Nithyakalyani Narayanan. V
The Securities and Exchange Board of India (SEBI) issued a notification on July 3, 2023, that has introduced amendments to the Alternative Dispute Resolution (ADR) Mechanism Regulations. These amendments are for the enhancement of the ADR process in the securities market.
The Board exercised its powers as per the SEBI Act 1992, to introduce the amendments to the regulations. The amendments make it compulsory for the submission of all claims, differences, or disputes to a dispute resolution mechanism including mediation, conciliation, and arbitration as allowed by the SEBI. The amendments guarantee a regulated procedure for dispute resolution between market participants, clients, and investors that promotes fairness and efficiency.
The Securities and Exchange Board of India (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023 to amend the following:
- Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992,
- Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993,
- Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993,
- Securities and Exchange Board of India (Mutual Funds) Regulations, 1996,
- Securities and Exchange Board of India (Custodian) Regulations, 1996,
- Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999,
- Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999,
- Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011,
- Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012,
- Securities and Exchange Board of India (Investment Advisers) Regulations, 2013,
- Securities and Exchange Board of India (Research Analysts) Regulations, 2014,
- Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014,
- Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014,
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,
- Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019,
- Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020,
- Securities and Exchange Board of India (Vault Managers) Regulations, 2021.