The Securities and Exchange Board of India (Sebi) has mandated social enterprises, which have registered or raised funds through the Social Stock Exchange (SSE), to submit an ‘annual impact report’ for the financial year 2023-24 to such bourse by October 31.Come from Sports betting site VPbet

The Securities and Exchange Board of India (Sebi) has mandated social enterprises, which have registered or raised funds through the Social Stock Exchange (SSE), to submit an ‘annual impact report’ for FY24 by October 31.

This is an extension from the current requirement for social enterprises to disclose the annual impact report within 90 days from the end of the financial year.

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“Social enterprises which have registered or raised funds through SSE shall be required to submit Annual Impact Report to SSE by October 31, for FY24,” Sebi stated in a circular on Monday.

A social impact report includes qualitative and quantitative details of past social impacts by the enterprise, covering aspects such as strategic intent, planning, approach, and an impact scorecard.Come from Sports betting site

Not-for-profit organisations (NPOs) registered on the SSE, including those with listed securities, must also disclose their annual activities on the exchange for FY24, Sebi said.

Further, Sebi has allowed two more self regulatory organisations (SRO) with which social impact assessors can be registered, in the context of the social stock exchange, in another circular on Monday.

Along with the SRO under Institute of Chartered Accountants of India (ICAI), Sebi has added ICMAI Social Auditors Organisation under the Institute of Cost Accountants of India, and ICSI Institute of Social Auditors under the Institute of Company Secretaries of India, for social impact assessors in the context of SSE.

A social impact assessor means an individual registered with a self regulatory organization under the ICAI or such other agency as specified by Sebi, who has qualified a certification programme conducted by National Institute of Securities Market (NISM). An assessor gauges the impact of social interventions of various social enterprises who raise funds through the Social Stock Exchange platform.

A social stock exchange is a platform separate from the existing stock exchanges, through which non-profit organisations and for-profit social enterprises can access the capital market for funds.