Relaxation in timelines for compliance with regulatory requirements
Summary
This circular extends regulatory compliance timelines for trading members, clearing members, depository participants, and KYC registration agencies due to the COVID-19 pandemic. Specific extensions are granted for requirements such as call recordings, KYC documentation, audit reports, and grievance redressal until June or July 2021. The directive mandates that stock exchanges and depositories notify their members of these relaxations.
Text
it has been decided to extend the timelines for compliance with the following regulatory requirements by the Trading Members / Clearing Members / Depository Participants / KYC Registration Agencies, as under:
Maintaining call recordings of orders / instructions received from clients Till June 30, 2021
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 *Relaxation is provided only if the client has requested for a physical statement
Issue of Annual Global Statement to clients Till June 30, 2021
Submission of Internal Audit Report for HYE March-2021 Till July 31, 2021
Net worth certificate in Margin Trading for CM Segment for HYE March 31, 2021 Till July 31, 2021
Net worth certificate for all members for HYE March 2021 Till July 31, 2021
Reporting of Risk based supervision Till July 31, 2021
Risk Assessment Template Till July 31, 2021
Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications Till July 31, 2021
Client Funding Reporting Till June 30, 2021
You have read the preview. Create a free account to read the full document and see every order that applied it.
Free accounts include 10 searches/day with full text access.
Source: SecMarx — Relaxation in timelines for compliance with regulatory requirements. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.