SEBI further streamlines process of public issues and redressal of investor grievances; introduces format to capture data of all ASBA applications unblocked by SCSBs and their corresponding date of actual unblock etc.
In partial modification of the circulars mentioned in the trail i.e. the March, 2021 Circular and the circular dated June 02, 2021, SEBI has rolled out the present circular on 20th April, 2022 to further streamline the process of public issues and redressal of investor grievances.
The key takeaways from this circular are as follows:
• SEBI has devised a new reporting format to capture data of all ASBA applications unblocked by SCSBs and their corresponding date of actual unblock. As a fallout of this SCSBs will be required to submit the Annexure IV of the March’21 Circular in the format prescribed this circular.
• SCSBs/UPI Apps eligible for Public Issues shall send SMS Alerts to Investors for all ASBA applications and may also provide the Invoice in the Inbox as an additional feature to verify the UPI mandate details.
These modifications have been implemented basis feedback received from market intermediaries
