SEBI vide circular dated August 19, 2022 has issued directions to all Asset Management Companies Participating as Financial Information Providers(FIP) in Account Aggregator framework. The Non-Banking Financial Company –Account Aggregator Master Directions allows Asset Management Companies (AMCs) to function as Financial Information Providers through their Registrar and Transfer Agents (RTAs) and the Depositories.
There shall be adequate safeguards built in IT systems of FIPs in the securities markets to ensure that it is protected against unauthorized access, alteration, destruction, disclosure or dissemination of records and data. The FIPs in the securities markets shall also abide by the code of conduct as specified in the SEBI regulations applicable to them, including redressal of grievances of the customers.
The FIPs in the securities markets shall continue to comply with all the regulatory provisions under the SEBI Act, 1992, Depositories Act, 1996 and the regulations framed thereunder. The provisions of this circular shall come into force with immediate effect.
