The Securities and Exchange Board of India (SEBI) on 29 July, 2020 has further extended the timelines for compliance with the regulatory requirements by the Trading Members/ Clearing Members/ Depository Participants, mentioned in the SEBI circulars, In view of COVID-19 pandemic situation.
In terms of this Circular, the following extensions will be affected:
- The requirement for Client Funding Reporting for the months of June and July 2020, Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications for the quarter ended on June 30, 2020, Compliance certificate for Margin Trading for CM Segment for the half year ended (HYE) on March 31, 2020, now stand extended till 30th September 2020
- It is required to upload application form and supporting documents of the clients on system of KYC Registration Agency (KRA) within 10 working days. The period of exclusion is now extended to include 23rd March, 2020 to 30th September, 2020.
- Submission of weekly monitoring of client funds, submission of data on a monthly basis towards clients’ fund balance under the provisions of Enhanced Supervision and daily margin trading reporting is extended to till September, 2020
- Compliance requirements in respect of updating of in Income Tax Permanent Account Number of Key Management Personnel / Directors and Issue of Annual Global Statement to clients has now been extended to five months from the due date.
- Cyber Security and Cyber Resilience Audit for the year ended March 31, 2020 now stands extended to till 30th September, 2020.
Click here to read the Circular.
