Markets regulator Sebi on Tuesday mandated email as a default mode of dispatch of 'Consolidated Account Statement', which provides an account of securities traded by an investor, by depositories and Mutual FundRegistrar and Transfer Agents (MF-RTAs).
The new framework will come into force from April 1, the Securities and Exchange Board of India (Sebi) said in a circular.
A Consolidated Account Statement (CAS) is a single or combined account statement which shows the details of financial transactions made by an investor during a month across all mutual funds and also other securities held in dematerialised (demat) mode.
The CAS is dispatched to the investors by the depositories (NSDL or CDSL), providing the details of financial transactions in both mutual fund folios and depository accounts if PANs are common across the RTAs and the depositories.
In respect of mutual fund folios, where there is no common PAN between the RTAs and the depositories, the CAS is sent by mutual funds ...
