SEBI mandates depositories to disclose regulatory orders and arbitration awards

The Securities and Exchange Board of India (“SEBI”) vide its circular dated June 10, 2010 has ordered the depositories (i.e. National Securities Depository Limited and the Central Depository Services Limited) to make available to the investors (i) all the regulatory orders, i.e. orders against listed companies, depository participants, trading / clearing members; and (ii) all the arbitration awards; issued by them. Depositories have been asked to post all such orders and arbitration awards that have been issued till April 1, 2007 on their websites, within thirty days from the date of the circular (i.e. on or before July 10, 2010). All further orders and arbitration awards will also have to be published immediately on the websites of the depositories, as and when they are issued.

Depositories have been further advised to publish the provisions of this circular on their websites and also submit to SEBI, a Monthly Development Report notifying the status of implementation of this circular.