Consolidated account statement in MFs to be sent through email as preferred mode: SEBI

In its latest circular, SEBI has made email the default mode of communication for the dispatch of Consolidated Account Statement (CAS) for AMCs and their RTAs.

According to the new rules, all investors will receive CAS on their email address registered with AMCs and MF-RTAs. However, if an investor wishes to receive the physical copy, she has to request the respective AMC.

Also, AMCs and RTAs will have to intimate investors that they will send CAS on the registered email id every quarter.

Here are some other changes which will come into effect from August 1, 2024:

• If an investor has done a transaction in his demat account or MF folio then the CAS will be sent to the investor on a monthly basis. This indicates that all SIP investors will get monthly CAS
• If an investor does not do any transaction in his demat account or MF folio, he will receive CAS on a half-yearly basis
• If an investor specifies that he does not wish to get his CAS on email, AMCs will have to send CAS physically at their registered address
• RTAs will send at least one CAS through email every year even if it is zero balance or there is no transaction throughout the year
• In the absence of email id, AMCs will have to send CAS physically