SEBI has extend the timelines for the following compliance requirements by their trading members / clearing members related to Submission towards weekly monitoring of client funds under the provisions of Enhanced Supervision, Submission of data on monthly basis towards clients’ and fund balance under the provisions of Enhanced Supervision, Daily margin trading reporting, Update in Income Tax Permanent Account Number of Key Management Personnel/ Directors and  Issue of Annual Global Statement to clients vide Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/68 Dated 21/04/2020.

Securities and Exchange Broad of India

CIRCULAR

 SEBI/HO/MIRSD/DOP/CIR/P/2020/68

April 21, 2020

To,

All Recognised Stock Exchanges and Clearing Corporations (including those in International Financial Services Centres)

 Madam / Sir,

Subject: Relaxation in timelines for compliance with regulatory requirements by trading members / clearing members.

1. In view of the situation arising due to COVID-19 pandemic and extended lockdown period, based on representation received from Stock Exchanges, it has been decided to extend the timelines for the following compliance requirements by their trading members / clearing members:

S. No. Compliance SEBI Circular Reference
 

 

I.

 

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

SEBI/HO/MIRSD/MIRSD2/ CIR/P/2016/95 dated September 26, 2016 read with CIR/HO/MIRSD/MIRSD2/ CIR/P/2017/64 dated June 22, 2017 and CIR/HO/MIRSD/MIRSD2/ CIR/PB/2017/107 dated September 25, 2017.
 

II.

Submission of data on monthly basis towards clients’ and fund balance under the provisions of Enhanced Supervision. SEBI/HO/MIRSD/MIRSD2/ CIR/P/2016/95 dated September 26, 2016 read with CIR/HO/MIRSD/MIRSD2/ CIR/PB/2017/107 dated September 25, 2017.
III. Daily margin trading reporting. CIR/MRD/DP/54/2017 dated June 13, 2017.
 

IV.

Update in Income Tax Permanent Account Number of Key Management Personnel/ Directors. SEBI/HO/MIRSD/MIRSD2/ CIR/P/2016/95 dated September 26, 2016.
 

V.

Issue of Annual Global Statement to clients. SEBI letter no. SEBI/HO/MIRSD1/RKD/ OW/P/2017/29513/1 dated November 27, 2017.

2. The delay in submission of the reports specified at S. Nos. I – III shall not attract penal provisions till May 17, 2020. The date for compliance requirements at S. Nos. IV-V is extended by one month from the due date.

3. Stock Exchanges and Clearing Corporations are directed to bring the provisions of this circular to the notice of their members and also disseminate the same on their websites.

4. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities

Yours faithfully

D Rajesh Kumar
General Manager
Market Intermediaries
Regulation and Supervision Department

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