SEBI on Wednesday cautioned investors against dealing with Strata Small and Medium Real Estate Investment Trust (SM REIT) as it is no longer a regulated intermediary or an SM REIT.

“Basis the engagement and discussions thereat, Strata SM REIT has surrendered its certificate of registration as an SM REIT, and will not hold out or represent itself as a SEBI regulated intermediary or SM REIT,” the market regulator said on Wednesday.

This communication, SEBI said, is being issued in the interest of investors advising them to exercise caution while dealing with the entity. It may be noted that Strata SM REIT has, as on date, not launched any SM REIT Schemes nor migrated any pre-existing fractional real estate entities as a SM REIT Scheme.

The regulator said it had engaged with Strata SM REIT, its independent director, compliance and other officers and the trustee.

SEBI revises CRAs’ composition of internal audit team 

SEBI has expanded the list of eligible professionals who can be part of the internal audit team for Credit Rating Agencies (CRAs), making it more inclusive.       Earlier, the internal audit team for CRAs was required to include a Chartered Accountant (ACA/FCA), and a Certified Information Systems Auditor (CISA) or someone with a Diploma in Information System Audit (DISA).

 The revised criteria now allow for either a Chartered Accountant (ACA/FCA) or a Cost Accountant (ACMA/FCMA), along with a professional holding one of the following qualifications: CISA, DISA, or DISSA (Diploma in Information System Security Audit from ICMAI).

Updated Investor Charter for RTAs 

To strengthen investor protection and promote financial inclusion and literacy, especially with new developments like the Online Dispute Resolution (ODR) platform and SCORES 2.0, markets regulator Sebi on Wednesday updated the Investor Charter for RTAs.

Under this, all RTAs (Registrars to an Issue and Share Transfer Agent) are required to share the updated Investor Charter on their websites and via email to existing and new shareholders.

Also, they need to display the charter prominently at their offices.