New Delhi, Dec 3 (PTI) Capital markets regulator Sebi on Tuesday revised its guidelines on the use of shared mobile numbers and e-mail addresses by stock brokers for investor alerts with an aim to enhance operational convenience.

The updated rules, effective immediately, aim to strike a balance between regulatory compliance and operational flexibility for brokers.

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Under the revised framework, Sebi said, the stock brokers can upload a common mobile number or e-mail address for multiple clients under certain conditions.

The exception applies to clients belonging to the same family, defined as self, spouse, dependent children, and parents, or for specific non-individual clients such as Hindu Undivide Family (HUF), corporates, partnerships, or trusts.

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In the case of non-individual clients, the shared contact details can only be uploaded if the client is an authorised person. For example, a Karta in HUFs, a partner in a partnership firm, a trustee or beneficiary in a trust, or a corporate board-authorised individual may serve as the designated point of contact, the regulator said.

The updated framework modifies Sebi's earlier circulars issued in 2011 and August 2024, addressing long-standing concerns raised by stakeholders, including the Brokers' Industry Standards Forum (ISF).

The latest circular specifies that all necessary written approvals and resolutions must be in place to validate shared contact details.

Further, the regulator directed the stock exchanges to make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of this directions and notify members of the changes.

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