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TMI BlogModifications to provisions of Chapter XXI of NCS Master Circular dealing with registration and regulatory framework for Online Bond Platform Providers (OBPPs)X X X X Extracts X X X X X X X X Extracts X X X X ..... truments, Security Receipts, Municipal Debt Securities and Commercial Paper dated July 07, 2023] specifies the provisions for registration and regulatory framework for OBPPs. Representations have been received from Stock Exchanges and market participants including online bond platforms seeking relaxations from certain provisions of the said chapter. The proposed modifications shall aid in ease of doing business for OBPPs. 2. In light of the above, the following provisions stand modified as under: 2.1 Clause 5.2 of the NCS Master Circular is substituted and shall read as under: "An entity acting as an Online Bond Platform Provider shall offer only the following products or securities or services on its Online Bond Platform: 5.2.1. L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such tab/ link, the following disclaimer shall be displayed at all times in legible font: "< Name of the product > is regulated by < RBI/ IRDAI/ PFRDA >" In case the Online Bond Platform Provider offers products or securities or services that are regulated by SEBI on its online bond platform or any other platform/ website, the relevant SEBI regulations as applicable to the product / security / service shall apply." 2.4 Clause 3.2 of Annex-XXI-A of the NCS Master Circular is substituted and shall read as under: "Agreement with sellers of products or securities or services as specified in clause 5.2.1 to 5.2.4 of this Chapter: Where the entity allows third party sellers of products or securities or services as specified in clause 5. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... action which shall inter-alia include date and time of placing of the order, date and time of settlement of the order, details of counter-parties involved, quantity and amount transacted, as may be applicable. 3.6.3. Quote receipt to seller post execution of the order: The entity, post execution of order, in case of third party sale of debt products or securities or services on the OBP, shall issue without delay to the seller, a quote receipt which shall, inter-alia, include date and time of quote, details of counter-parties involved, quantity and amount quoted, etc." 2.7 Para 10 of Advertisement Code for OBPPs (Annex-XXI-C of the NCS Master Circular) is substituted and shall read as under: "All advertisements shall be accompanied by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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