Description

SEBI extends compliance timelines for Rights of Persons with Disabilities Act implementation and updates reporting authority for Investment Advisors and Research Analysts to BSE Ltd.

Summary

SEBI has granted timeline extensions for compliance with the Rights of Persons with Disabilities Act, 2016 circular issued on July 31, 2025, and updated the reporting authority for Investment Advisors (IAs) and Research Analysts (RAs) from BASL/SEBI to BSE Ltd.

Key Points

  • Timeline extensions granted based on representations from Regulated Entities
  • Reporting authority for IAs and RAs changed to BSE Ltd. for both categories
  • Extensions range from 1 month to next financial year depending on compliance requirement
  • All digital platforms must meet accessibility standards for persons with disabilities

Regulatory Changes

  • Reporting Authority Update: IAs and RAs must now report to BSE Ltd. instead of BASL and SEBI respectively
  • Stock Brokers/Depository Participants continue reporting to Stock Exchanges/Depositories
  • MIIs and other REs continue reporting to SEBI

Compliance Requirements

  1. Compliance Report Submission: Submit action plan and compliance status
  2. Digital Platform List: Provide inventory of all digital platforms offered to investors
  3. IAAP Certified Auditor Appointment: Engage accessibility professionals for auditing
  4. Accessibility Audit Conduct: Complete comprehensive platform assessments
  5. Remediation: Fix identified accessibility issues and ensure compliance
  6. Annual Compliance: Conduct yearly accessibility audits and submit reports

Important Dates

  • September 30, 2025: Compliance report and digital platform list submission
  • December 14, 2025: IAAP certified accessibility professional appointment
  • April 30, 2026: Complete accessibility audit
  • July 31, 2026: Complete remediation of audit findings
  • April 30, 2027: Submit first annual compliance report
  • Ongoing: Annual accessibility audits due April 30 each financial year

Impact Assessment

Operational Impact: Regulated entities receive significant timeline relief (1-18 months extensions) to implement digital accessibility measures. The centralized reporting to BSE Ltd. for IAs and RAs may streamline compliance processes but requires updating internal reporting procedures. All digital platforms serving investors must be made accessible to persons with disabilities, requiring technical upgrades and ongoing monitoring.

Impact Justification

Administrative changes with extended timelines affecting all regulated entities' digital accessibility compliance