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TMI BlogParticipation as Financial Information Providers in Account Aggregator frameworkX X X X Extracts X X X X X X X X Extracts X X X X ..... Aggregator is not stored by the AA and it shall not be the property of the AA. This information is not to be used in any other manner except for the purpose of providing it to the customer or consented Financial Information User (FIU). Thus, Account Aggregator facilitates consolidation, organization, presentation of the financial information to the customer or FIU based on the explicit consent of the customer. 2. RBI has issued Non-Banking Financial Company Account Aggregator Master Directions DNBR.PD.009/03.10.119/2016-17 dated September 02, 2016 for compliance by every Non-Banking Financial Company (NBFC-Account Aggregator) undertaking the business of AA. 3. Out of the list of entities mentioned as Financial Information Providers ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the consent artefact, the FIPs in the securities markets shall digitally sign the financial information and securely transmit the same to the AA in accordance with the terms contained in the consent artefact. 7. All responses of the FIPs in the securities markets shall be in real time. 8. To enable these data flows, the FIPs in the securities markets shall: a. implement interfaces that will allow an Account Aggregator to submit consent artefacts, and authenticate each other, and would enable secure flow of financial information to the AA; b. adopt means to verify the consent including digital signatures, if any, contained in the consent artefact; c. implement means to digitally sign the financial information that is shared ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... information of the mutual fund investments and holdings of investors in demat accounts. 15. The Financial Information Providers (FIPs) in securities market must disclose prominently on their websites the names of the Account Aggregators through which the FIP shares the information about assets held with respect to securities markets with the customers and Financial Information Users (FIUs). 16. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 , to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 17. The circular is available on SEBI website at www.sebi.gov.in at Legal Fram ..... X X X X Extracts X X X X X X X X Extracts X X X X
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