Consultation Paper on collating and defining use cases of Financial Information Users in the Account Aggregator Framework in Securities Markets

SEBI has issued a Consultation Paper on collating and defining use cases of Financial Information Users in the Account Aggregator Framework in Securities Markets. The following questions are posted for public comments:

1. Do any class or type of intermediaries in the Indian Securities market require being excluded from functioning as FIUs? If so, please provide the rationale.
2. What are the potential use cases for the AA framework for SEBI regulated entities?
3. Are there any additional categories of financial information which may be included under the ambit of the AA framework? If so, please provide the use case/s and rationale.
4. Are there safeguards required in the AA Framework in order to protect the interests of customers in terms of additional data security, or to curb potential misuse of the financial information in frauds, misappropriation, mis-selling or unsolicited cross-sell/upsell, etc.?
5. Are there safeguards or measures required in the AA Framework in order to address concerns of customers, financial information providers, account aggregators or financial information users? If so, please provide the rationale.

Comments may be sent to the following, latest by August 31, 2023 (within 30 days from date of publication of this consultation paper on SEBI website) through the following modes:

1. By email to; ia_ho@sebi.gov.in or
2. By post to the following address: Mr. Manjesh Roy, G.M. / Mr. Rohan Singh Meena, A.G.M. Office of Investor Assistance and Education Securities and Exchange Board of India, SEBI Bhavan II, C-7, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051