The Securities and Exchange Board of India has issued circular dated 30.06.2021 vide which the timelines for various regulatory compliances by the Trading Members/Clearing Members/KYC Registration Agencies are extended, as under:

 

S. No. Submission/ compliance Current timeline/Period of exclusion Proposed timeline/Period of exclusion
1. Maintaining call recordings of orders/ instructions received from clients Till June 30, 2021 Till July 31, 2021
2. Client Funding Reporting
3. To operate the     trading terminals    from    designated alternate locations
4. KYC application form and supporting documents of the clients to be uploaded on system of KRA within 10 working days Till June 30, 2021, documents may be uploaded on to the system of KRA within 15    working days.

*A 30-day time period is provided to SEBI Registered Intermediary after June 30, 2021 to clear the backlog.

Till July 31, 2021, documents may be uploaded on to the system of KRA within 15 working days.

*A 30-day time period is provided to SEBI Registered Intermediary after July 31, 2021, to clear the backlog.

5. Issue of Annual     Global Statement to clients Till June 30, 2021.   *Relaxation    is provided only if the client has requested for a physical statement. Till July 31, 2021.   *Relaxation    is provided only if the client has requested for a physical statement.

Further, Stock Exchanges/Clearing Corporations and Depositories are directed to bring the provisions of this circular to the notice of their members/ participants and disseminate the same on their websites.


*Tanvi Singh, Editorial Assistant has put this story together.

Join the discussion

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.