Sebi issues procedure for seeking prior approval for change in control of vault managers

Sebi issues procedure for seeking prior approval for change in control of vault managers

Capital markets regulator Sebi on Friday came out with a procedure for vault managers to seek prior approval from the watchdog in case of a change in control.

The vault manager is regulated as a Sebi intermediary for providing vaulting services meant for gold deposited to create electronic gold receipts (EGRs).