Sebi's Revised CAS Timelines Streamline Investor Communication

Sebi has updated timelines for issuing Consolidated Account Statements to improve compliance. AMCs and MF-RTAs now have five days to share PAN data with depositories. Monthly e-CAS is dispatched by the 12th, physical copies by the 15th. The changes take effect from May 14.

In a move to simplify compliance, the Securities and Exchange Board of India (Sebi) has revised the timelines for issuing Consolidated Account Statements (CAS). The changes, announced on Friday, require asset management companies (AMCs) and mutual fund registrar and transfer agents (MF-RTAs) to provide common PAN data to depositories within five days from the end of each month, instead of the previous three-day timeframe.

According to Sebi's new guidelines, depositories will consolidate and dispatch e-CAS to electronic delivery customers by the 12th day of the month and to those preferring physical copies by the 15th day. For half-yearly CAS, data sharing will occur by April 8 and October 8, with dispatch completed by the 18th and 21st of the respective months.

Revised provisions also account for accounts with no transactions. Investors can choose between email and physical CAS delivery. These updates are effective as of May 14, as per Sebi's circular, streamlining communication between investors and the financial sector.