So far, the depository participants (DPs) had to apply for separate registration certificate to operate on the nation's two depositories -- Central Depository Services India Ltd (CDSL) and National Securities Depository Ltd (NSDL).
    
Brokers and some other entities need to register themselves as depository participants with either NSDL or CDSL to operate in the capital markets.
     
The new norms would help ensure cost efficiency, avoidance of multiple due diligence process and prevent duplication of registration process.
    
In a notification issued today, Securities and Exchange Board of India said that "the existing requirement of obtaining certificate of initial registration to act as a participant and subsequently permanent registration to continue to act as a participant for each depository has been done away with".
    
"Henceforth, one certificate of initial registration and subsequently permanent registration through any depository shall be required after commencement of the Securities and
Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2014," it added.
    
As per the new guidelines, DPs would have to apply to Sebi for "permanent registration" through any of the depositories in which it is acting as a participant.
     
A new entity seeking to act as a participant would have to apply for "initial registration" with Sebi through the concerned depository.
    
 "If an entity has been granted a certificate of registration to act as a participant through one depository and wishes to act as a participant with the other depository then it shall directly apply to the concerned depository for approval in the manner as prescribed in the DP Regulations," Sebi said.
    
In October this year, Sebi had made one-time single registration process applicable for stock brokers and clearing entities.

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