On 09-12-2022, the Securities and Exchange Board of India published the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2022 which introduces a chapter on online bond platform providers.
Key points:
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No person shall act as an online bond platform provider without a certificate of registration from the Board as a stock broker under the SEBI (Stock Brokers) Regulations, 1992.
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A person acting as an online bond platform provider without the certificate of registration on or prior to the date of this regulation coming into force, may continue to do so for a period of three months from the date of this regulation coming into force or such other time period as may be specified by the Board, or if it has made an application for grant of a certificate of registration within the specified period, till the disposal of such application by the Board.
Note: The term “online bond platform provider” means any person operating or providing an online bond platform and “online bond platform” means any electronic system, other than a recognised stock exchange or an electronic book provider platform, on which the debt securities which are listed or proposed to be listed, are offered and transacted.”
