Description

SEBI mandates all regulated entities to ensure their digital platforms comply with Rights of Persons with Disabilities Act, 2016 with specific implementation timelines.

Summary

SEBI has issued a mandatory circular requiring all regulated entities (stock exchanges, brokers, mutual funds, depositories, etc.) to ensure their digital platforms comply with the Rights of Persons with Disabilities Act, 2016. The circular establishes specific timelines for implementation, audit requirements, and annual compliance reporting to ensure accessibility for persons with disabilities in securities markets.

Key Points

  • All SEBI regulated entities must make their digital platforms compliant with RPwD Act, 2016
  • Compliance specifically required for Sections 40, 42, 46 of the Act and Rule 15(1)(c) of RPwD Rules, 2017
  • Mandatory appointment of IAAP certified accessibility professionals as auditors
  • Phased implementation with specific milestones over 6 months
  • Annual compliance reporting required within 30 days of financial year end

Regulatory Changes

  • New mandatory accessibility standards for all digital platforms of SEBI regulated entities
  • Introduction of accessibility audit requirements by certified professionals
  • Establishment of structured compliance reporting framework
  • Coverage extends to all intermediaries including stockbrokers, mutual funds, KYC agencies, QRTAs, and market infrastructure institutions

Compliance Requirements

  • Within 1 month: Submit list of digital platforms and compliance/action taken report
  • Within 45 days: Appoint IAAP certified accessibility professionals as auditors
  • Within 3 months: Complete accessibility audit of digital platforms
  • Within 6 months: Remediate audit findings and ensure full compliance
  • Ongoing: Annual compliance reporting within 30 days of financial year end

Important Dates

  • Circular Date: July 31, 2025
  • Effective Date: Immediate (from date of circular)
  • First Milestone: Within 1 month of issuance
  • Auditor Appointment: Within 45 days
  • Audit Completion: Within 3 months
  • Full Compliance: Within 6 months
  • Annual Reporting: Within 30 days of each financial year end

Impact Assessment

Market Impact: High - affects all participants in securities market ecosystem including exchanges, brokers, mutual funds, and other intermediaries. Requires significant technology infrastructure updates and process changes.

Operational Impact: High - entities must invest in accessibility audits, platform modifications, and ongoing compliance monitoring. May require substantial technology upgrades and staff training.

Compliance Cost: Significant investment required for audit fees, platform remediation, and ongoing compliance management across all digital touchpoints.

Impact Justification

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