Complete guide to SEBI & depository registration for DPs covering CDSL/NSDL operations, capital requirements, client account management, and compliance obligations
Three-step pathway to become a registered Depository Participant with CDSL or NSDL
Apply to CDSL or NSDL for DP admission. Meet eligibility criteria including net worth, infrastructure requirements, and qualified personnel. Execute participant agreement
Submit application to SEBI with depository admission letter, organizational details, financial information, compliance framework, and key personnel qualifications
Obtain SEBI registration certificate and depository approval. Commence demat account operations, client onboarding, and maintain ongoing compliance obligations
Essential compliance areas for Depository Participants under SEBI and depository regulations
Maintain accurate demat account records, process dematerialization/rematerialisation requests promptly, ensure proper pledging and unpledging of securities, and maintain correct balances at all times
Execute SEBI-prescribed account opening documents with clients, provide mandatory KYC, nomination forms, tariff schedules, and rights & obligations document to every beneficial owner
Maintain all DP records for a minimum of 8 years including account opening forms, transaction records, correspondence, audit trails, and client communications as per depository bye-laws
Implement maker-checker controls for transactions, conduct periodic internal audits, maintain segregation of duties, ensure system security, and comply with depository operational instructions
Key eligibility criteria and operational requirements for DP registration
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