Capital markets regulator Sebi has made it a requirement for stock brokers and depositories to maintain websites with the intention to bring in transparency.
Function
A designated website, asides from providing transparency, would help investors stay well informed about the various activities of the Stock broker (SB) and Depository participant (DP).
Keeping this in mind and taking into consideration the advancement in technology and the need to provide better services to the investors, all SBs and DPs have to now maintain a designated website.
Site contents
These sites would compulsorily display basic details of the SB/DP such as registration number, registered address of head office and branches and names and contact details such as E-mail IDs, etc of all key managerial personnel, including compliance officers.
Further, the website will have to display step-by-step procedures for opening an account, filing a complaint on a designated E-mail ID, and finding out the status of the complaint and details of authorised persons.
Further requirements
This new requirement will come into effect from August 16.
The URL to the website will have to be reported to the stock exchanges or depositories within a week of this circular coming into effect.
Any modification in the URL needs to be reported within three days of such changes.
