Sebi mulls softer rules for non-convertible securities

Markets regulator Sebi on Friday proposed to ease the rules for issuers of nonconvertible securities by replacing the requirement of sending a hard copy of financials and annual reports to security holders with a web link and quick response (QR) code to access the same.

- Press Trust of India

The relaxation from sending physical copies of financials will result in cost savings and prevent paper wastage. Also, this would lead to regulatory consistency and ease of doing business.

In its consultation paper, Sebi suggested that issuers should send a letter providing the quick response code and web link, including the exact path, where complete details of the annual report are available, to holders of nonconvertible securities.