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TMI BlogPFRDA notifies amendments to Trustee Bank (TB) and Central Recordkeeping Agency (CRA) Regulations for Good Governance with focus on subscriber protection, reduce cost of compliance and enhance ease of doing businessX X X X Extracts X X X X X X X X Extracts X X X X ..... PFRDA notifies amendments to Trustee Bank (TB) and Central Recordkeeping Agency (CRA) Regulations for Good Governance with focus on subscriber protection, reduce cost of compliance and enhance ease of doing business - News and Press Release Dated:- 22-2-2024 - News - PFRDA notifies amendments to Trustee Bank (TB) and Central Recordkeeping Agency (CRA) Regulations for Good Governance with focus on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... subscriber protection, reduce cost of compliance and enhance ease of doing business - - - Dated:- 22-2-2024 - The Pension Fund Regulatory and Development Authority (PFRDA) has notified the Trustee Bank (TB) (Amendment) Regulations, 2023 and the Central Recordkeeping Agency (CRA) (Amendment) Regulations, 2023 on 09.02.2024. The amendments to Trustee Bank (TB) Regulations simplify and strengthe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the provisions related to implementation of fraud prevention and mitigation policy, compensation to the subscriber, invitation of application for new registration and surrender of certificate of registration. Amendments to Central Recordkeeping Agency (CRA) Regulations simplify and strengthen the provisions related to governance of CRA in line with Companies Act, 2013 and enhanced disclosure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of information by CRA. The other notable amendments inter alia include: Implementation of fraud prevention and mitigation policy by CRA to protect the interest of subscribers. Inclusion of certificate by CEO in the annual report in respect of adequacy and effectiveness of internal controls, compliance and audit processes. Criteria of fit and proper person has been introduced for CR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A and its key personnel. The amendments in key areas aim at simplification and reducing compliance burden. For detailed information on the amended regulations, please visit the PFRDA website: Trustee Bank: https://www.pfrda.org.in/myauth/admin/showimg.cshtml?ID=2888 Central Recordkeeping Agency: https://www.pfrda.org.in/myauth/admin/showimg.cshtml?ID=2886 The above simpl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ifications are in line with Union Budget 2023-24 announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business. - - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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