SEBI's Bold Step: Expanding Bond Platform Horizons
SEBI proposes to allow Online Bond Platform Providers (OBPPs) to offer products regulated by the International Financial Services Centres Authority and certain tax-saving bonds. Aimed at easing business operations, the proposal seeks public commentary and signifies efforts to refine regulations and improve bond market efficiency.
The Securities and Exchange Board of India (SEBI) is considering a proposal to enable Online Bond Platform Providers (OBPPs) to offer products regulated by the International Financial Services Centres Authority (IFSCA), alongside certain tax-saving bonds.
Currently, OBPPs can only provide services regulated by SEBI and other Indian financial regulators like the RBI, IRDAI, and PFRDA.
This change, proposed in a consultation paper, aims to enhance business ease and align compliance requirements for OBPPs more closely with those of stock brokers, following feedback from stakeholders including the Institute of Chartered Accountants of India (ICAI). Public comments are invited until May 26.
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