As per the press release by SEBI on Tuesday, market regulator has advised all entities including MIIs (which use bulk SMS for providing their services to the investors) are advised to ensure strict compliance with the Telecom Regulatory Authority of India’s (TRAI) Telecom Commercial Communications Customer Preference Regulations, 2018 (TCCCP Regulations). Non compliance with the provisions of said regulations may result in disruption of delivery of their messages to the investors.
SEBI further said that these new regulations have a provision for Principal Entities (PE) (i.e. entities who intent to send bulk SMS) to register with the telecom service providers and are also required to register the template of the message.
SEBI further said that effective implementation of these new regulations will help to protect investors and the general public from unsolicited and often misleading messages.