SEBI and RTA going to jointly build a common platform for mutual fund investors

Securities and Exchange Board of India has urged registrar and transfer agents (RTA) to jointly build a common platform for serving future and existing mutual fund investors. It will allow all investors to put both service requests and transactions.

The investors will be provided access to the platform in the primary phase, and RTAs-KFintech and CAMS will mutually build it. “At first, the platform can be utilized to complete 17 non-financial transactions,” says a senior authority in the mutual fund industry, Money Control reported. 

The investors can demand consolidated statements across mutual fund houses regulated by both RTAs utilizing mail-back services. Nonetheless, this new system is going to bring much more in mutual funds investors in the future. The change of contact details or changes in the bank account will be much more accessible via a digital platform.

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SEBI said RTAs, AMCs, and depositories would take the essential measures to give information to investors on a real-time basis to the proposed new system. 

Furthermore, depositories and RTAs will likewise share their data feeds for the age of investment-related reports. 

Over the long haul, the proposed new platform may offer assistance to the registered investment advisors, distributors, AMCs, Stock Exchanges, and digital tools for transactions in mutual funds to expand the servicing and investing ease for the investors.

Moreover, APIs could be presented to other industry partners with the due endorsement of the concerned mutual funds on commonly concurred terms, it added.