SEBI Adds Two New Agencies For Social-Impact Assessor Registration On Social Stock Exchange
The Securities and Exchange Board of India (SEBI) has announced the inclusion of two additional agencies for the registration of social-impact assessors. In a circular, SEBI stated that the ICMAI Social Auditors Organization (ICMAI SAO), under the Institute of Cost Accountants of India, and the ICSI Institute of Social Auditors (ICSI ISA), under the Institute of Company...
The Securities and Exchange Board of India (SEBI) has announced the inclusion of two additional agencies for the registration of social-impact assessors.
In a circular, SEBI stated that the ICMAI Social Auditors Organization (ICMAI SAO), under the Institute of Cost Accountants of India, and the ICSI Institute of Social Auditors (ICSI ISA), under the Institute of Company Secretaries of India, are now recognized as Self-Regulatory Organizations (SROs) for social-impact assessors. Previously, only the Institute of Chartered Accountants of India (ICAI) was recognized for this role.
This expansion means that social-impact assessors can now register with any of these three agencies. Each assessor must also complete a certification program conducted by the National Institute of Securities Market.
The Social Stock Exchange was first introduced in the Union Budget for 2019-20. The SSE aims to provide a dedicated platform for entities involved in social activities, such as charitable trusts and NPOs, to raise funds. Both NPOs and FPEs can register on the exchange and mobilize funds through instruments like zero-coupon zero-principal (ZCZP) bonds, which can be offered to the public or placed privately.
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