SEBI relaxes compliance requirements by trading members or clearing members

Apr 22, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Securities and Exchange Board of India (SEBI) on April 21, 2020, has decided to further relaxations the timelines for compliance with regulatory requirements by trading members or clearing members due to COVID-19 pandemic. 

The delay in submission of the reports shall not attract penal provisions till May 17, 2020 for the followings compliances:-

(i) Submission towards weekly monitoring of client funds under the provisions of Enhanced Supervision.

(ii) Submission of data on monthly basis towards clients’ and fund balance under the provisions of Enhanced Supervision.

(iii) Daily margin trading reporting.

The date for compliance requirements for the followings has been extended by one month from the due date:-

(i) Update in Income Tax Permanent Account Number of Key Management Personnel / Directors.

(ii) Issue of Annual Global Statement to clients.

[SEBI Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/68]


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