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.
