge of Default.