ICSI advises for Ensuring Compliance with Various Regulations/ Circulars issued by SEBI:

ICSI advises for Ensuring Compliance with Various Regulations/ Circulars issued by SEBI The Institute of Company Secretaries of India(ICSI) has issued an advisory for Ensuring Compliance with Various Regulations/ Circulars Issued by SEBI and Stock Exchanges. The Advisory stated as follows: The Regulators i.e. Securities Exchange Board of India and the Stock Exchanges have reposed confidence in the profession of Company Secretaries and have recognised Company Secretaries in Practice for issuance of Certificates, Reports and conduct audit under various Regulations and Circulars issued by them from time to time. The details of few are as under for reference: -

• SEBI (Depositories and Participants) Regulations, 2018,
• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
• SEBI (Investment Advisers) Regulations, 2013,
• SEBI (Delisting of Equity Shares) Regulations, 2021,
• SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021,
• SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018,
• SEBI (Buy-Back of Securities) Regulations, 2018,
• SEBI (Infrastructure Investment Trusts) Regulations, 2014,
• SEBI (Real Estate Investment Trusts) Regulations, 2014,
• BSE/NSE Circulars w.r.t. compliance with Structured Digital Database under SEBI (Prohibition of Insider Trading) Regulations, 2015 and many alike.

To further strengthen the effectiveness of the certification/ audit/ report issued by Company Secretaries in Practise and to protect the interests of investors and stakeholders as a whole, Company Secretaries in Practise are advised to thoroughly check minute regulatory compliance on the part of the client, maintain updated checklists to cross verify the compliances, and be inquisitive w.r.t. compliances. All Company Secretaries in Practise are also expected to report non-compliances with applicable provisions, penalties imposed, and show cause notices served during the period under review to the company or its directors & KMP by the SEBI, MCA, RBI, Stock Exchanges, or any other Regulator, in order to reflect the true picture of governance standards. This advisory is being issued in order to encourage fellow Company Secretaries to uphold governance culture and ensure compliances as a whole.