SEBI Updates Timelines for Consolidated Account Statement Issuance by Depositories

The Securities and Exchange Board of India (SEBI) has modified the timelines for issuing Consolidated Account Statements (CAS) to improve compliance efficiency. As per a circular issued on Friday, depositories will now have revised deadlines for dispatching CAS, with changes affecting both monthly and half-yearly statements.

Updated Deadlines for Monthly CAS

Under the new framework, asset management companies (AMCs) and mutual fund registrar and transfer agents (MF-RTAs) must submit common PAN data to depositories within five days from the end of each month, extending the earlier three-day limit.

Once the data is received, depositories will consolidate and send CAS to investors who have opted for electronic delivery by the 12th day of the month. For those preferring physical copies, statements will be dispatched by the 15th day from the month-end.

Changes in Half-Yearly CAS Issuance

For half-yearly CAS, SEBI has mandated that AMCs and MF-RTAs must provide common PAN data to depositories by the 8th of April and October every year. Depositories will then send e-CAS by the 18th of April and October, while physical copies will be dispatched by the 21st of the respective months.

Additionally, SEBI has revised the CAS issuance rules for accounts with no transactions. If an investor has activity in their demat account or mutual fund folios, CAS will continue to be sent monthly via email. If no transactions occur, a CAS containing holding details will be sent on a half-yearly basis.

Conclusion

The revised CAS issuance framework by SEBI introduces extended timelines for monthly and half-yearly statements, offering greater flexibility for AMCs, MF-RTAs, and depositories. These changes will take effect from 14 May 2025.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.