Source: Mint
Context:
The Securities and Exchange Board of India (SEBI) is exploring the creation of a consolidated statement of all financial assets of an individual, in collaboration with other financial sector regulators. The move is aimed at simplifying access to investment information and empowering households with a holistic view of their financial holdings.
Key Highlights:
- Consolidated Statement:
- SEBI chairman Tuhin Kanta Pandey proposed a single statement reflecting all financial assets across markets.
- The initiative will be taken forward through the inter-regulatory forum, involving other financial regulators.
- Current Scenario:
- Investors can currently access consolidated holdings within securities markets (equities, debt, mutual funds) through depositories.
- Simplifying Investor Onboarding:
- SEBI is considering allowing intermediaries access to supplementary account opening form (AOF) data via KYC registration agencies (KRAs).
- Objective: Reduce repetitive document submission and ensure clean, verified, and consistent data across intermediaries.
- Regulatory Strengthening:
- SEBI has enhanced governance and risk-management oversight for top 2,000 listed firms.
- A review of regulations for mutual funds, stockbrokers, and listing obligations is underway.
