INDIA: BASL Receives SEBI Approval to Act as an Accreditation Agency for Accrediting Eligible Investors

Monday November 29 2021

On 26^th November 2021, the Bombay Stock Exchange (BSE) announced that its wholly owned subsidiary BSE Administration & Supervision Ltd. (BASL) has received SEBI approval to act as an Accreditation Agency for carrying out proposed activity of accreditation to prospective Accredited Investors (AI). BSE plans to carry out this activity through its subsidiary BASL – BSE Administration & Supervision Ltd.

Earlier, in the month of August 2021, SEBI had introduced a concept of ‘Accredited Investors’ in the Indian Securities market, wherein a person or an entity will be issued a certificate as an accredited investor based on defined criteria. As per SEBI, these accredited investors may avail flexibility in minimum investment amount or concessions from specific regulatory requirements applicable to investment products, subject to conditions applicable for specific products/ services under the relevant Regulations.

As an accreditation agency, BASL shall be responsible for verification of documents submitted by applicants for accreditation, issuance of accreditation certificate, maintaining data of accredited investors, verification of accreditation status, and any other responsibilities as may be specified by SEBI from time to time.

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