SEBI extends the due date for regulatory filings and compliance requirements by trading members or clearing members

Apr 16, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Securities and Exchange Board of India (SEBI) on April 16, 2020, has decided to extend the due date for the regulatory filings and compliance requirements by their trading members or clearing members due to COVID-19 pandemic and extended lockdown period.

The following compliances are:-

  1. Client Funding Reporting referred under SEBI letter dated July 16, 2004 has been extended till May 31, 2020.
  2. Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications referred under SEBI/HO/MIRSD/DOS2/CIR/P/2019/10 dated January 4, 2019, has been extended till May 31, 2020.
  3. Compliance certificate for Margin Trading for CM Segment referred under CIR/MRD/DP/54/2017 dated June 13, 2017, has been extended till June 30, 2020.
  4. Risk based supervision has been extended till June 30, 2020.
  5. Internal Audit Report for half year ending (HYE) March 31, 2020, has been extended till June 30, 2020.
  6. System Audit Report (Algo) referred under CIR/MRD/DP/ 16 /2013 dated May 21, 2013, has been extended till July 31, 2020.
  7. System Audit Report referred under CIR/MRD/DMS/ 34 /2013 dated November 6, 2013, has been extended till July 31, 2020.
  8. Net worth certificate in Margin Trading for CM Segment for HYE March 31, 2020, referred under SEBI/MRD/SE/SU/Cir-15/04 dated March 19, 2004, has been extended till June 30, 2020.
  9. Net worth certificate for all members for HYE March 2020 referred under SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/ 95 dated September 26, 2016, has been extended till June 30, 2020.
  10. Penalty for non-collection or short collection of upfront margins in cash segment referred under CIR/HO/MIRSD/DOP/CIR/P/2019/139 dated November 19, 2019, has been extended till May 17, 2020. The provision was effective from April 01, 2020 till May 17, 2020.
  11. Maintaining call recordings of orders/instructions received from clients referred under SEBI/HO/MIRSD/DOP1/CIR/P/2018/54 dated March 22, 2018 has been extended till May 17, 2020. The relaxation will be effective from March 23, 2020 till May 17, 2020 with respect to trading members working from designated alternate locations.

[SEBI Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/61]


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