Latest News | Depositories, DPs Need to Preserve Records for at Least 8 Years: Sebi

New Delhi, Aug 18 (PTI) Markets regulator Sebi on Tuesday said depositories and depository participants need to preserve the records and documents for a minimum period of eight years.

The regulator has issued a corrigendum to its circular issued in October 2019, wherein it was mentioned that such records need to be maintained for five years.

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In the fresh circular, Sebi said, "Depositories and depository participants (DPs) are required to preserve the records and documents for a minimum period of 8 years".

Further, they are required to preserve original forms of documents either in physical form or an electronic record, copies of which have been taken by any enforcement agency during the course of their investigation.

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Depositories allow investors to deposit securities by opening an account in electronic form (dematerialised), gets its revenues from transaction, account maintenance and settlement charges paid by depository participants as well as annual fees, corporate action and e-voting charges paid by companies whose securities are admitted in the depositories' system.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)