NCLT: Suspended Directors Who are Prospective Resolution Applicants Cann’t Access Valuation Reports  ||  Supreme Court Clarifies Test For Granting Bail to Accused Added at Trial under Section 319 CrPC  ||  SC: Fresh Notification For Vijayawada ACB Police Station not Required After AP Bifurcation  ||  SC: Studying in a Government Institute Does Not Create an Automatic Right to a Government Job  ||  NCLT Mumbai: CIRP Claims Cannot Invoke the 12-Year Limitation Period For Enforcing Mortgage Rights  ||  NCLAT: Misnaming Guarantor as 'Director' in SARFAESI Notice Doesn't Void Guarantee Invocation  ||  Jharkhand HC: Mere Breach of Compromise Terms by an Accused Does Not Justify Bail Cancellation  ||  Cal HC: Banks Cannot Freeze a Company's Accounts Solely Due To ROC Labeling a 'Management Dispute'  ||  Rajasthan HC: Father’s Rape of His Daughter Transcends Ordinary Crime; Victim’s Testimony Suffices  ||  Delhi HC: Judge Who Reserved Judgment Must Deliver Verdict Despite Transfer; Successor Can't Rehear    

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 2026 - All Rights Reserved