Sebi urges intermediaries to join accounts aggregator framework

The Securities and Exchange Board of India (Sebi) has directed stock market intermediaries such as asset management companies (AMCs) and depositories to join the account aggregator framework introduced by the Reserve Bank of India (RBI).

The market regulator also set rules that will specifically be applicable to players in the stock market ecosystem joining the aggregator framework.

The account aggregator is an RBI-regulated non-banking financial company (NBFC). It facilitates retrieval or collection of financial information pertaining to a customer from financial information providers (FIP). It is on the basis of explicit consent of the customer.

“The FIPs in the securities