Adherence to provisions of regulation 51A of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 by Online Bond Platform Providers on product offerings on Online Bond Platforms - SEBI - SEBI/HO/DDHS/POD1/P/CIR/2023/092

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..... form, on which the debt securities which are listed or proposed to be listed, are offered and transacted. 2. SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2022/154 dated November 14, 2022 ( OBP Circular ) provides for the registration and regulatory framework for Online Bond Platform Providers. Clause 5.2 of the OBP circular reads as follows: An entity acting as an OBPP on or prior to this circular coming into force, shall cease to offer products or services or securities on its OBP other than the following: 5.2.1. Listed debt securities and 5.2.2. Debt securities proposed to be listed through a public offering. Such OBPP shall divest itself of offerings of other products or services or securities. 3. While a few Online Bond Platform Provid .....

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Adherence to provisions of regulation 51A of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 by Online Bond Platform Providers on product offerings on Online Bond Platforms - SEBI

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..... rated that an entity acting as an Online Bond Platform Provider shall divest itself of offerings of other products/ securities or services. 6.3. A holding company, subsidiary or associate of an Online Bond Platform Provider or any third party shall not utilize the name/ brand name/ any name resembling to that of the Online Bond Platform Provider or the Online Bond Platform for undertaking any activity or offering products/ securities or services (including offering of unlisted securities) that are not regulated by a financial sector regulator viz. SEBI, RBI, IRDAI, or PFRDA. 6.4. An Online Bond Platform Provider shall not have on its Online Bond Platform or any other platform/ website, any link or tab to websites/ platforms of its holding c .....

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..... ular stand revised as under: 5.2 An entity acting as an Online Bond Platform Provider on or prior to November 14, 2022, shall divest itself of offerings of products or services or securities on its Online Bond Platform or any other website/ platform other than the following: 5.2.1 Listed debt securities, listed municipal debt securities and listed securitised debt instruments; 5.2.2 Debt securities, municipal debt securities and securitised debt instruments proposed to be listed through a public offering; 5.2.3 Listed Government Securities, State Development Loans and Treasury Bills; and 5.2.4 Listed Sovereign Gold Bonds. 8. Investor Grievance Redress Mechanism - Online Bond Platforms: In line with the Master Circular no. SEBI/HO/MIRSD/MIRS .....

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..... cular shall come into force with immediate effect. 13. The Stock Exchange(s) are directed to: 13.1. bring the provisions of this circular to the notice of Stock Brokers/ Online Bond Platform Providers and also disseminate the same on their websites; 13.2. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above directions in coordination with one another to achieve uniformity in approach and communicate to SEBI; and 13.3. monitor the operations carried out by Online Bond Platform Providers. 14. This Circular is available at www.sebi.gov.in under the link Legal Circulars . Yours faithfully, Pradeep Ramakrishnan General Manager Department of Debt and Hybrid Securities +91-22-26449246 pradee .....

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