Telangana High Court: Barring People with over Two Children From Polls Violates No Fundamental Right  ||  Del HC Clarifies That Breach of Promise to Marry is Not The Same as False Promise Amounting To Rape  ||  Delhi High Court Rules Law Students Cannot be Barred From Exams For Not Meeting Minimum Attendance  ||  Delhi HC: Only a Sessions Court, Not an Ilaqa Magistrate, Can Order Further Probe After Committal  ||  Allahabad High Court: Protecting Homebuyers’ Interests is Paramount in Real Estate Insolvency  ||  Allahabad HC: Police Can Freeze Accounts on Suspicion; Affected Party May Seek Magistrate’s Relief  ||  NCLAT: Claimants Must Prove Asset Ownership; Liquidator Need Not Establish Title of Assets in Custody  ||  NCLAT: Director’s Resignation Doesn’t Release Personal Guarantor from Continuing Guarantee Liability  ||  NCLAT: Delay Condonable When Composite Appeal Filed in Time is Refiled after Registry’s Objection  ||  Supreme Court: Upper Floors Can be Converted for Commercial Use Only after Paying Conversion Charges    

PFRDA notifies amendments to Trustee Bank (TB) and Central Recordkeeping Agency (CRA) Regulations- (Press Information Bureau) (22 Feb 2024)

MANU/PIBU/0200/2024

Service

The Pension Fund Regulatory and Development Authority (PFRDA) has notified the Trustee Bank (TB) (Amendment) Regulations, 2023 and the Central Recordkeeping Agency (CRA) (Amendment) Regulations, 2023 on 09.02.2024.

The amendments to Trustee Bank (TB) Regulations simplify and strengthen the provisions related to implementation of fraud prevention and mitigation policy, compensation to the subscriber, invitation of application for new registration and surrender of certificate of registration.

Amendments to Central Recordkeeping Agency (CRA) Regulations simplify and strengthen the provisions related to governance of CRA in line with Companies Act, 2013 and enhanced disclosure of information by CRA. The other notable amendments inter alia include:

i. Implementation of fraud prevention and mitigation policy by CRA to protect the interest of subscribers.

ii. Inclusion of certificate by CEO in the annual report in respect of adequacy and effectiveness of internal controls, compliance and audit processes.

iii. Criteria of 'fit and proper person' has been introduced for CRA and its key personnel.

The amendments in key areas aim at simplification and reducing compliance burden.

The above simplifications are in line with Union Budget 2023-24 announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business.

Tags : AMENDMENTS   TRUSTEE BANK   REGULATIONS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved