Unit study guide · NISM Series II-B
Registrars and Transfer Agents Regulations
12 questions in this unit
What this unit covers
- Which SEBI framework specifically regulates registrar and transfer agents in 2026?
- What is the purpose of registering a securities-market RTA with the regulator?
- What is the primary purpose of a systems audit at a mutual fund servicing organisation?
- Which practice most directly improves protection of investor records?
- A transaction processor discovers an unauthorised change to bank details. What should be done first?
- Why are beneficial-ownership checks important in securities intermediation?
- What is a segregated portfolio in a mutual fund context?
- A fund creates a segregated portfolio after a qualifying credit event. What must the RTA protect?
- What does a documented maker-checker control require for a sensitive change?
- Why should an RTA retain evidence of investor request processing?
- Which authority may inspect an RTA under applicable securities-market regulations?
- An RTA changes its transaction platform. Which control is most important before full production use?
Key ideas
From the practice bank · 1
Which SEBI framework specifically regulates registrar and transfer agents in 2026?
The SEBI RTA Regulations, 2025 are the current dedicated RTA framework.
Hint Check the year of the most recent RTA-specific regulations.
II-B-043From the practice bank · 2
What is the purpose of registering a securities-market RTA with the regulator?
Registration places an RTA within the regulatory framework for permitted activities and supervision.
Hint Think about lawful supervision of an intermediary.
II-B-044From the practice bank · 3
What is the primary purpose of a systems audit at a mutual fund servicing organisation?
A systems audit examines whether technology and controls support reliable and secure operations.
Hint Think about checking systems rather than evaluating stock picks.
II-B-045From the practice bank · 4
Which practice most directly improves protection of investor records?
Restricted access and audit logs help protect investor records against misuse.
Hint Think about tracing who changed personal data.
II-B-046From the practice bank · 5
A transaction processor discovers an unauthorised change to bank details. What should be done first?
The RTA should contain the incident and preserve evidence for investigation and correction.
Hint Consider fraud containment and an audit trail.
II-B-047From the practice bank · 6
Why are beneficial-ownership checks important in securities intermediation?
Ultimate beneficial owner checks seek to identify the individuals who ultimately own or control relevant entities.
Hint Think beyond the immediate name on a form.
II-B-048From the practice bank · 7
What is a segregated portfolio in a mutual fund context?
A segregated portfolio isolates specified affected assets from the main scheme portfolio under applicable rules.
Hint Think about separating a distressed exposure.
II-B-049From the practice bank · 8
A fund creates a segregated portfolio after a qualifying credit event. What must the RTA protect?
The RTA must accurately track investor entitlements in the main and segregated portfolios.
Hint Follow entitlement records across the portfolio split.
II-B-050From the practice bank · 9
What does a documented maker-checker control require for a sensitive change?
Maker-checker control separates transaction initiation from independent approval.
Hint Think about independent checking of an entry.
II-B-051From the practice bank · 10
Why should an RTA retain evidence of investor request processing?
A documented audit trail supports investigation, accountability and review of investor transactions.
Hint Consider what an auditor must be able to reconstruct.
II-B-052From the practice bank · 11
Which authority may inspect an RTA under applicable securities-market regulations?
SEBI is empowered to supervise and inspect regulated intermediaries under the relevant framework.
Hint Identify the statutory intermediary supervisor.
II-B-053From the practice bank · 12
An RTA changes its transaction platform. Which control is most important before full production use?
Controls for data integrity, access and recoverability reduce operational risk during system migration.
Hint Think about a safe, verifiable system migration.
II-B-054