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BSE launches portal for RTA disclosures
Highlights
BSE launches portal for RTA disclosures
Mumbai: Leading stock exchange BSE on Friday launched a web-based RTA portal to enable depositories as well as registrars and share transfer agents file disclosures. The move follows Sebi's decision to initiate a system involving the stock exchanges, depositories as well as registrars and share transfer agents (RTAs) for generating system-based disclosures required under takeover regulations and insider trading norms.
The disclosures are related to acquisition/disposal of shares by promoters/promoter group and pledge of equity shares by them. "Today, the exchange launched the web-based RTA portal for System Driven Disclosures for Depositories and Registrars and Share Transfer Agents," BSE said in a statement.
"We are sure that this facility launched by BSE at the initiative of Sebi will result in more accurate, speedier and higher levels of disclosure, in the interests of investors," it added. RTAs would be able to upload files through the portal.
In the initial phase, disclosures for promoter shareholders would be generated by the RTAs, based on the change in holdings of these shareholders, and the same would be submitted to the exchanges for dissemination on their website.
These disclosures would be disseminated on its website separately under the section ‘Corporates isclosures’ for easy viewing by the investors. “The portal is user friendly while being equipped with appropriate security features,” the statement said.
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