Markets regulator Sebi today put in place detailed guidelines to streamline and strengthen procedures with regard to handling and maintenance of records, transfer of securities, and payment of dividend by registrar and share transfer agents.
Besides, the norms are applicable for issuer companies and bankers to an issue.
The guidelines will broadly deal with areas like payment of dividend, interest and redemption; correction of errors; and compulsory internal audit of RTAs (registrar and share transfer agents), Sebi said in a circular.
The prescribed documents need to be maintained for period not less than eight years after completion of the relevant transactions by bankers to an issue, issuer companies or by RTAs on behalf of such firms.
Also, issuer companies will have…
