Description

SEBI extends timelines for compliance with Rights of Persons with Disabilities Act, 2016 and updates reporting authority for Investment Advisors and Research Analysts.

Summary

SEBI has extended compliance timelines for all regulated entities regarding the Rights of Persons with Disabilities Act, 2016 digital accessibility requirements. The circular provides significant extensions ranging from 1 month to next financial year for various compliance activities and updates the reporting authority for Investment Advisors and Research Analysts from BASL/SEBI to BSE Ltd.

Key Points

  • Timeline extensions granted based on representations from regulated entities
  • Compliance report submission extended by 1 month to September 30, 2025
  • Digital platforms list submission extended by 1 month to September 30, 2025
  • IAAP certified accessibility professional appointment extended by 3 months to December 14, 2025
  • Accessibility audit conduct extended by 6 months to April 30, 2026
  • Remediation of audit findings extended by 6 months to July 31, 2026
  • Annual compliance reporting moved to next financial year (April 30, 2027)
  • Reporting authority for IAs and RAs changed from BASL/SEBI to BSE Ltd.

Regulatory Changes

  • Updated reporting authorities: Stock Brokers/Depository Participants report to Stock Exchanges/Depositories, Investment Advisors and Research Analysts report to BSE Ltd., MIIs and other regulated entities report to SEBI
  • Centralized reporting for IAs and RAs under BSE Ltd. instead of separate authorities

Compliance Requirements

  • Submit compliance/action report pertaining to digital accessibility circular clauses
  • Provide list of digital platforms offered to investors
  • Appoint IAAP certified accessibility professionals as auditors
  • Conduct accessibility audits for all digital platforms
  • Remediate findings from audits to ensure compliance
  • Submit annual accessibility audit reports going forward

Important Dates

  • September 30, 2025: Compliance report and digital platforms list submission
  • December 14, 2025: IAAP certified accessibility professional appointment
  • April 30, 2026: Complete accessibility audit conduct
  • July 31, 2026: Complete remediation of audit findings
  • April 30, 2027: First annual compliance report due

Impact Assessment

The extensions provide regulatory relief to all regulated entities struggling with digital accessibility compliance implementation. The consolidation of reporting authority for IAs and RAs under BSE Ltd. streamlines the process. While this reduces immediate compliance pressure, entities must still prepare for eventual full implementation of digital accessibility requirements for persons with disabilities.

Impact Justification

Regulatory compliance extension affects all regulated entities but provides relief rather than imposing new restrictions