SEBI Extends Regulatory Compliances Timeline

SEBI extends timelines

Circular issued on 1st December 2020 by Security Exchange Board of India (SEBI) clarifies that keeping in view the prevailing situation due to Covid-19 pandemic and representation received from the Stock Exchanges, SEBI has decided to extend the timelines for compliance with the following regulatory requirements by the trading members / clearing members.

S. No Compliance requirements for which timelines are extended Extended timeline
1 Internal Audit for half year ended on September 30, 2020. 31st December 2020
2 System Audit for half year ended on September 30, 2020.
3 Half yearly net worth certificate as on September 30, 2020. 31st December 2020
4 Cyber Security and Cyber Resilience Audit for half year ended on September 30, 2020. 31st January 2020

 

Extended timelines for Depository participants (DPs).

S. No Compliance requirements for which timelines are extended Extended timeline
1 Submission of half yearly Internal Audit Report by DPs for the half year ended on September 30, 2020 31st  December 2020
2 KYC application form and supporting documents of the clients to be uploaded on system of KRA within 10 working days Period of exclusion shall be from 23rd March, 2020 till 31st December, 2020.   A  15-day  time  period after   December   31, 2020 is allowed   to Depository  /  DPs,  to clear the back log
3 Systems audit on annual basis for the financial year ended March 31, 2020. 31st December, 2020

 

Click here for the official circular:


Knowledge Source:

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