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SEBI Update: SEBI Updates Investor Charter for RTAs

SEBI Update: SEBI Updates Investor Charter for RTAs

The Securities and Exchange Board of India (“SEBI”) in exercise of powers conferred under Section 11(1) of Chapter IV of the Securities and Exchange Board of India Act,  1992 read with Regulation 15(D) of the SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993, vide Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/67,[1] dated May 14, 2025, (“Circular”), updated the investor charter for Registrars  to  an  Issue  and  Share  Transfer  Agents (“RTAs”). The provisions of this circular come into force with immediate effect.

SEBI had earlier introduced an Investor Charter for RTAs through its circular dated November 26, 2021, and Clause 29 of the Master Circular for RTAs dated May 07, 2024. In light of recent developments such as the introduction of the Online Dispute Resolution (ODR) platform and SCORES 2.0, SEBI has revised the Investor Charter to enhance investor protection, financial inclusion, and transparency.

This circular rescinds the SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/670 dated November 26, 2021. Further, Clause 29 of the Master Circular dated May 07, 2024, has been amended accordingly.

Key Highlights pertaining to the Investor Charter for RTAs

  1. Updated Investor Charter: A revised Investor Charter for RTAs has been released (the same has been attached as Annexure A of the Circular), following consultations with the Industry Standards Forum (ISF).
  2. Mandatory Dissemination: All registered RTAs must communicate the updated Investor Charter to both existing and new shareholders by:
    either uploading it on their official websites and sending via email or by
    displaying it prominently in office premises.
  3. RAIN Website Disclosure: The Registrar Association of India (RAIN) shall also be required to host the Investor Charter on its official website.
  4. Monthly Complaint Disclosure: RTAs must continue disclosing data related to investor complaints (received and resolved) on their websites by the 7th of the succeeding month, in the format provided in Annexure B of the Circular.

[1] https://www.sebi.gov.in/legal/circulars/may-2025/investor-charter-for-registrars-to-an-issue-and-share-transfer-agents-rtas-_93919.html