Description

SEBI mandates all regulated entities to ensure digital platforms comply with accessibility provisions for persons with disabilities by specified timelines.

Summary

SEBI has issued a mandatory circular requiring all regulated entities to ensure their digital platforms comply with the Rights of Persons with Disabilities Act, 2016. This includes stockbrokers, mutual funds, depositories, clearing corporations, and other intermediaries who must implement accessibility features within specified timelines and undergo certified audits.

Key Points

  • All digital platforms of SEBI regulated entities must comply with RPwD Act, 2016 provisions
  • Compliance required for Sections 40, 42, 46 of RPwD Act and Rule 15(1)(c) of RPwD Rules 2017
  • Mandatory appointment of IAAP certified accessibility professionals as auditors
  • Phased implementation with strict timelines over 6 months
  • Annual compliance reporting required within 30 days of financial year end
  • Applies to all registered intermediaries and Market Infrastructure Institutions

Regulatory Changes

  • New mandatory accessibility standards for digital platforms
  • Introduction of certified accessibility audit requirements
  • Establishment of structured reporting mechanism through Stock Exchanges, Depositories, and BASL
  • Annual compliance monitoring framework

Compliance Requirements

  • Within 1 month: Submit list of digital platforms and initial compliance report
  • Within 45 days: Appoint IAAP certified accessibility professionals as auditors
  • Within 3 months: Complete accessibility audit of all digital platforms
  • Within 6 months: Remediate audit findings and ensure full compliance
  • Ongoing: Annual compliance reporting within 30 days of financial year end
  • Refer to Annexure I for detailed accessibility implementation directions

Important Dates

  • Circular Date: July 31, 2025
  • Immediate Effect: Provisions applicable from circular date
  • 1 Month Deadline: August 31, 2025 - Platform list and compliance report submission
  • 45 Days Deadline: September 14, 2025 - Auditor appointment and audit initiation
  • 3 Months Deadline: October 31, 2025 - Audit completion
  • 6 Months Deadline: January 31, 2026 - Full compliance achievement
  • Annual Reporting: Within 30 days from end of each financial year

Impact Assessment

Operational Impact: All regulated entities must invest in accessibility infrastructure, professional audits, and ongoing compliance monitoring. This will require significant technical upgrades to existing digital platforms and establishment of new governance processes.

Market Impact: Enhanced accessibility will improve market participation for persons with disabilities, potentially expanding investor base. However, entities may face increased operational costs and implementation challenges in the short term.

Compliance Risk: Non-compliance could result in regulatory action, making this a high-priority initiative for all affected entities.

Impact Justification

Mandatory compliance requirement affecting all SEBI regulated entities with strict timelines and audit requirements