Raj. HC: No Jurisdiction on DRT to Modify Settlement Terms in Appli. Filed after Disposal of Matter  ||  Kar. HC: Second Petition u/s 482 of CrPC Not Maintainable Unless Founded Upon Change in Circumstance  ||  Centre to Delhi HC: In Process of Framing Rules Under New Online Gaming Act  ||  Karnataka HC: Compelling DNA Tests without Imminent Need becomes Violative of Article 21  ||  SC: TET Qualification Mandatory for Teachers in Minority Institutions  ||  SC: Agreement to Sell Does Not Confer a Valid Title on a Party as it is Not a Deed of Conveyance  ||  SC Criticizes NGT for Outsourcing its Responsibilities to External Committees  ||  SC: No Culprit Should Manage an Acquittal on the Basis of Unreasonable Doubts  ||  Delhi High Court Dismisses Bail Pleas of Umar Khalid and Other Accused in 2020 Delhi Riots Case  ||  Supreme Court Judges Launch Schemes for Human -Wildlife Conflict    

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